SOURCE: GreenMan Technologies, Inc.

GreenMan Technologies,  Inc.

March 09, 2010 09:00 ET

GreenMan Technologies Subsidiary Executes Business Development Agreement With the Nebraska Association of School Boards

Partnership Will Enhance Playground Compliance Efforts

CARLISLE, IA--(Marketwire - March 9, 2010) -  GreenMan Technologies, Inc. (OTCBB: GMTI) announced today that its subsidiary, National Playground Compliance Group ("NPCG"), has entered into a preferred business development agreement with the Nebraska Association of School Boards ("NASB"). The NASB will assist NPCG's entry into Nebraska's public school market and support the expansion of NPCG's playground compliance offerings to schools throughout the state. NASB and NPCG will formally launch the "Nebraska Playground Compliance Program" through a series of regional Playground Compliance Symposiums slated for late March and early April 2010.

Tim Mahoney, NPCG's President, noted, "We look forward to a successful partnership with NASB. Nationally there is a renewed focus on the importance of playgrounds in the community, with schools being a primary focus. Providing easier access to playgrounds and improving play areas for children are key components to meeting the accessibility requirements put forth in the 2008 ADA Amendment Act and also towards efforts to fight childhood obesity. Likewise, we have seen an increase in the number of schools requiring the use of LEED certified products in construction projects as the emphasis on energy conservation and protection of the environment continues to grow and we believe NPCG is well positioned to provide the necessary solutions and products to these funded initiatives."

"We are excited to partner with NPCG for this necessary program," added Dr. John Boninauto, NASB's Executive Director. "The NASB believes our involvement with NPCG will be a valuable asset for schools as it provides solutions for multiple school initiatives including, ADA accessibility, child wellness and fitness and green technology construction."

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 subsidiary, American Power Group, Inc. (APG) provides 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 70% 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, the company 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.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, 2009. 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
    781-224-2411

    Investor Relations Contacts:
    Jennifer Belodeau
    or
    John Nesbett
    Institutional Marketing Services (IMS)
    203-972-9200