SOURCE: GreenMan Technologies, Inc.

GreenMan Technologies, Inc.

August 25, 2009 09:00 ET

GreenMan Technology's Subsidiary Executes Exclusive Business Development Agreement With the Oklahoma State School Boards Association

CARLISLE, IA--(Marketwire - August 25, 2009) - GreenMan Technologies, Inc. (OTCBB: GMTI) today announced its subsidiary, National Playground Compliance Group ("NPCG"), has entered into an exclusive business development agreement with the Oklahoma State School Boards Association ("OSSBA").

Lyle Jensen, GreenMan's Chief Executive Officer stated, "Our agreement with OSSBA is our fifth exclusive state school board endorsement agreement, adding to our existing exclusive agreements in California, Iowa, Minnesota and Missouri. Our goal as we enter fiscal 2010 is to add several new 'warm weather' states which should allow us to mitigate some of the seasonality we experience during the colder months of the year."

Tim Mahoney, NPCG's President, stated, "With the recent re-authorization of the Americans with Disabilities ('ADA') Act, school boards are embracing NPCG's compliance program and offerings in anticipation of expanded funding for special education and a continued strong commitment to build new facilities with green technology. NPCG's role will be to assist state schools, school board associations, parent groups and state's Department of Education with their playground regulation, product and compliance requirements. We look forward to a successful partnership with OSSBA and assisting Oklahoma schools in deploying safe, accessible and green playgrounds for their school children."

"We are excited to partner with NPCG for this program," added Dr. Jeff Mills, OSSBA's Executive Director. "The OSSBA will work exclusively with NPCG to help school districts improve safety, accessibility and fitness opportunities for our children and we expect this partnership will be a valuable asset for our schools." Dr. Mills added, "OSSBA and NPCG will formally launch the 'Oklahoma Playground Compliance Program' at OSSBA's annual state wide conference and exposition, August 28-30, 2009 at the Cox Center in Oklahoma City."

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 duel 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 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.

"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 facts that we have sold the tire recycling operations which have historically generated substantially all our revenue, the risk that we may not be able to increase the revenue of our Green Tech Products the risks that we may not be able to identify and acquire complementary businesses and that we may not be able successfully to integrate any such acquisitions with our current businesses, 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, and the 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-KSB for the fiscal period ended September 30, 2008. The Company disclaims any intent or obligation to update these "forward-looking" statements.

Contact Information

  • GreenMan Contacts:
    Chuck Coppa
    CFO
    Lyle Jensen
    CEO
    781-224-2411

    Investor Relations:
    Jennifer Belodeau
    John Nesbett
    Institutional Marketing Services
    203-972-9200