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Monday, June 25, 2012

GMTI (Greenman) announces favorable emissions tests

GreenMan Technologies, Inc. (GMTI) announced that its American Power Group, Inc. (APG) subsidiary has recently met the emissions testing requirements necessary to begin selling our dual fuel conversion system for selected high-horsepower non-road compression ignition (NCRI) engine families, which are primarily used in multi-stage fracturing of shale gas and shale oil recovery.

Lyle Jensen, GreenMan's CEO, stated, "During the past fifteen months, we have gone from two initial installations in the oil and gas industry to over forty-five retrofits to-date. These successes have positioned APG as a market leader in retrofitting the most popular lower horsepower 1475 HP engines traditionally used by the major oil and gas exploration companies. As a result of this success and compelling economic returns, we have been approached by many of the top oil and gas exploration companies regarding our ability to retrofit the high horsepower engines. Today's announcement is an important milestone in our ongoing effort to increase revenue and our exposure to the oil and gas exploration industry. We now have a clear legal path to begin accepting pre-production test orders from customers on the newer diesel pump engines (IUL) being deployed."
Mr. Jensen added, "While a traditional oil and gas drilling site operates three diesel engines, a typical hydraulic fracturing site is comprised of up to twenty high horsepower diesel pumps like the one described above. Our initial target market is the estimated 2,000 new high horsepower diesel pumps being deployed by the hydraulic fracturing industry annually in the United States."

 Their stock is open to public trade...if you are interested in supporting a dual fuel engine built right here in Iowa then look into GMTI.

GMTI supports APG (American Power Group) more and more every passing year. This company is located here in the Midwest. In fact its main facility is in Algona, Iowa. That is one of those good old towns where everybody knows everybody. It is good to know the money for this Dual Fuel system is not going to be going over seas or even to another state....its all staying right here in the Midwest to help support our economy.