Here is the cool stuff
American Power Group
APG's dual fuel system converts diesel engines and diesel generators to function more efficiently and at a lower operating cost (net fuel cost savings of 25% - 35%) by seamlessly displacing 40%-70% of the normal diesel fuel consumption with CNG, LNG, 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.
This is the initiative to move to a more green lifestyle. I am an Earth Scientist and very passionate in starting my personal crusade to lower my carbon footprint and spread the word about green energy. Everything about wind, water, and solar will be discussed and explored. I will not stop until I have scavenged my bliss
Search for anything
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Showing posts with label Dual Fuel. Show all posts
Showing posts with label Dual Fuel. Show all posts
Tuesday, January 14, 2014
Interesting things to know about the APG dual fuel system
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Thursday, December 12, 2013
American Power Group - The Dual Fuel Engine that Could
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| APGI - American Power Group INC |
American Power Group (OTCQB:APGI) presents a long investment opportunity whose entry point for the wise long is now. The APG story is compelling. What makes it more compelling is the story's setting… the current flash point of growth in the use and availability of natural gas. I outline all of this in great detail in my Seeking Alpha Instablog post on APGI.
Yet, a micro-cap having a story doesn't mean they have the means to bring that story to fruition, or that they will avoid doing so on the weary, diluted backs of early investors. APGI stands at the turning point of cash-positivity, even pending profitability, and uniquely has the resources and business plan to be the micro-cap story that succeeds.
How is this so?
APGI has already completed a vast majority of the costly "heavy lifting" needed for a successful rollout of its superior and perfectly-timed diesel/natural gas conversion units. This includes spending the millions of dollars needed to have accomplished all of:
- The testing and applications to receive an industry-insurmountable number of OUL engine family approvals from the EPA (~450). The Company is working to become the first retrofit technology to obtain IUL approval and estimates the cost to complete the top four engine families to be around $500K.
- Full patent protection of their technologies and methods
- Establishing the crucial partnership with The Wheeltime Network and the costs related to technician and authorized dealer training
- Establishing manufacturing capabilities
- Hiring appropriate support and sales staff at the company level
- Proactively facilitating the solidification of the share base into a solid, company-friendly group of major holders and retail investors
- The costs of many years and millions of breakdown-free miles on their dual fuel vehicular evaluation units and stationary use evaluation units (e.g. fracking rigs)
- Establishing major partnerships with leading companies in the natural gas realm, such as Blu and Evol
As such, the company's capital expenditure budget for the coming year and beyond will see a dramatic decrease. For APGI to gain EPA approval for the one remaining OUL engine family, and the four IUL engine families they seek for their business plan, the total remaining outlay will be a only about $500,000.
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Friday, June 14, 2013
A moment on reliable energy from American Power Group
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| American Power Group |
About 1,200 people live and work at the campus.
The facility has three 725 kw engines for on-site generation, giving it added security and the ability to “peak shave.” When power rates are at their peak, the facility shaves its bill by generating its own electricity.
Two of the generators run on 100 percent natural gas. The third, a diesel generator, was converted to APG’s Dual fuel. Converting to Dual fuel is cheaper than converting to 100 percent natural gas, since it does not alter the way the engine works. And Dual fuel allows the engine to use 100 percent diesel if natural gas supplies are interrupted.
“In case of emergency, we have the flexibility of using diesel to keep our emergency systems running,” says Juan Mata, plant manager of the Watchtower complex. “Dual fuel allows us to perform without interruption. We have both flexibility and security.
This may not be the absolute solution but we have an abundance of natural gas in America.
| Stock symbol APGI |
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Friday, May 10, 2013
American Power Group receives follow up order worth 500,000 from Oil and Gas drilling companies
More god news for American Power group (APGI).
The orders are for the upgrade and conversion of additional diesel generators on drilling rigs for operation using APG's Turbocharged Natural Gas(TM) Dual Fuel System. SourceOne Engine Equipment, LLC, our domestic Dealer/Certified Installer booked the orders. While the end customers were not disclosed for proprietary reasons, a recent industry survey ranked these three companies among the top 50 oil and gas exploration and drilling companies in the United States.
