CARLISLE, IA--(Marketwire - February 7, 2011) - GreenMan Technologies, Inc. (
Waste Connections of Colorado, Inc. is a wholly-owned subsidiary of Waste Connections, Inc., an integrated solid waste services company that provides solid waste collection, transfer, disposal, and recycling services in mostly secondary markets in the Western and Southern U.S. The company serves more than two million residential, commercial and industrial customers across 27 states. Waste Connections also provides intermodal services for the movement of solid waste and cargo containers in the Pacific Northwest. The company was founded in September 1997 and is headquartered in Folsom, CA.
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 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 Waste Connections of Colorado, Inc. will be a 2007 11.5Liter /405 HP Mack refuse truck operating in the Denver metropolitan area.
Lyle Jensen, GreenMan's President and Chief Executive Officer, stated, "We are pleased to initiate test trials with Waste Connections which is the fifth largest solid waste company in the United States according to Waste Age magazine's 2010 Waste Age 100. With this announcement, two of the top ten solid waste companies in the United States have elected to test our APG dual fuel system which supports our belief that the aftermarket refuse industry will be a large addressed market for commercializing our dual fuel technology. Waste Connections, which operates a fleet of over 3,000 vehicles nationwide, is dedicated to implementing meaningful sustainability initiatives which include using CNG and LNG as an alternative to diesel fuel, as well as harvesting methane gas from landfills to generate renewable energy to power homes, small industry, and eventually, their fleets. Our test trials will start with a conversion to compressed natural gas and we anticipate future tests could include landfill bio-methane and other bio-gas sources of fuel."
Greg Thibodeaux, Vice President of Maintenance & Fleet Management for Waste Connections, stated, "Our EPA test trial with American Power Group is a continuation of our efforts to evaluate and integrate emerging technologies into our waste hauling and disposal operations. Benefits from these successful projects would include decreasing our nation's dependence on foreign oil, reducing greenhouse gas emissions, and stimulating economic growth by creating green jobs. We look forward working with APG to validate the benefits of their technology."
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
Lyle Jensen, CEO
GreenMan Technologies, Inc.
781-224-2411
Investor Relations Contacts:
John Nesbett or Jennifer Belodeau
Institutional Marketing Services (IMS)
203-972-9200