This RNG acquisition will bring lots of revenues ...
RNG is really trending, no doubt! And PYR can help its future partner move 1-2 notches higher.
Peter mentioned couple of key words that we can trace back in the actuality, regarding his upcoming renewable natural gas (RNG) acquisition.
landfill, waste, goverments are requiring more and more mix of renewable content in natural gas pipelines, etc ...
Here are couple of recent examples:
October 7, 2020 - Ontario: Ontario Welcomes Construction of Largest Renewable Natural Gas Plant in the Province and New Program for Enbridge Customers | Ontario Newsroom Innovative Niagara facility will transform landfill waste into clean, affordable energy and create jobs The Niagara Falls Renewable Natural Gas plant will be the largest of its kind in Ontario and will generate enough clean renewable energy from landfill waste to heat 8,750 homes across the country and reduce greenhouse gas emissions by 48,000 tonnes. ...
"I want to congratulate Enbridge and private sector partners, Walker Industries and Comcor Environmental, for coming together to make this innovative renewable natural gas project possible," said Minister Yurek. "Our government knows the private sector has the capital, capability and know-how to transform clean technology markets across Canada and we will continue to work closely with Ontario's energy sector to find more ways to reduce greenhouse gas emissions efficiently and affordably." Oct 28, 2019 - Alberta Renewable natural gas start-up company completes key milestone converting Alberta forest residues into pipeline-quality gas (newswire.ca) An innovative clean energy start-up company, G4 Insights Inc., has successfully demonstrated in a field trial that forestry industry residues can be turned into renewable natural gas (RNG). ...
This technology, when commercialized, will convert forestry biomass into RNG that can be added to the existing natural gas distribution system and used interchangeably by customers without any equipment modifications. ...
Renewable natural gas produced from sustainably managed forest residue can emit up to 85% fewer greenhouse gas (GHG) emissions than traditional fuels. In Quebec, the BAPE commission (Enviroment Minister) is also holding audiences on landfills and will encourage similar move.
June 10, 2020 - Quebec: And there's another example in Quebec that MidTownGuy recently mentioned:
Xebec Announces Letter of Intent for Canadian Landfill Gas to Renewable Natural Gas Project TSX Venture Exchange:XBC (globenewswire.com) Xebec’s market presence in Canada continues to expand as RNG adoption accelerates
On June 1st, 2020, Xebec announced the creation of the GNR Qubec Capital L.P. investment fund. This new investment vehicle aims to increase renewable natural gas (RNG) production in Qubec and Canada, and when fully capitalized and appropriately leveraged, could fund 12 to 15 renewable natural gas projects in Canada.
22 Oct, 2020: Growing Climate Change Concerns Shine Spotlight on Renewable Natural Gas (RNG) Solutions (prnewswire.co.uk) NEW YORK, Oct. 22, 2020 /PRNewswire/ -- The world has been slowly shifting towards sustainable energy initiatives, with dozens of countries setting net-zero emissions goals, but wildfires raging across California and Oregon have only accelerated the public push for climate change action. Renewable natural gas (RNG) has emerged as a favorable carbon-cutting, clean energy solution among oil, gas, and utility companies because it is compatible with existing natural gas infrastructure and indistinguishable from conventional natural gas. In recent years, major energy companies, including Dominion Energy (NYSE:D), Sempra Energy (NYSE:SRE), Duke Energy Corp. (NYSE:DUK), and Fortis Inc. (TSX:FTS) (NYSE:FTS) have begun investing billions of dollars into clean energy projects, while Greenlane Renewables Inc. (TSXV:GRN), a biogas upgrading systems provider, is offering turnkey solutions to help governments and businesses around the world meet their zero carbon goals. Investments Continue to Pour into the RNG Market
Renewable Natural Gas has continued to gain traction among natural gas utilities in their quest to remain competitive, with several large utilities in the US making RNG-specific announcements in recent years.
In 2018, Dominion Energy (NYSE:D) teamed up with Smithfield Foods to form Align RNG and committed $250 million over 10 years to capture methane from Smithfield's company-owned and contract hog farms and convert it into clean RNG. Just over a year later, the companies doubled the investment to half a billion dollars to become the largest RNG supplier in the US. This additional investment will expand their joint venture beyond its initial projects in Virginia, North Carolina, and Utah, to pursue new projects across the nation, including in Arizona and California.
In 2019, Sempra Energy's (NYSE:SRE) SoCalGas, the largest US gas utility, revealed its plans to replace 5% of its traditional natural gas supply with RNG by 2022 and 20% by 2030 in an effort to become the cleanest natural gas utility in North America. The company has also been campaigning for California to embrace RNG and is pushing for an RNG credit for both residential and commercial customers in the state.
In July, utility giant Duke Energy Corp. (NYSE:DUK) joined the RNG movement by taking a minority stake in SustainRNG, a company focused on capturing bovine emissions of methane on dairy farms in Southwest US. SustainRNG is initially targeting the use of the technology to deploy digesters on dairy farms that use water wash-down manure management and expects to begin its first farm-based project in late 2021.
Meanwhile, Canadian utilities company Fortis Inc. (TSX:FTS) (NYSE:FTS) is working to become the first North American utility provider to offer RNG made from wood waste to its customers in an effort to reduce customers' greenhouse gas emissions by 30% by 2030. The company is teaming up with REN Energy International Corp. to purchase RNG derived from sawdust, wood chips, and bark from its $130-million production facility, which is expected to be in service by next summer and produce 1 million gigajoules of RNG annually.