GreenMan Subsidiary Receives EPA Approval for Fifty-Five Caterpillar and Detroit Diesel OUL Vehicular Engine Family Applications
LYNNFIELD, MA--(Marketwire - May 7, 2012) - GreenMan Technologies, Inc. (
|C-16||(2002-1998)||Series 60 12.7L||(2006-2004)|
|C-15||(2003-1998)||Series 60 14.0L||(2009-2004)|
The submission utilized APG's latest V5000 Dual Fuel Turbocharged Natural Gas™ technology which is required to meet specific design, componentry, and emission compliance criteria per the EPA Final Rule 40CFR Parts 85 and 86.
Lyle Jensen, GreenMan's President and Chief Executive Officer stated, "Today's announcement is a testament to our APG team and the extraordinary effort they have shown over the past several quarters as we worked to complete last week's $8.2 million capital raise. These approvals include some of the most popular higher mileage CAT and Detroit Diesel engine models on the road today and represent 10 of the top 40 OUL engine families we had identified to pursue in the coming months. We can now begin working with our certified installers, who have cumulatively identified a significant number of customers that have expressed an interest in learning more about the benefits of our dual fuel natural gas system."
Mr. Jensen added, "As we move forward with our requests for additional targeted OUL engine family approvals we also intend to accelerate our plans to begin emissions testing for Intermediate Age ("IUL") engine models over the coming months. While the IUL market represents a larger portion of what we see to be a multi-billion U.S. market for diesel conversions, today's approvals provide us with a good start towards achieving our initial installation goals."
About GreenMan Technologies
GreenMan's alternative energy subsidiary, American Power Group, Inc., provides a cost-effective patented Turbocharged Natural Gas™ conversion technology for aftermarket vehicular and stationary 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 ("CNG"); (2) diesel fuel and liquefied natural gas ("LNG"); (3) diesel fuel and pipeline or 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 up to 80% of the normal diesel fuel consumption with the average displacement ranging from 40% to 65%. The energized fuel balance is maintained with a proprietary read-only electronic controller system ensuring the engines operate at original equipment manufacturers' specified temperatures and pressures. Installation on a wide variety of engine models and end-market applications require no engine modifications unlike the more expensive invasive fuel-injected systems in the market. See additional information at: www.greenman.biz and www.americanpowergroupinc.com.
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With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements and opinions, including, but not limited to, statements relating to new markets, development and introduction of new products, and financial and operating projections. These forward-looking statements and opinions are neither promises nor guarantees, but involve risk and uncertainties that may individually or mutually impact the matters herein, and cause actual results, events and performance to differ materially from such forward-looking statements and opinions. These risk factors include, but are not limited to, results of future operations, difficulties or delays in developing or introducing new products and keeping them on the market, the results of future research, lack of product demand and market acceptance for current and future products, adverse events, product changes, the effect of economic conditions, the impact of competitive products and pricing, governmental regulations with respect to emissions, including whether EPA approval will be obtained for future products and additional applications, the results of litigation, factors affecting the Company's future income and resulting ability to utilize its NOLs, and/or other factors, which are detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended September 30, 2011 and the Company's quarterly reports on Form 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements and opinions, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements and opinions that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
GreenMan Technologies, Inc.
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