Greenlane Renewables Inc T.GRN

TD's Take

[ace1mccoy]

 

Development Project Announced

Event
 

Greenlane will deploy US$0.9 million in development capital toward a dairy-based

RNG project.
 

Impact: POSITIVE
 

Details: Greenlane will deploy US$0.9 million in the form of a convertible note

loan toward a US$15.0 million dairy-based RNG project that is currently in a preconstruction phase. Funds will be released when specific milestones are achieved

and are intended to progress the project toward a construction financing stage in

Q4/22 as well as progress other opportunities in its pipeline. Greenlane has the

option to convert the note into an equity interest in the development company.
 

TD View: This announcement marks the first deployment of development capital

since the company intended to pursue this strategy last year. A key part of the

strategy for Greenlane is to ensure that it also secures the sale of its biogas

upgrading systems, and note that this announcement is likely to result in a followon equipment sale award if the project ultimately goes ahead. We have not made

any specific modelling assumptions related to development capital opportunities and

will update our forecast following a discussion with management and at the next

available opportunity

[Canadian_101]

Its great that TD is going to provide a further update to this fantastic news but to be honest I think anyone with a brain in their head that is functioning at all can see the writing on the wall and  that is GRN is in the right place at the right time.... I had to post this statement from Bdad once again... This is the first of what we expect to be many opportunities to provide specialized

[retiredcf]

This is a flash report so there's potential for them to raise their current target of $1.60. GLTA