Greenlane Reports Increased Revenue in RNG Sales
Canada-based Greenlane Renewables Inc., a supplier of biogas upgrading systems, released interim financial results for the first half of 2020 on Aug. 25, reporting significant increases in revenue and sales order backlog.
“We successfully grew our revenue this quarter by 45 percent on a sequential basis while facing some tough marketplace conditions as a result of the COVID19 backdrop,” said Brad Douville, president and CEO of Greenlane. “We also achieved a third consecutive quarter of rapid growth of our sales order backlog adding $21 million from the recent and significant contract wins for dairy farm projects in California. Our focus remains on a strong second half of 2020. This trend continues so far in the third quarter highlighted by a recent contract win in Brazil, and the launch of our joint venture with SWEN Impact Fund for Transition to accelerate deployment of Greenlane’s biogas upgrading systems and solutions in Europe.”
By Biomass Magazine