Lyle Jensen, CEO of American Power Group stated, "Currently more than 20 of the top oil and gas exploration companies in the United States are running APG's Turbocharged Natural Gas(TM) Dual Fuel System on their drilling rigs with over 75% of those running multiple dual fuel powered drilling rigs. During April, we invoiced a record $1 million in oil and gas related revenue based on previously announced and new orders." Mr. Jensen added, "At a time when global diesel prices continue to escalate, the ability for oil rig operators to use our dual fuel technology with either inexpensive well-head gas or plentiful domestic natural gas as a supplemental fuel provides a significant competitive advantage over operators running on 100% diesel fuel."
Information gathered from Etrade - APGI NEWS
Thursday, March 21, 2013
American Power Group Partners with Fitzgerald Glider Kits to debut first natural gas duel fuel glider at truck show
More interesting news for American Power Group...as you can read form the title of the post they will be debuting their dual fuel engine with Fitzgerald gliders. This is very exciting news for the little company based out of Algona Iowa. These gliders are pretty much just the shell of the car, Fitzgerald and Wheeltime Network get together and refurbishe these gliders. This is a win win situation for everyone....buying the shell of the truck is much more cost effective and there is no need for any sort of special conversion necessary. Natural gas is a step towards the future.More from Etrade - APGI
Lyle Jensen, American Power Group Corporation's President and Chief Executive Officer, stated, "We expect the 2013 Fitzgerald/APG Dual Fuel Glider to become one of most innovative and exciting new Class 8 vehicles on the road with 20%-30% lower net fuel costs as compared to standard diesel engines and up to 70% lower annual maintenance costs." Mr. Jensen added, "The introduction of a Dual Fuel Glider, coupled with the resources provided by a Fitzgerald/WheelTime Network/APG collaboration, could be the game-changer that accelerates the transition of Class 8 truck fleets to natural gas as an alternative fuel."
Friday, March 8, 2013
APGI is approved for more engines
American Power Group Corporation (OTCQB: APGI), announced today that its subsidiary, American Power Group, Inc. ("APG"), has received online notification from the U.S. Environmental Protection Agency ("EPA") that its recent Clean Alternative Fuel Vehicle and Engine Conversion Submission for an additional 22 engine families has been approved for the following additional Outside Useful Life ("OUL") engines:
-- Cummins ISX (2009 - 2007)
-- Cummins ISM (2009 - 2007)
-- Caterpillar C-15 (1997 - 1996)
-- Caterpillar C-16 (1997)
The submission utilized APG's latest V5000 Dual Fuel Turbocharged Natural Gas(TM) 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, American Power Group Corporation's President and Chief Executive Officer, stated, "This round of approvals mark the completion of the Class 8 EPA OUL testing for the most popular Cummins and Detroit Diesel engine families for model years 2009 to 2002 and the most popular Caterpillar engine families from 2006 to 1996. Caterpillar exited the vehicular engine market after 2006. The EPA OUL testing for the Volvo and Mack engine families has begun and we anticipate testing and approvals to be completed within the next 60 to 90 days. Following that, we will wrap up our EPA OUL testing with selected engine models older than model year 2002 for the re-manufactured engine conversion market and the International DT 466/MaxxForce engine series. Since May 2012, we have received approval on over one hundred EPA OUL engine families and anticipate having over two hundred OUL engine families approved when we complete this phase of testing later this spring which would open up an estimated domestic multi-billion dollar OUL addressable market of 500,000 vehicles."
Thank you Etrade
More on this article can be found here
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Thursday, October 18, 2012
American Power Group Reports Over $500,000 of New Orders
Go APGI Go
American Power Group Corporation (OTCQB: APGI) announced today that its subsidiary, American Power Group, Inc. ("APG") has received orders for vehicular dual fuel conversions valued at more than $500,000. These orders were received from several certified dealers and customers who intend to install APG's dual fuel system on forty-two heavy-duty trucks. The certified dealers intend to distribute these dual fuel trucks to more than thirty prospective customers so that they may evaluate the costs savings and benefits of APG's V5000 Dual Fuel Turbocharged Natural Gas(TM) System. Eighteen of these systems were shipped in September with the balance scheduled to be delivered within the next sixty to ninety days.
