Greenlane Renewables closes acquisition of Airdep
Greenlane Renewables has closed its acquisition of Airdep – a provider of biogas desulphurisation and air deodorisation products based in Vicenza, Italy.
The acquisition of Airdep brings in-house an effective and proven technology to remove hydrogen sulphide (H2S) from biogas for integration with Greenlane’s portfolio of biogas upgrading systems that produce low-carbon and carbon-negative RNG.
Over the last 10 years, Airdep has deployed over 100 H2S treatment systems that use a proprietary liquid reagent media for the removal of HS2 in biogas. The liquid media is regenerated and recirculated within the process to minimise operating costs.
Airdep has a history of generating profits with expected 2021 revenue of approximately CAD$5 million (€3.4 million).
In a statement made in December when Greenlane first announced the acquisition, the company's CEO, Brad Douville, commented: “Every biogas-to-RNG project requires H2S treatment. The addition of Airdep’s proven technology to our industry-leading biogas upgrading solutions enables us to bring even more value to customers.
“Our search for the best commercially available H2S treatment technologies, particularly for higher flow, higher H2S concentration applications, led us to Airdep. We believe the price-performance of its products is compelling and will expand their use across a broader set of applications.”
Airdep has demonstrated strong revenue growth but so far this has largely been in the Italian market, which currently accounts for 90% of its revenue. Greenlane sees an opportunity to expand the geographic scope of sales of these products to the rest of Europe, to North and South America and the rest of the world.
Andrea Valerio, founder and sole owner of Airdep, said the company is “excited” to become part of Greenlane Renewables. Valerio continues his leadership of Airdep as managing director.
The acquisition of Airdep brings in-house an effective and proven technology to remove hydrogen sulphide (H2S) from biogas for integration with Greenlane’s portfolio of biogas upgrading systems that produce low-carbon and carbon-negative RNG.
Over the last 10 years, Airdep has deployed over 100 H2S treatment systems that use a proprietary liquid reagent media for the removal of HS2 in biogas. The liquid media is regenerated and recirculated within the process to minimise operating costs.
Airdep has a history of generating profits with expected 2021 revenue of approximately CAD$5 million (€3.4 million).
In a statement made in December when Greenlane first announced the acquisition, the company's CEO, Brad Douville, commented: “Every biogas-to-RNG project requires H2S treatment. The addition of Airdep’s proven technology to our industry-leading biogas upgrading solutions enables us to bring even more value to customers.
“Our search for the best commercially available H2S treatment technologies, particularly for higher flow, higher H2S concentration applications, led us to Airdep. We believe the price-performance of its products is compelling and will expand their use across a broader set of applications.”
Airdep has demonstrated strong revenue growth but so far this has largely been in the Italian market, which currently accounts for 90% of its revenue. Greenlane sees an opportunity to expand the geographic scope of sales of these products to the rest of Europe, to North and South America and the rest of the world.
Andrea Valerio, founder and sole owner of Airdep, said the company is “excited” to become part of Greenlane Renewables. Valerio continues his leadership of Airdep as managing director.
