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Greenlane Renewables Up 12% After Signing Definitive Agreements With Panasonic

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Greenlane Renewables (GRN.TO) shares rose 12% on Monday after it signed definitive agreements with Panasonic do Brasil Limitada to localize production of the company's proprietary next-generation Cascade LF landfill gas upgrading technology in Brazil.

Greenlane and Panasonic will partner to establish volume production of Greenlane's Cascade LF and Cascade MS proprietary standard product lines. Panasonic has been granted a technology license for fabricating the products in Brazil, it said.

Panasonic will also produce the Greenlane branded product modules in its facilities in Sao Jose dos Campos in the Brazilian state of Sao Paulo, investing in facility modifications, tooling, and production equipment, while also providing the necessary working capital and advance payment assurances to meet customer needs. Panasonic's initial investments are expected to be in the range of $2 million to $3 million.

The company retains responsibility for product design, management of the supply chain including supplier selection and supplier quality assurance, marketing and sales, and commissioning and servicing of the products, it said. The target is to be ready to ship the first system by the end of 2026.

Shares of the company were last seen up $0.03 at $0.27 on the Toronto Stock Exchange.

Price: $0.28, Change: $+0.04, Percent Change: +14.58%

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