Greenlane Renewables Inc
TSX:GRN
Greenlane Renewables Inc
Greenlane Renewables, Inc. engages in the provision of biogas upgrading systems. The company is headquartered in Burnaby, British Columbia and currently employs 82 full-time employees. The company went IPO on 2018-10-29. The firm's biogas upgrading systems create 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. The biogas upgrading systems, marketed and sold by the Company under the Greenlane Biogas brand, remove impurities and separates carbon dioxide from biomethane 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. The firm designs and develops the systems it provides and uses a capital light business model with fully outsourced manufacturing managed by a team of supply chain professionals. Once delivered to site, the Company commissions and tests the systems and provides aftercare parts and services.
Greenlane Renewables, Inc. engages in the provision of biogas upgrading systems. The company is headquartered in Burnaby, British Columbia and currently employs 82 full-time employees. The company went IPO on 2018-10-29. The firm's biogas upgrading systems create 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. The biogas upgrading systems, marketed and sold by the Company under the Greenlane Biogas brand, remove impurities and separates carbon dioxide from biomethane 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. The firm designs and develops the systems it provides and uses a capital light business model with fully outsourced manufacturing managed by a team of supply chain professionals. Once delivered to site, the Company commissions and tests the systems and provides aftercare parts and services.
Profitability: Greenlane reported positive adjusted EBITDA and net income for the second consecutive quarter, marking a turnaround from losses last year.
Revenue Growth: Revenue rose 10% year-on-year to $11.6 million, reflecting stronger sales and improved operational efficiency.
Backlog Expansion: The sales order backlog surged to $33.5 million, more than doubling from a year ago and up strongly quarter-over-quarter.
Cash Position: Cash on hand reached $19.3 million, up from $16.2 million at year-end, with no debt, providing financial flexibility.
New Product Launch: The Cascade LF landfill gas upgrading system was launched and is receiving positive early feedback, with revenue from new orders expected to begin in 2026.
