LYNNFIELD, MA--(Marketwire - Nov 22, 2011) - GreenMan Technologies, Inc. (
APG's dual fuel system converts diesel engines and diesel generators to function more efficiently and at a lower operating cost (average net fuel cost savings of 30% - 40%) by seamlessly displacing 40%-70% of the normal diesel fuel consumption with CNG, LNG, well-head gas, 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.
Lyle Jensen, GreenMan's President and Chief Executive Officer, stated, "We are pleased to see continued progress in expanding the use of our APG Dual Fuel Conversion systems in Africa. With this order, we will be approaching 130 vehicles operating with our dual fuel system and anticipate additional orders as local customers have made measureable progress over the past several months towards establishing the necessary natural gas fueling infrastructure required to continue their fleet conversion to dual fuel."
About GreenMan Technologies
GreenMan's alternative energy subsidiary, American Power Group, Inc., provides a cost-effective U.S. patented dual fuel aftermarket conversion technology for diesel engines and diesel generators. American Power Group's dual fuel technology is a unique non-invasive energy 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; (2) diesel fuel and liquid natural gas; (3) diesel fuel and well-head gas; and (4) diesel fuel and bio-methane, with the flexibility to return to 100% diesel fuel operation at any time. The proprietary technology seamlessly displaces 40% to 60% of the normal diesel fuel consumption and the energized fuel balance is maintained with a proprietary electronic controller system ensuring the engines operate to original engine manufacturers' specified temperatures and pressures. Aftermarket installation on a wide variety of engine models and end-market applications requires no engine modification unlike some invasive alternative fuel systems in the market. See additional information at: www.greenman.biz and www.americanpowergroupinc.com.
Caution Regarding Forward-Looking Statements
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 risk that we may not be able to complete the transactions described in this release, the fact 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 or improve the operating results of our American Power Group division; 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 our 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.
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