Lyle Jensen, American Power Group Corporation's President and Chief Executive Officer, stated, "With the eighty-eight EPA Over Useful Life ('OUL') engine family approvals received since May 1, 2012, we are entering the next phase of our production roll-out. The forty-two trucks in this most recent order will be evaluated by fleet owners who operate fleets ranging from hundreds to thousands of trucks. Because the units ordered encompass both CNG and LNG configurations, we are looking forward to receiving important feedback from fleet operators who return to a home base daily as well as long haul routes."
Mr. Jensen further commented, "We are working to complete all remaining EPA OUL emission testing in the next few months, to bring our total to approximately two hundred OUL engine families, representing a multi-million dollar market opportunity. Concurrently, we have begun our Intermediate Age (IUL) testing at the University of Houston Diesel Test Center and anticipate completing our first IUL test within the next 60 days. We believe APG's aftermarket dual fuel technology is the key stepping stone for thousands of fleet owners to gain the economic benefits of the price spread between diesel fuel and natural gas while also enjoying the flexibility and comfort level of diesel-like performance."
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Monday, June 25, 2012
GMTI (Greenman) announces favorable emissions tests
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.
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Tuesday, April 10, 2012
American Power Group 10% increase
LYNNFIELD, MA--(Marketwire -02/15/12)- GreenMan Technologies, Inc. (OTCQB: GMTI.PK - News) (Pinksheets: GMTI.PK - News),
today announced results for the three months ended December 31, 2011.
Revenues at the company's American Power Group (APG) dual fuel
subsidiary increased to $396,000 from $360,000 for the same quarter last
year.
Lyle Jensen, GreenMan's President and Chief Executive
Officer commented, "Overall, this was a solid quarter for our Company,
in which we continued to drive revenue growth both compared to last year
and sequentially. As our dual fuel technology gains acceptance
domestically and internationally, we are making steady progress toward
profitability and positive earnings performance. On the stationary
front, the use of our technology in aftermarket upgrade applications in
the oil and gas industry has demonstrated successful field performance
and also provides a favorable economic model which has driven demand for
our solution, creating a robust conversion pipeline. In the domestic
vehicular market, we believe that the recent changes in EPA aftermarket
regulations leave us uniquely positioned to capitalize on conversion
opportunities and we currently have three engine families under EPA
exemption that are scheduled to go through emissions testing shortly. We
anticipate fully launching our vehicular conversion strategy during
spring 2012." 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 20% - 35%) by seamlessly displacing up to 40% - 60% of the normal diesel fuel consumption with either CNG, LNG, pipeline gas, well-head gas, or other qualified bio-methane gases. 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 torque and will assist in extending the engine's oil life as natural gas is a cleaner burning fuel compared to diesel.
Monday, April 9, 2012
GMTI - American Power Group 151% increase
| Check out their Website |
LYNNFIELD, MA--(Marketwire -01/17/12)- GreenMan Technologies, Inc. (OTCQB: GMTI.PK - News) (Pinksheets: GMTI.PK - News)
today announced results for the three and twelve months ended September
30, 2011. Revenues at the company's American Power Group (APG) dual
fuel subsidiary increased to $347,000 from $138,000 for the same quarter
last year and increased to $1,768,000 from $333,000 for the prior
fiscal year.
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 20% - 35%) by seamlessly
displacing up to 40%-60% of the normal diesel fuel consumption with
either CNG, LNG, pipeline gas, well-head gas, or other qualified
bio-methane gases. 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 torque and will assist in extending the engine's oil life as natural
gas is a cleaner burning fuel compared to diesel.
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Tuesday, June 14, 2011
Greenman makes an effort to focus on dual fuel
Reported today June 14 from the Greenman newsThe board of directors has deemed it beneficial to sell off the smaller rubber recycling companies owned by Greenman. There will be a vote with the shareholders of course, but the board assures us that it is in our best interest to focus more specifically on the dual fuel technology.
