Greenlane Renewables Extends Credit Facility for $20 Million

~Facility supports Company's ability to pursue and execute new system sales~

VANCOUVER, BC, Oct. 6, 2026 /CNW/ -- Greenlane Renewables Inc. ("Greenlane" or the "Company") (TSX: GRN) (FSE: 52G) today announced that the Company has extended its $20 million standby letter of credit facility (the "Facility") to September 30, 2027. The Facility is secured by a guarantee from Export Development Canada.

The Facility enhances Greenlane's ability to pursue and execute new biogas upgrading system sales in the global renewable natural gas ("RNG") market by providing financial flexibility. In some situations, system sales contracts require suppliers to provide letters of credit or other financial assurances at various stages of a project. The Facility helps Greenlane maintain the capacity to meet these requirements when they are needed without constraining the Company's ability to pursue new system opportunities, while preserving healthy cash reserves.

"The renewal of our $20 million credit facility provides extra financial capacity as we pursue new system sales and advance our growth initiatives," said Stephanie Mason, CFO of Greenlane. "In Brazil for example, our project developer customers may require financial assurances from suppliers of equipment and services to secure project financing. Under the technology licensing royalty model for the sale of Greenlane's new Cascade LF and Cascade MS product lines, and related partnership announced earlier this year with Panasonic, Greenlane proprietary equipment modules are sold directly to customers by Panasonic and third party equipment is sold directly to customers by those third parties. In this way, Panasonic and third party equipment suppliers bring not only their respective manufacturing expertise, but also the strength of their balance sheets to support sales growth. The result is a considerable reduction in the financial assurances Greenlane may be required to provide, which is supported by the Facility."

About Greenlane Renewables
At Greenlane, we are relentless innovators solving the toughest challenges. At a time when new solutions are urgently needed, we are accelerating the energy transition to a net-zero emissions economy. As a pioneer and leading global specialist in biogas desulfurization and upgrading, we have been actively contributing to the decarbonization of our planet for over 35 years with more than 500 systems sold into 32 countries. The systems we supply transform biogas generated from organic waste into high-value, low-carbon renewable natural gas ("RNG") for gas networks, transportation and industry from a wide range of sources such as landfills, sugar mills, dairy farms, wastewater, and food waste. Greenlane is transforming energy production through new technology without adding new technology risk, making RNG more accessible and scalable for our customers - all while dramatically reducing carbon emissions. Partner with us, let's accelerate the energy transition together. 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 "may", "is expected", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" 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. In particular, this news release contains forward looking information regarding the Company's expectations that the extension of the credit facility enhances its financial flexibility and the Company's ability to pursue and execute new biogas upgrading system sales; the ability of the credit facility to help the Company maintain financial assurances required in sales contracts while preserving healthy cash reserves; and the expectations that the partnership with Panasonic will bring the strength of Panasonic's balance sheet which can help support sales growth. 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 and its Annual Information Form, 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.

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