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Greenlane Renewables Inc. (T:GRN)

Business Focus: Renewable Fuels (NEC)

Sector:  Energy Industry:  Renewable Fuels
Company Contact
Address: Suite 110, 3605 Gilmore Way
Tel: N/A
IR: See website
Key People
Wade D. Nesmith
Independent Chairman of the Board
H. Maura Lendon
Chief Legal Officer
Brad Donald Douville
President, Chief Executive Officer, Director
Monty Balderston
Chief Financial Officer
Alexander Chassels
Chief Operating Officer
Sanford Jacob Selman
Senior Vice President, Project Finance
Sandra Catherine Keyton
Vice President of Human Resources
Jim Bornholdt
Vice President, Purchasing
Dale Goudie
Vice President - Products
Lynda D. Freeman
Senior Director, Special Projects
Business Overview
Greenlane Renewables Inc. is a Canada-based company, which provides biogas upgrading systems. Its systems produce clean, 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 commercial vehicle fuel. The biogas upgrading systems, marketed and sold by the Company under the Greenlane Renewables brand, remove impurities and separate carbon dioxide from bio methane in the raw biogas created from the anaerobic decomposition of organic waste at landfills, wastewater treatment plants, farms, food waste streams, and other feedstock sources. It is deploying the three main upgrading technologies: water wash, pressure swing adsorption, and membrane separation, plus biogas desulfurization technology. It has delivered over 140 biogas upgrading systems into 19 countries, including some of the renewable natural gas production facilities in the world.
Financial Overview
For the nine months ended 30 September 2023, Greenlane Renewables Inc revenues decreased 25% to C$40.5M. Net loss increased from C$3.7M to C$11.8M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Higher net loss reflects General and administration increase of 56% to C$17.2M (expense), Foreign exchange (gain) loss decrease from C$1.3M (income) to C$295K (expense).
Employees: 146 as of Sep 30, 2023
Reporting Currency: Canadian Dollars
Enterprise value: N/A
Annual revenue (TTM): $57.49M as of Sep 30, 2023
EBITDA (TTM): -$12.22M as of Sep 30, 2023
Net annual income (TTM): -$13.60M as of Sep 30, 2023
Free cash flow (TTM): -$4.64M as of Sep 30, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 153,790,399 as of Jan 17, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization