Greenlane Renewables Inc.

Thank you for standing by. Welcome to the Green Lane Renewables, Inc. 4th Quarter 2023 Results Conference Call. At this time, all participants are in listen-only mode. Following the results, we will conduct a question and answer session. To join the question queue, you may press star then 1 on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star and 0. Today's call is being recorded and the replay will be available on the Green Lane website. I'll now turn the call over to Darren Seed from Insight Capital Markets. You may begin your conference.

Thank you, operator, and good afternoon. Welcome to the GreenLane Renewables fourth quarter and fiscal year-end 2023 conference call. I'm joined today by Ian Cain, GreenLane's President and Chief Executive Officer, and Monty Balderson, GreenLane's Chief Financial Officer. Before beginning our formal remarks, we'd like to remind listeners that today's discussion may contain forward-looking statements that reflect current views with respect to future events. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in those forward-looking statements. Greenland Renewables does not undertake to update any forward-looking statements except as may be required by applicable laws. Listeners are urged to review the full discussion of risk factors in the company's annual information form, which has been filed with Canadian securities regulators. Lastly, while the conference call is open to the public, and for the sake of brevity, questions will be prioritized for analysts. Now, I'll turn the call over to Ian.

Good afternoon and thank you for participating on today's call. I'll cover some of the events in 2023 and then focus on our goals in 2024 and the path ahead. In 2023, our focus was on preparing the business for future growth, scaling and positive adjusted EBITDA in 2024. We continue on this journey of business foundation building and are happy with our progress to date. We have invested in and implemented processor systems to enable us to scale sustainably. We are transitioning from an engineered-to-order to a configured-to-order business model, emphasizing standard products to streamline our costs and enhance our competitiveness in the market. This accelerates our ability to increase the sales pipeline, revenue, and enhance our bottom line. In 2023, we've progressed 28 active biogas upgrading projects, demonstrating our team's experience and capacity. This puts us among the global industrial industry leaders and with a broad variety of solutions and configurations that are unparalleled. We announced $42.5 million in new sales Contracts featuring $35.3 million for landfill to RNG projects in Brazil announced in October. As we mature our business, we have prioritized cost management or realigning our cost structure and focusing on efficiency in our supply chain execution. These efforts are expected to contribute to our goals of achieving positive adjusted EBITDA in 2024, as was achieved in 2021, and maintaining cash reserves. Our dedicated team closely aligned with our customers ensures the delivery of quality services and products. I am confident and excited about our strong future, considering the foundation work we have done and continue to do. With respect to the market backdrop, the RNG market is maturing and customers are becoming more sophisticated, shifting towards both larger projects and larger portfolio of projects. And this is influencing how we are orientating our business model going forward. Our sales funnel is robust, giving us confidence in our approach. And we're particularly excited about Brazil and North America. with extensive interest from multiple repeat customers and new customers. Additionally, the collaboration agreement that we entered into last year with ZAG Biogas to establish industrial-scale volume production locally in Brazil is structured to provide revenue under a new royalty-like business model together with service contracts. While the changes underway will take time, for the full benefit to reflect in our financial results. We expect to reflect our resilience, adaptability, and commitment to deliver on our overall long-term results to grow our product sales into existing and exciting new markets. I look forward to keep the public informed of our progress. and want to thank Greenland employees for their continued hard work and drive and I look forward to bringing you further updates as we progress. With that, we will now turn the call over to Monty.