Ms. Stephanie Mason reports

GREENLANE RENEWABLES EXTENDS CREDIT FACILITY FOR $20 MILLION

Greenlane Renewables Inc. has extended its $20-million standby letter of credit facility to Sept. 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 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, chief financial officer 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 Inc.

At Greenlane, it is a relentless innovator solving the toughest challenges. At a time when new solutions are urgently needed, it is accelerating the energy transition to a net-zero emission economy. As a pioneer and leading global specialist in biogas desulphurization and upgrading, it has been actively contributing to the decarbonization of the planet for over 35 years with more than 500 systems sold into 32 countries. The systems it supplies transform biogas generated from organic waste into high-value, low-carbon renewable natural gas for gas networks, transportation and industry from a wide range of sources such as landfills, sugar mills, dairy farms, waste water and food waste. Greenlane is transforming energy production through new technology without adding new technology risk, making RNG more accessible and scalable for its customers -- all while dramatically reducing carbon emissions.

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