~Appointments enable Greenlane to focus on
market expansion and overall profitability~
VANCOUVER, BC, June 8, 2023
/CNW/ - Greenlane Renewables Inc. ("Greenlane") (TSX: GRN)
(FSE: 52G) today announces the appointment of Brad Douville, current Chief Executive Officer
("CEO"), to the newly created role of Vice Chair of the
Board of Directors, and a continuing full time executive role as
"Executive Vice Chair" with a mandate to support management in
advancing key strategic initiatives, and the appointment of
Ian Kane as President and CEO to
lead the Company's profitable execution of its new strategic plan.
Both appointments will be effective August
10, 2023.
"Greenlane has grown rapidly over the past four years, and we
are now resetting our strategic plan for the next stage of growth,"
said Brad Douville, CEO of
Greenlane. "The Board has approved our new strategic plan, which
foresees Greenlane's further evolution as an industry leader,
delivering operational excellence, industry-leading products, and
strong financial performance. A pillar of this strategic plan is
adding a proven leader with experience in creating operating
leverage in the environment of rapid growth we've had and expect to
see over the next number of years. The Executive Vice Chair role is
full time and over the next few years my mandate will be to assure
that the full potential of the most important strategic
opportunities are realized."
"We are pleased to welcome Ian
Kane as President and CEO of Greenlane," said Wade Nesmith, Chairman of Greenlane. "Ian has a
proven track record of successfully transforming companies for
growth and profitability. I am also pleased that Brad will be
taking on the role of Executive Vice Chair, focusing on a few of
the most lucrative initiatives to propel the Company forward.
Greenlane's opportunities in Brazil are a prime example, with the huge RNG
potential that exists in the large landfill and even larger sugar
cane industries. The transition of CEO responsibility to Ian will
allow Brad in his new role to build on our historic success in
Brazil as well as to advance other
vital strategic opportunities. Brad has been instrumental in
establishing Greenlane's reputation as a trusted technology
provider in the RNG industry and we look forward to his continued
drive for success in international markets."
"I'm excited to work with Ian, whose background and experience
make him ideally suited to lead Greenlane into its next chapter as
a trailblazer in the RNG industry," said Brad Douville, CEO of Greenlane. "It has been my
honour to serve as CEO during these past four years of Greenlane's
public company journey, and I want to offer my sincere thanks to
our employees whose hard work and dedication have allowed us to
accomplish so much. I am looking forward to focusing on the
tremendous untapped potential that we see in the global RNG
industry as we build on Greenlane's strong foundation."
"I've been fortunate to have a great deal of experience helping
companies optimize growth and financial performance after the
startup phase," said Ian Kane, CEO
Appointee of Greenlane. "It is a great time to join Greenlane and
I'm looking forward to working with the team to achieve their
ambitious goals. I believe that Greenlane offers an important path
to accelerate the decarbonization of global energy and I'm proud to
join its leadership."
About Ian Kane
Mr. Kane
has built a career as an impactful business leader who creates
sustainable shareholder value through fostering a culture of
ambition and accountability.
As the President and CEO of Excell Battery, Mr. Kane has been
responsible for all aspects of the product design and manufacturing
business, including defining the global growth strategy and
diversifying markets and product range. His growth strategy over
three years resulted in double digit revenue and net income growth.
Mr. Kane was actively involved in the sale of Excell Battery to
Ultralife Corporation.
Prior to Excell, Mr. Kane was the President of Alpha
Technologies, a 420-employee company demonstrating 15% organic
revenue growth ($180 million) year on
year while growing operating earnings at 20%. Mr. Kane was actively
involved in the sale of Alpha Technologies to EnerSys.
Mr. Kane was previously Vice President at Talisman Energy
responsible for safely managing daily oil and natural gas
production and processing of up to 25,000 boe/d (US$1 billion in revenue); and held a Director
role in Operational Effectiveness at PwC LLP.
Mr. Kane holds an MBA (Cum Laude) from the University of
Stellenbosch and M.Eng from the University of Johannesburg.
About Greenlane Renewables
Greenlane Renewables is a
pioneer in the rapidly growing renewable natural gas ("RNG")
industry. As a leading global provider of biogas upgrading systems,
we are helping to clean up two of the largest and most
difficult-to-decarbonize sectors of the global energy system: the
natural gas grid and the commercial transportation sector. Our
systems produce clean, low-carbon and carbon-negative RNG from
organic waste sources such as landfills, wastewater treatment
plants and agricultural and food waste streams. To the company's
knowledge, Greenlane is the only biogas upgrading company offering
and actively deploying the three main technologies: waterwash,
pressure swing adsorption, and membrane separation. Greenlane's
business has been built on over 35 years of industry experience,
patented and proprietary technology, with over 140 biogas upgrading
systems sold into 19 countries, including some of the largest RNG
production facilities in the world, and over 140 biogas
desulfurization units sold. For further information, please visit
www.greenlanerenewables.com.
FORWARD LOOKING INFORMATION – This news release contains
"forward-looking information" within the meaning of applicable
securities laws. All statements contained herein that are not
historical in nature contain forward-looking information.
Forward-looking information can be identified by words or phrases
such as "will be", "continuing", "forsees", "is expected",
"likely", "should", "would", "plan", "anticipate", "intend",
"potential", "proposed", "estimate", "believe" or the negative of
these terms, or other similar words, expressions and grammatical
variations thereof, or statements that certain events or conditions
"can", "may" or "will" happen. In particular, this news release
contains forward looking information relating to the appointments
of the Executive Vice Chair ("EVC") and the Chief Executive Officer
("CEO"), and that they will be effective August 10, 2023; that the EVC will have
responsibility for advancing key strategic initiatives; that the
CEO will lead profitable execution of the Company's strategic plan;
that Greenlane will evolve as an industry leader delivering
operational excellence, industry-leading products, and strong
financial performance; that rapid growth will continue over the
next number of years, and that the full potential of the Company's
most important strategic opportunities will be realized; that there
are lucrative opportunities with huge and untapped potential in the
RNG industry; that Greenlane will continue to be an RNG industry
trailblazer. The forward-looking information contained herein is
made as of the date of this press release and is based on
assumptions management believed to be reasonable at the time such
statements were made, including management's perceptions of the
potential for lucrative opportunities in the RNG market, future
growth and expected future developments, as well as other
considerations that are believed to be appropriate in the
circumstances. While management considers these assumptions to be
reasonable based on information currently available to management,
there is no assurance that such expectations will prove to be
correct. By their nature, forward-looking information is subject to
inherent risks and uncertainties that may be general or specific
and which give rise to the possibility that expectations,
forecasts, predictions, projections or conclusions will not prove
to be accurate, that assumptions may not be correct and that
objectives, strategic goals and priorities will not be achieved. A
variety of factors, including known and unknown risks, many of
which are beyond the Company's control, could cause actual results
to differ materially from the forward-looking information in this
press release. Such factors include, without limitation, risks
relating to the ability of the Company to realize the full
potential of the most lucrative opportunities in its strategic
plan; changes that may occur between the time of this news release
and the effective date of the announced appointments; and
risks identified in the Company's annual information form and in
other documents filed with Canadian securities regulatory
authorities on the Company's SEDAR profile at www.sedar.com.
Readers are cautioned not to put undue reliance on forward-looking
information. Actual results may differ materially from those
anticipated. The Company undertakes no obligation to update or
revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable law. Forward-looking statements contained in this news
release are expressly qualified by this cautionary statement.
SOURCE Greenlane Renewables Inc.