Greenlane Renewables CEO Brad Douville: Demand for Decarbonisation Is Fueling Business Growth
Greenlane Renewables (TSXV:GRN) CEO Brad Douville discusses how the company is making money and growing by providing the right equipment to upgrade the production of renewable natural gas (RNG).
“We’re making money right now,” Douville said. “And how are we doing that? We sell the equipment that does what we refer to in the industry as upgrading. We remove the impurities, and then we separate the carbon dioxide from the biomethane to create high-purity biomethane that’s suitable for direct use in vehicles or direct injection into the local pipeline network.”
Greenlane Renewables creates the specifications for the equipment from its standard products and oversees installation and commissioning. Last year, the company’s Greenlane Biogas North America was awarded a C$12.1 million contract by FortisBC Energy for the supply of a biogas upgrading system for a new project at the Vancouver landfill in BC, Canada. Greenlane also closed its acquisition of Airdep, a provider of biogas desulfurization and air deodorization products based in Vicenza, Italy.
According to Douville, Airdep had very attractive technology that does hydrogen sulfide removal. The company was relatively undiscovered, so Greenlane took the chance to bring it in-house and take its products global. Douville said the acquisition has allowed Greenlane to offer incremental value to its customers.
“We started as a venture-listed company of the TSXV. Usually it takes quite a number of years to graduate to the senior board. But our growth has been phenomenal. We’ve been growing, you know, 100 percent annually. We were only on the junior board for 18 months until we graduated,” Douville said.
“It’s been a really good response from the investor base. The markets certainly embraced the products that we sell, and it’s been a tremendous ride in terms of the growth in the business. We aren’t currently seeing that subside anytime soon.”
Watch the full interview of Greenlane Renewables CEO Brad Douville above.
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