Contact Information: Contacts: Chuck Coppa CFO GreenMan Technologies 800-526-0860 or Lyle Jensen CEO GreenMan Technologies 800-526-0860
GreenMan Technologies, Inc. Subsidiary Awarded Multiple Contracts for Minnesota Schools
Successful Launch of Minnesota Playground Compliance Program Generates $330,000 of New Business in Last 90 Days
| Source: GreenMan Technologies Inc.
DES MOINES, IA--(Marketwire - September 8, 2008) - GreenMan Technologies, Inc. (OTCBB : GMTI ), a
leading regional tire recycler of over 12 million scrap tires per year and
emerging leader in patented cold-cure recycled rubber molded products,
today
announced that its wholly owned recycled products subsidiary, Welch
Products, has been awarded multiple playground projects with several
Minnesota School Districts. The agreements were entered into by Welch's
playground division, National Safe Surfacing Initiative ("NSSI").
The projects include the surfacing, equipment and installation of seven
playgrounds in five school districts with combined revenues of
approximately $330,000. The contracts were awarded to NSSI via the
Minnesota Playground Compliance Program, a safety partnership formed
between NSSI, through its branded "National Playground Compliance Group"
("NPCG") and the Minnesota School Board Association ("MSBA").
Shannon Godwin, NPCG's Senior Program Manager for Minnesota, commented,
"This year was our initial launch into the Minnesota market and our goal
was to establish the 'NPCG best practices playground model' for school
administrators to trust and embrace. These contracts reflect the success of
our technical and educational approach to playground design, product
development and safety compliance."
Lyle Jensen, GreenMan's President and Chief Executive Officer, stated, "We
are excited with the progress and validation of our NPCG value model in its
first year in Minnesota. Our continued partnership with the MSBA and our
commitment to green technology and playground compliance position us well
for future growth in Minnesota."
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
our 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 June 30, 2008. The
Company disclaims any intent or obligation to update these
"forward-looking" statements.