~Private equity firm with 5 billion Euro under
management sets its sights on renewable natural gas (“RNG”) market
in Europe with its first fund dedicated to RNG and joint venture
with Greenlane~
Greenlane Renewables Inc. (“Greenlane”) (TSXV: GRN / FSE:
52G) today announced it has signed an agreement in principle with
SWEN Capital Partners (“SWEN”) based in Paris, France to create a
joint venture company (“JV Co.”) to accelerate deployment of
Greenlane’s biogas upgrading systems by providing an innovative
finance solution for customers in Europe using a build, own,
operate model.
JV Co. will combine Greenlane’s market presence, technical
expertise, customer contacts and industry experience with SWEN’s
financial backing as a leader in sustainable investments with more
than 5 billion Euro in assets under management. The intent of the
parties is for JV Co. to assist in removing the burden of ownership
on Greenlane’s clients by allowing them to replace initial capital
outlays with a monthly fee.
“We believe the joint venture will unlock new opportunities by
creating a unique value proposition that attracts those customers
requiring not only financing to deploy biogas upgrading systems but
also long term guarantees,” said Brad Douville, President & CEO
of Greenlane. “This innovative solution allows our systems to be
owned and financed by the joint venture in which we will
participate as a minority equity partner. Greenlane will be
responsible for the construction, operation, and maintenance of the
biogas upgrading units and our equity partner, SWEN, will be
responsible for the financing. Customers benefit from reduced
capital expenditures in projects, built-in operation and
maintenance while retaining their autonomy to sell the resulting
renewable natural gas back to the natural gas grid.”
“SWEN brings extensive experience and knowledge in sustainable
investing,” said Olivier Aubert, Managing Director of the SWEN
Impact Fund for Transition. “The combination of Greenlane’s
expertise and SWEN’s financial resources provides for credibility
to the biomethane or RNG sector, while enabling Greenlane to
position itself as a leading integrated player in the market.”
“We have the right products in the right market at the right
time,” added Brad Douville. “For example with the recent
announcement by the German Government to phase out coal, the Green
Party in Germany is calling for a "gas turnaround" where fossil
natural gas must be replaced by "green gases" - or RNG - as quickly
as possible. Changing the global natural gas infrastructure from
fossil-based sources to a renewable form makes both economic and
environmental sense. Greenlane Renewables is set to benefit from
this push to RNG with its strong presence in Germany and its
showcase installation in Gustrow.”
The joint venture represents a step change evolution of
Greenlane from the design and sale of biogas upgrading equipment,
to offering customers a complete turnkey solution through a joint
venture in which Greenlane retains an interest. Potential customers
include greenfield project developers and existing anaerobic
digestion plant owners operating cogeneration units and having an
interest to switch to injection of biomethane, while keeping
initial costs down. The creation of JV Co. is subject to the
settling of a final agreement between the parties, a process that
is expected to be concluded by the end of the second quarter. The
current agreement in principle is non-binding except in respect of
non-material terms and there can be no guarantees that a final
definitive agreement will be reached.
About SWEN Capital Partners
SWEN Capital Partners is an AMF-approved management company,
held mainly by the OFI group and Arkea. With nearly 5 billion Euro
under management, SWEN Capital Partners is a long-standing player
in Responsible Investment and now a diversified investment platform
that includes both primary, secondary and direct fund investments.
For more information, please visit www.swen-cp.fr
About Greenlane Renewables
Greenlane Renewables is a leading global provider of biogas
upgrading systems that are helping decarbonize natural gas. Our
systems produce clean, low-carbon renewable natural gas from
organic waste sources including landfills, wastewater treatment
plants, dairy farms, and food waste, suitable for either injection
into the natural gas grid or for direct use as vehicle fuel.
Greenlane is the only biogas upgrading company offering the three
main technologies: water wash, pressure swing adsorption, and
membrane separation. With over 30 years industry experience,
patented proprietary technology, and over 100 biogas upgrading
units supplied into 18 countries worldwide, including the world’s
largest biogas upgrading facility, Greenlane is inspired by a
commitment to helping waste producers improve their environmental
impact, green credentials, and bottom line. For further
information, please visit www.greelanerenewables.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 “may”, “expect”, “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 "may" or "will" happen. The
forward-looking information contained in this press release,
includes, but is not limited to, statements relating to the
creation of a joint venture company to accelerate deployment of
Greenlane’s biogas upgrading systems, the combination of
Greenlane’s market presence, technical expertise, customer contacts
and industry experience with SWEN’s financial backing for the joint
venture, the intent of the parties for the joint venture, the
unlocking of new opportunities with the joint venture, Greenlane
participating in the joint venture as a minority equity partner,
the responsibilities of Greenlane under the joint venture, the
joint venture representing a step change evolution of Greenlane,
and the settling or conclusion of the final definitive agreement.
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 future growth, results of
operations, operational matters, historical trends, current
conditions and expected future developments, as well as other
considerations that are believed to be appropriate in the
circumstances. While we consider 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 our
control, could cause actual results to differ materially from the
forward-looking information in this press release. Such factors
include, without limitation, the risks that the creation of a joint
venture company may not succeed or not as contemplated, the
accelerated deployment of Greenlane’s biogas upgrading systems
under the joint venture may not occur as expected or at all, the
combination of Greenlane’s expertise and SWEN’s financial resources
may not be as contemplated or successful, the intent of the parties
for the joint venture may change or may not be as expected, the
joint venture may not unlock new opportunities as expected or at
all, Greenlane’s participation in the joint venture as a minority
equity partner may not be as contemplated or on terms different
than expected, Greenlane’s responsibilities under the joint venture
may not be as expected, the joint venture may not represent the
type of evolution of Greenlane’s business as contemplated, and the
final, definitive agreement may not be settled or concluded in the
timeline expected or at all. Additional risk factors can also be
found in Greenlane's filing statement and prospectuses, which have
been filed under Greenlane's SEDAR profile at www.sedar.com.
Readers are cautioned not to put undue reliance on forward-looking
information. Greenlane 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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release or has in any way approved or disapproved
of the contents of this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200128005250/en/
Incite Capital Markets Eric Negraeff / Darren Seed Ph:
604.493.2004 Brad Douville, President & CEO, Greenlane
Renewables Email: IR@greenlanebiogas.com
Greenlane Renewables (TSXV:GRN)
過去 株価チャート
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Greenlane Renewables (TSXV:GRN)
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から 11 2023 まで 11 2024
