Greenlane Renewables (GRN) investor relations material

Executive summary

• Advanced commercialization of next-gen Cascade LF landfill gas upgrading technology, including a manufacturing partnership with Panasonic in Brazil and successful Linear NRU testing achieving up to 99.5% methane recovery, positioning for launch later this year.

• Achieved Q2 2026 revenue of $11.3 million and gross profit of $4.4 million, with a gross margin before amortization of 41% and positive Adjusted EBITDA of $0.1 million.

• Cascade LF and Cascade MS products target a CAD 600 million ($600 million) annual addressable market across Brazil, U.S., and Canada, representing a significant growth opportunity.

• Maintained a sales order backlog of $25.6 million and ended the quarter with $12.1 million in cash and no debt.

• Net loss and comprehensive loss totaled $0.9 million, reflecting ongoing investment in next-generation landfill gas upgrading technology.

Financial highlights

• Q2 2026 revenue and adjusted EBITDA were lower year-over-year due to prior period royalty revenue and a large parts order; excluding these, results improved, driven by a $0.9 million increase in system sales revenue.

• Returned to positive adjusted EBITDA in Q2 2026.

• Maintained a strong gross margin before amortization of 41%.

• R&D expenses doubled year-over-year to $0.8 million, reflecting continued investment in innovation.

• Sales order backlog at $25.6 million, not including service and spare parts.

Outlook and guidance

• Production readiness for Cascade LF targeted by end of 2026, with launch readiness later this year and Panasonic investing C$2–3 million in Brazilian manufacturing facilities.

• Step change in business expected from Cascade LF and MS, with ongoing customer engagement and proposal activity.

• Royalty-based revenue from Panasonic partnership expected to support higher margins.

• Ongoing focus on profitable business areas and disciplined cost management to support long-term growth.