Greenlane Renewables Announces Second Deployment of Development Capital for a Renewable Natural Gas Project
Greenlane Renewables Inc. through its subsidiary, Greenlane Renewables Capital Inc., announced its second deployment of development capital to a company focused on developing landfill gas-to-renewable natural gas (RNG) projects.
The initial project planned by the development company is located in the midwestern USA and is estimated to generate over 250,000 MMBtu annually using a Greenlane supplied biogas upgrading system. Project revenue is expected to be generated from the sale of physical gas and D3 Renewable Identification Numbers (D3 RINs) under the US Renewable Fuel Standard (RFS) program or, alternatively, one or more long-term offtake agreements with natural gas utilities. The total project capital expenditure to be provided by third parties is expected to be approximately CAD$23.0 million (US$18.0 million).