Contact Information: Contacts: Chuck Coppa CFO or Lyle Jensen CEO GreenMan Technologies 800-526-0860
GreenMan Technologies Announces Agreements With State School Board Associations in Iowa, Missouri, Minnesota, and California
| Source: GreenMan Technologies Inc.
DES MOINES, IA--(Marketwire - June 11, 2008) - GreenMan Technologies, Inc. (OTCBB : GMTI ), a
leading regional tire recycler and emerging leader in patented cold-cure
recycled rubber molded products, announced that its wholly owned recycled
products subsidiary, Welch Products, has signed new five-year business
development and product endorsement agreements with four state school board
associations to provide state-of-the-art playground compliance programs to
their member school districts. The agreements were entered into by Welch's
playground division, National Safe Surfacing Initiative (NSSI). NSSI has
agreements with state school board associations in Iowa, Missouri,
Minnesota and California. Under the brand name of the National Playground
Compliance Group, (NPCG), the company's playground compliance programs
offer school districts a full portfolio of safety design assessments,
playground and outdoor fitness equipment, recycled rubber surfacing, and
installation solutions with an integrated approach to child safety, ADA
accessibility and risk mitigation. Additionally, NPCG will assist school
districts in identifying financing alternatives for their playground
projects.
Lyle Jensen, CEO of GreenMan Technologies stated, "We are pleased to have
the opportunity to offer our safety compliance methods, products and our
green technology to this group of state school board associations. The
goal of NPCG is to provide safe solutions that better protect our children,
schools and the environment and we believe the establishment of these
multi-year contracts creates a valuable channel to effectively leverage our
marketing and manufacturing capabilities on both a regional and a national
level."
Tim Mahoney, President of NSSI added, "These agreements create a unique
platform for us to launch our new portfolio of playground and business
solutions. Our customers requested turn-key playground solutions that are
safe, fun, ADA compliant and cost effective and our successful history of
working with school board associations combined with the operational
synergies derived from the completion of our recent merger enabled us to
enhance our programs to more effectively meet the demands of our clients."
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.