alternative energies-the future of commercial transportation Alternative Energies Are the Future of Commercial Transportation PR Newswire NEW YORK, Dec. 1, 2020 - FinancialBuzz.com News Commentary NEW YORK, Dec. 1, 2020 /PRNewswire/ -- "The transportation industry is responsible for 28 percent of greenhouse gas emissions in the United States. Of those emissions, medium and heavy-duty trucks are responsible for 23 percent. This is a major reason the trucking industry is under enormous pressure from government regulators to switch to low-carbon technologies. Much of the progress on this so far has come from electric vehicles. Tesla Inc (NASDAQ: TSLA) semi-truck is soon to hit the road, and its competitor Nikola Corporation (NASDAQ: NKLA) is not far behind. Amazon.com, Inc. (NASDAQ: AMZN) has invested heavily in electric truck startup Rivian, and UPS is looking to Workhorse Group Inc (NASDAQ: WKHS) to transport its deliveries. While giants like UPS and Amazon are throwing their weight behind low-carbon solutions, biofuel vehicles running on Renewable Natural Gas (RNG) could offer the ideal and viable route for commercial users. That's where companies like Greenlane Renewables Inc. (TSX-V: GRN) are focused on building out renewable infrastructure. A major participant in the market for RNG upgrading systems is Greenlane Renewables Inc. (TSX-V: GRN) . Greenlane's technologies are designed to remove impurities and separate carbon dioxide from biomethane in raw biogas to create clean high-grade renewable natural gas. Once it has been upgraded using Greenlane's systems, this RNG can be used interchangeably with conventional natural gas in energy generation infrastructure or directly as a fuel for vehicles or bigger opportunities such as the energy grid. Greenlane seems to have a higher supplied capacity than any other company in the RNG space, with more than 110 systems in 18 countries. Among the oil and gas supermajors getting into RNG, as recently announced, is BP, Chevron, Total and Shell. On November 17, Greenlane Renewables Inc. reported record Q3 revenue of $6.5 million, which represents a 30% increase year-over-year. The company's gross margin was also 31% higher in the third quarter at $1.7 million. Additionally, a sales order backlog of $43.8 million (a 350% increase year over year) and a sales pipeline valued at more than $690 million puts Greenlane on a viable growth trajectory. While electric vehicles have been getting the bulk of the renewable energy buzz in recent years, RNG could provide another affordable low-carbon solution for commercial vehicle operators. In addition to providing a carbon-neutral fuel source by utilizing waste material, the use of RNG also helps to reduce the build-up of waste material in landfills. Since RNG can be used anywhere conventional natural gas is used, vehicles that are equipped to run on RNG have already been widely available and affordable for years. This could allow many commercial vehicle operators that already own natural gas-powered vehicles the option to transition to sustainable fuel without the need for a wholesale infrastructure replacement. Companies like Greenlane can help these operators fill the gaps in their infrastructure. Greenlane has signed more than $38 million in new contracts in 2020. On October 8, the company announced that it had signed a $5.8 million system supply contract for a Brightmark LLC project to build four biogas upgrading systems on four dairy farms in Florida. This marks the second system supply agreement that Greenlane has signed with Brightmark. Further demonstrating the engagement in a popular space was Brightmark's announcement to form a joint venture with Chevron U.S.A. Inc. the day before. Whether through RNG, EVs, or by other means, commercial transportation is undergoing a rapid transition to renewable energy." https://www.bloomberg.com/press-releases/2020-12-01/alternative-energies-are-the-future-of-commercial-transportation