Greenlane Renewables (TSX: GRN) is closing out the year on a high note, having just secured an additional contract in British Columbia. The firm has seen the award of a $12.1 million contract from FortisBC Energy.
The contract will see the company supply a biogas upgrading system for the Vancouver landfill as part of a new project being established by FortisBC. The company is to supply what is referred to as a two stage pressure swing adsorption system, enabling landfill gas to be converted to renewable natural gas that will then be injected into a regional natural gas pipeline operated by FortisBC.
The energy company is undertaking the project as a means of reducing its greenhouse gas emissions by 30% by 2030.
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Fulfillment of the project is expected to begin immediately, with a timeline for completion not being provided by Greenlane.
Greenlane Renewables last traded at $1.18 on the TSX.
Information for this briefing was found via Sedar and Greenlane Renewables. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
