Greenlane Renewables Inc. (TSXV:GRN) shares have jumped 53% since Capital Ideas wrote about the company 17 months ago
Capital Ideas Media | April 14, 2022 | SmallCapPower: The move towards increased renewable energy use has accelerated in recent years, and should receive an even greater push in the United States with the election of Joseph Biden as the incoming U.S. President.
(Originally published on Capital Ideas Media on November 10, 2020)
Renewable natural gas (RNG), also known as biogas, is expected to be an important part of the renewable energy future, along with wind and solar. The International Energy Agency (IEA) expects the use of RNG to more than double over the next 20 years.
Greenlane Renewables Inc. (TSXV:GRN) is in the RNG business, turning ‘waste’ gas, such as that created from decomposing food in landfills and cow manure, into usable natural gas to power trucks, feed into existing nat gas pipelines, and to create fertilizer. Think of it as natural gas recycling.
[Editor’s Note: Shares of Greenlane Renewables have climbed 58% since Capital Ideas wrote about the company 17 months ago.]
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Raymond James analyst David Quezada is a big believer in Greenlane’s future, initiating coverage on the stock at the time with a “Strong Buy” rating.
“Our bullish stance is a function of: 1) Substantial industry growth in RNG driven by a steep adoption curve similar to the early days of wind and solar power as gas utilities are pressured to decarbonize; 2) the company’s strong competitive positioning with three key RNG upgrading technologies; 3) sales momentum via $38-million in large orders year-to-date; and 4) a valuation that has lagged clean tech peers in recent months despite the aforementioned sales wins,” he said.
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