CARLISLE, IA--(Marketwire - October 6, 2010) - GreenMan Technologies, Inc. (
For LNG applications, APG's Dual Fuel System converts existing diesel engines to operate on a blend of diesel and natural gas to provide lower operating costs to the operator. The system displaces up to 50 percent of the normal diesel fuel consumption with LNG that is converted to compressed natural gas for vehicular operation. 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 will assist in extending the engine's operating life as natural gas is a cleaner burning fuel compared to diesel.
APG technicians will arrive in Perth, Western Australia in October to install the APG Dual Fuel System on two Wesfarmers LNG customers' vehicles. Following on-dynamometer tuning, the APG Dual Fuel System will run on the customers' vehicles until January 2011, traveling an estimated 40,000 miles (65,000km) during their normal business duty cycle.
Lyle Jensen, GreenMan's President and Chief Executive Officer, stated, "We are extremely pleased that an industry leader such as Wesfarmers LNG is prepared to test our non-invasive dual fuel system in the challenging Western Australian environment to be evaluated against other dual fuel and dedicated alternative fuel systems presently available. LNG has six hundred times the density of natural gas vapor and three times the density of compressed natural gas (CNG), so it is easier and less expensive to transport over longer distances. This also allows for the storage of large quantities of LNG where there are no natural gas pipelines. In this application, we are using LNG that has been converted to CNG through a heat exchanger system just prior to entering APG's digital dual fuel system."
Commenting on the trials, Kleenheat Gas General Manager Graham Smith said: "During our field visits earlier this year, we were extremely impressed with APG's Dual Fuel System and we welcome this technology into Australia."
Mr. Smith added, "Wesfarmers LNG is leading the development of LNG as a viable long term alternative fuel to diesel in the Australian heavy-duty vehicle, industrial, and remote power generation markets. We are proud to be at the forefront of how LNG is changing the direction of road transport in Australia."
Mr. Jensen concluded, "The testing is scheduled to last 90 days, commencing this month and we believe that a significant number of Australian trucks and power generators could benefit from our combined technologies and infrastructure. Should the trial between Wesfarmers LNG and APG be successful, both parties would look forward to strengthening their relationship in the long term."
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, 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
About Kleenheat Gas
Kleenheat Gas extracts, distributes and markets liquefied petroleum gas (LPG), and is a leading provider of gas services to residential, commercial, industrial, rural and automotive markets across Australia. Through its subsidiary Wesfarmers LNG and its Evol LNG brand, it is the leading provider of liquefied natural gas (LNG) to the heavy duty vehicle and remote power generation markets in Australia. Kleenheat Gas is part of Wesfarmers Chemicals, Energy & Fertilisers which operates chemical, gas, remote power generation and fertiliser businesses servicing customers domestically and internationally. Wesfarmers Chemicals, Energy & Fertilisers is a division of the diversified conglomerate Wesfarmers Limited, one of Australia's largest publicly listed companies achieving AUD$50 billion in annual revenue and employing more than 200,000 employees in Australia and New Zealand.
Please see: www.kleenheatgas.com.au for further information regarding Kleenheat Gas, www.evollng.com.au for further information regarding Wesfarmers LNG, and www.wescef.com.au for further information regarding the Wesfarmers Chemical, Energy & Fertilisers group of businesses.
"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
Lyle Jensen
CEO
GreenMan Technologies
781-224-2411
Investor Relations Contacts:
John Nesbett or Jennifer Belodeau
Institutional Marketing Services (IMS)
203-972-9200