CARLISLE, IA--(Marketwire - January 18, 2011) - GreenMan Technologies, Inc. (
Casella Waste Systems, Inc. is an integrated regional solid waste services company that provides collection, transfer, disposal, recycling, and resource management services to residential, industrial, and commercial customers, throughout the eastern United States. The company owns or operates thirty-one solid waste collection operations, thirty transfer stations,
and thirty-four recycling facilities supported by a fleet of more than one thousand vehicles.
APG's dual fuel system converts diesel engines and diesel generators to function more efficiently and at a lower operating cost (net fuel cost savings of 25% - 35%) by seamlessly displacing 40%-70% of the normal diesel fuel consumption with CNG, LNG, or bio-methane. APG's system is non-invasive to the OEM engine and operates within all OEM performance controls with the flexibility to return to 100% diesel operation at any time. APG's dual fuel conversion and emissions reduction systems can help users achieve their sustainability goals through lower carbon monoxide, nitrogen oxide, and particulate matter emissions. In addition, the introduction of natural gas through APG's dual fuel system does not impact diesel engine power or pulling torque and will assist in extending the engine's oil life as natural gas is a cleaner burning fuel compared to diesel.
The EPA test exemptions will allow APG to gather critical engine performance and emission data on a pre-dual fuel and post-dual fuel basis to support EPA approval requirements and commence commercialization of their non-invasive dual fuel upgrade system in the United States. The initial vehicle to be tested for Casella Waste Systems Inc. will be a 2003 DT530
8.6 liter/275HP International refuse truck.
Lyle Jensen, GreenMan's President and Chief Executive Officer, commented, "We are pleased to initiate test trials with Casella Waste Systems, Inc., the 10th largest solid waste company in the United States according to Waste Age magazine's 2010 Waste Age 100. We believe the aftermarket refuse industry will be a large addressed market for effective diesel fuel and diesel emission reduction technologies and this testing is a vital step in APG's move towards commercializing our dual fuel technology."
John W. Casella, Chairman and Chief Executive Officer of Casella Waste Systems, stated: "We recognize that our industry is evolving towards a model that rewards an approach to resource renewal and sustainability. This includes, for us, developing a "greener" fleet as we work towards reducing our diesel emissions ten percent by 2013. To get there, we are using innovation to rethink every aspect of our business and we look forward to working with American Power Group to test and determine the utilization of their alternative fuel technology in the Casella fleet network."
About GreenMan Technologies
GreenMan Technologies, through its subsidiaries, provides technological processes and unique marketing programs for alternative energy, renewable fuels and innovative recycled products. The Company's alternative energy subsidiaries, American Power Group, Inc. (APG) and APG International, Inc. (APGI) provide a cost-effective patented dual fuel technology for diesel engines. APG's dual fuel alternative energy system is a unique external fuel delivery enhancement system that converts existing diesel engines into more efficient and environmentally friendly engines that have the flexibility to run on: 1) diesel fuel and compressed natural gas ("CNG"); 2) diesel fuel and bio-methane, or 3) 100% diesel fuel depending on the circumstances. The proprietary technology seamlessly displaces up to 65% of the normal diesel fuel consumption with CNG or bio-methane and the energized fuel balance between the two fuels is maintained with a patented control system ensuring the engines operate to Original Equipment Manufacturers' ("OEM") specified temperatures and pressures with no loss of horsepower. Installation requires no engine modification unlike the more expensive high-pressure alternative fuel systems in the market. Our Green Tech Products, Inc. subsidiary, develops and markets branded products and services that provide schools and other political subdivisions viable solutions for safety, compliance, and accessibility including recycled surfacing. See additional information at: www.greenman.biz., www.americanpowergroupinc.com, and www.playgroundcompliance.com.
"Safe Harbor" Statement: Under the Private Securities Litigation Reform Act
With the exception of the historical information contained in this news release, the matters described herein contain "forward-looking" statements that involve risks and uncertainties that may individually or collectively impact the matters herein described, including but not limited to the fact that we have sold the tire recycling operations which have historically generated substantially all our revenue and that we will be prohibited from competing in that business on a regional basis until 2013; the risk that we may not be able to increase the revenue or improve the operating results of our Green Tech Products or American Power Group divisions; the risk that we may not be able to return to sustained profitability; the risk that we may not be able to secure additional funding necessary to grow our business, on acceptable terms or at all; the risk that if we have to sell securities in order to obtain financing, the rights of our current stockholders may be adversely affected; the risk that we may not be able to increase the demand for our products and services; the risk that we may not be able to adequately protect our intellectual property; and risks of possible adverse effects of economic, governmental, seasonal and/or other factors outside the control of the Company, which are detailed from time to time in the Company's SEC reports, including the Annual Report on Form 10-K for the fiscal year ended September 30, 2010. The Company disclaims any intent or obligation to update these "forward-looking" statements.
Contact Information:
Contacts:
Chuck Coppa, CFO
or Lyle Jensen, CEO
GreenMan Technologies, Inc.
781-224-2411
Investor Relations Contacts:
John Nesbett
or Jennifer Belodeau
Institutional Marketing Services (IMS)
203-972-9200