SOURCE: GreenMan Technologies Inc.

July 10, 2008 11:16 ET

Update - Iowa Scrap Tire Program to Reuse 500,000 Pounds of Recycled Rubber

GreenMan Technologies, Inc. Selected to Facilitate Program

DES MOINES, IA--(Marketwire - July 10, 2008) - GreenMan Technologies (OTCBB: GMTI): Green is the new color of Iowa playgrounds thanks to an environmentally inspired partnership between the Iowa Department of Natural Resources (DNR), the Iowa Association of School Boards (IASB), GreenMan Technologies, Inc. and its wholly owned subsidiary, Welch Products, Inc.

The IASB is implementing the Iowa Safe School Playground Initiative, a program designed to heighten awareness around the benefits of recycling Iowa scrap tires and provide recycled rubber safety tiles to selected school playgrounds.

The Iowa DNR provided matching grant awards in the form of rubber tiles for playground surfacing made from recycled Iowa tires, and Welch Products' subsidiary, National Safe Surface Initiative (NSSI), will supply the recycled rubber safety tiles. This recycling education initiative will generate consumption of more than .5 million pounds of recycled crumb rubber. NSSI will be responsible for the initial site visit, design, installation oversight, ADA playground access certification, and Consumer Products Safety Commission safety certification upon completion of each project. More than 20 playground grants were awarded to Iowa schools. To receive this grant assistance, selected schools must hold an educational program showcasing the long-term benefits of environmental responsibility and recycling scrap tires.

Brian Tormey, Chief of Iowa DNR's Land Quality Bureau, said that IASB selecting GreenMan to facilitate this initiative was a natural choice. "Our office has worked with GreenMan over the years in the clean-up of illegal tire piles." Mr. Tormey added, "We are enthusiastic about our combined role in this recycling initiative focused on creating viable end-product markets for these scrap tires while also demonstrating to our school children the true benefits of recycling."

Lyle Jensen, Chief Executive Officer of GreenMan, noted, "There are multiple benefits of this program. The scrap tire education initiative not only provides our kids with safer, cleaner playgrounds, but it also provides a creative model for implementing recycled products. Using recycled rubber tiles improves child playground safety and provides ADA playground accessibility." Mr. Jensen added, "It also enhances the playground environment, which may encourage increased playtime and exercise activities that contribute to the fight against childhood obesity."

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