VANCOUVER, BC, Aug. 23,
2024 /CNW/ - Greenlane Renewables Inc.
("Greenlane") (TSX: GRN) (FSE: 52G) today announces
changes to its senior management team, which are effective
immediately. Ian Kane, currently
President and Chief Executive Officer ("CEO") has submitted his
resignation. Ian has left the role of CEO but will continue as
President for approximately three months to assist in the
transition of the new roles in the senior management team, after
which he will leave the Company. Brad
Douville, who has been the Company's Executive Vice Chair,
has left that role to re-assume the role of CEO, a position he held
from June 2019 through August 2023. Alex
Chassels has left his position as Chief Operating Officer
("COO") of the Company and has left the Company. Maura Lendon, who has been Greenlane's Chief
Legal Officer, has left that role to assume the role of COO. Ian
and Brad will continue as members of the Board of Directors.
"When Ian was hired over a year ago, he was tasked with working
with the Board, Brad and the senior team to plot a path towards a
sustainable business plan while also giving Brad the bandwidth to
pursue unique strategic opportunities and partnerships," said
Wade Nesmith, Greenlane's Board
Chair. "As previously reported, considerable work has been
accomplished in that effort. The Company is focused on its
strengths; expanding the successful business of its Italian
subsidiary Airdep, pushing forward with its growing upgrader
business with key industry leaders in Brazil, working to extend its service
offerings and continuing to offer a more focused portfolio of
unique standardized products in the North American upgrader
market.
"Ian's work over the past year in a dynamic RNG market has been
challenging and I want to take this opportunity to thank him for
his efforts on our behalf," continued Mr. Nesmith. "We are a much
more focused and efficient company than we were a year ago and much
of that is due to Ian's vision and leadership. I would also like to
thank Alex for his efforts over the past two years as our COO. And
I am very pleased to welcome Maura to her new role. I've worked
with Maura, in different roles, for over a decade, including as a
key executive within Greenlane over the last three years, and I
look forward to her work in this critical corporate role."Finally,
I am happy to welcome Brad back as CEO. His strategic work over the
past 12 months has positioned us well to achieve a sustainable
business model in an increasingly challenging market. We look
forward to turning the corner to profitability under his
leadership."
About Greenlane Renewables
Greenlane is driving
change: accelerating the energy transition to a net-zero emissions
economy. We are cleaning up two of the largest and most difficult
to decarbonize sectors of the global energy system: the natural gas
grid and commercial transportation. As a pioneer and leading
specialist in biogas upgrading, we have been actively contributing
to the decarbonization of our planet for over 35 years. The systems
we provide transform biogas generated from organic waste into
high-value grid-ready renewable natural gas ("RNG"). Our systems
produce clean, low-carbon and carbon-negative RNG from organic
waste sources including agriculture (such as dairy and hog manure),
water resource recovery facilities, food waste, landfills, and
sugar mills. Greenlane is the only biogas upgrading company
offering and actively deploying the three main upgrading
technologies: waterwash, pressure swing adsorption, and membrane
separation, plus proprietary biogas desulfurization technology.
Greenlane has delivered over 145 biogas upgrading systems into 19
countries, including some of the largest RNG production facilities
in the world, and over 160 biogas desulfurization units. For
further information, please visit www.greenlanerenewables.com.
FORWARD LOOKING INFORMATION – This news release contains
"forward-looking information" within the meaning of applicable
securities laws. All statements contained herein that are not
historical in nature contain forward-looking information.
Forward-looking information can be identified by words or phrases
such as "will", "is expected", "likely", "plan", "anticipate",
"look forward", or the negative of these terms, or other similar
words, expressions and grammatical variations thereof, or
statements that certain events or conditions "can", "may" or "will"
happen, or that present events will continue. In particular, this
news release contains forward looking information relating to
Ian Kane continuing as President for
approximately three months; that Ian
Kane and Brad Douville will
continue as board members; and management's expectations that the
Company is positioned well to achieve a sustainable business model
and turn the corner to profitability. The forward-looking
information contained herein is made as of the date of this press
release and is based on assumptions management believed to be
reasonable at the time such statements were made, including
management's perceptions of future growth and expected future
developments, as well as other considerations that are believed to
be appropriate in the circumstances. While management considers
these assumptions to be reasonable based on information currently
available to management, there is no assurance that such
expectations will prove to be correct. By their nature,
forward-looking information is subject to inherent risks and
uncertainties that may be general or specific and which give rise
to the possibility that expectations, forecasts, predictions,
projections or conclusions will not prove to be accurate, that
assumptions may not be correct and that objectives, strategic goals
and priorities will not be achieved. A variety of factors,
including known and unknown risks, many of which are beyond the
Company's control, could cause actual results to differ materially
from the forward-looking information in this press release.
Additional risk factors can also be found in the Company's
Management Discussion and Analysis, its Annual Information Form and
in its base shelf prospectus dated January
4, 2024, all of which have been filed under the Company's
SEDAR+ profile at www.sedarplus.com. Readers are cautioned not to
put undue reliance on forward-looking information. The Company
undertakes no obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by applicable law. Forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement.
SOURCE Greenlane Renewables Inc.
