SOURCE: GreenMan Technologies Inc.

June 11, 2008 09:56 ET

GreenMan Technologies Announces Agreements With State School Board Associations in Iowa, Missouri, Minnesota, and California

DES MOINES, IA--(Marketwire - June 11, 2008) - GreenMan Technologies, Inc. (OTCBB: GMTI), a leading regional tire recycler and emerging leader in patented cold-cure recycled rubber molded products, announced that its wholly owned recycled products subsidiary, Welch Products, has signed new five-year business development and product endorsement agreements with four state school board associations to provide state-of-the-art playground compliance programs to their member school districts. The agreements were entered into by Welch's playground division, National Safe Surfacing Initiative (NSSI). NSSI has agreements with state school board associations in Iowa, Missouri, Minnesota and California. Under the brand name of the National Playground Compliance Group, (NPCG), the company's playground compliance programs offer school districts a full portfolio of safety design assessments, playground and outdoor fitness equipment, recycled rubber surfacing, and installation solutions with an integrated approach to child safety, ADA accessibility and risk mitigation. Additionally, NPCG will assist school districts in identifying financing alternatives for their playground projects.

Lyle Jensen, CEO of GreenMan Technologies stated, "We are pleased to have the opportunity to offer our safety compliance methods, products and our green technology to this group of state school board associations. The goal of NPCG is to provide safe solutions that better protect our children, schools and the environment and we believe the establishment of these multi-year contracts creates a valuable channel to effectively leverage our marketing and manufacturing capabilities on both a regional and a national level."

Tim Mahoney, President of NSSI added, "These agreements create a unique platform for us to launch our new portfolio of playground and business solutions. Our customers requested turn-key playground solutions that are safe, fun, ADA compliant and cost effective and our successful history of working with school board associations combined with the operational synergies derived from the completion of our recent merger enabled us to enhance our programs to more effectively meet the demands of our clients."

About GreenMan Technologies

GreenMan Technologies pursues technological processes and unique marketing programs to transform recycled materials into renewable fuel, alternative energy, recycled feedstock, and innovative recycled products. Over twelve million tires are collected and recycled annually into tire-derived fuel, tire-derived aggregate, and crumb rubber feedstock for playground, athletic track and field, and road surfacing. Through GreenMan's subsidiary, Welch Products, the company develops and markets branded products and services that provide schools and other political subdivisions viable solutions for safety, compliance, and accessibility. To learn more about all of the companies, please visit the following websites: www.welchproducts.com, www.nssi-usa.com, www.playtribe.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 risk and uncertainties that may individually or collectively impact the matters herein described, including but not limited to the possibility that we may not be able to secure the financing necessary to return to sustained profitability, our ability to successfully integrate the recent Welch Products acquisition and realize the anticipated benefits, the possibility that we may not realize the benefits of product acceptance, economic, competitive, governmental, seasonal, management, technological 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 Quarterly Report on Form 10-QSB for the fiscal period ended March 31, 2008. 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
    800-526-0860