This is good news for the most part. Greenman will be able to start making a positive profit in the next few quarters, and hopefully that will push the stock price higher!
Tuesday, April 5, 2011
EPA Amends Alternative Fuel Conversion Regulations!! This is good news
American Power Group gets the go ahead to sell their dual fuel engine!
GreenMan Technologies, Inc. (OTCQB: GMTI) announced that the U.S. Environmental Protection Agency ("EPA") has amended its alternative fuel conversion regulations for light, medium and heavy-duty vehicles, thereby providing the Company's American Power Group subsidiary ("APG") with a clear path to begin selling its dual fuel vehicular system in the United States during 2011.
Excerpts from the EPA Policy Overview state, "Previous EPA regulations required vehicle and engine conversion systems to be converted by a certificate of conformity to gain regulatory exemption from potential tampering charges. EPA evaluated the requirement and determined that it is appropriate to introduce new flexibilities for all clean alternative fuel converters and expand compliance options for certain categories of conversions. The new approach builds upon the concept that it is appropriate to treat conversions differently based on the age of the vehicle or engine being converted. Under new regulation, testing and compliance procedures differ based on the age category of the vehicle or engine that is being converted: 1) new or relatively new; 2) intermediate age, or 3) outside useful life. All conversion manufacturers seeking exemption must demonstrate compliance, but the requirements differ among age categories. The new options will reduce some economical and procedural impediments to clean alternative fuel conversions while maintaining environmental safeguards to ensure that acceptable emission levels from converted vehicles and engines are being sustained. EPA expects the streamlined approach to result in cost savings for many converters."
Power Systems Research, a global supplier of business information to the engine, power products and components industries, estimates that approximately 4.6 million medium and heavy duty diesel vehicles, representing approximately 93% of all medium to heavy duty vehicles on the road today fit into either the "intermediate age" or "outside useful life" classifications.
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 seamlessly 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, "During this past year, we have conducted successful vehicular test trial installations in Australia, India, Pakistan, and Africa. We now have the ability to prove here in the United States the positive economic and environmental impact that our dual fuel system can have on aftermarket diesel vehicles operating on U.S. highways. With APG's primary focus on aftermarket conversions of vehicular and stationary diesel engines, we believe that these new regulations will have a profound impact on our ability to commercialize fully our V-3000 vehicular dual fuel system in the United States."
About GreenMan Technologies
GreenMan's alternative energy subsidiary, American Power Group, Inc. ("APG") provides a cost-effective patented dual fuel conversion technology for diesel engines and diesel generators. APG'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 liquid natural gas ("LNG"); 3) diesel fuel and well-head gas; and 4) diesel fuel and bio-methane; and 3) only diesel fuel, with the flexibility to return to 100% diesel fuel operation depending on the circumstances. The proprietary technology seamlessly displaces 40% to 70% of the normal diesel fuel consumption and the energized fuel balance is maintained with a proprietary controller system ensuring the engines operate to Original Equipment Manufacturers' ("OEM") specified temperatures and pressures. Installation on a wide variety of engine models and end-market applications requires no engine modification unlike the more expensive high-pressure alternative fuel systems in the market See additional information at: www.greenman.biz. and www.americanpowergroupinc.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 risks and uncertainties that may individually or collectively impact the matters herein described, including but not limited to the fact that we have sold the tire recycling operations which have historically generated substantially all our revenue and that we will be prohibited from competing in that business on a regional basis until 2013; 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.
GreenMan Technologies, Inc. (OTCQB: GMTI) announced that the U.S. Environmental Protection Agency ("EPA") has amended its alternative fuel conversion regulations for light, medium and heavy-duty vehicles, thereby providing the Company's American Power Group subsidiary ("APG") with a clear path to begin selling its dual fuel vehicular system in the United States during 2011.
Excerpts from the EPA Policy Overview state, "Previous EPA regulations required vehicle and engine conversion systems to be converted by a certificate of conformity to gain regulatory exemption from potential tampering charges. EPA evaluated the requirement and determined that it is appropriate to introduce new flexibilities for all clean alternative fuel converters and expand compliance options for certain categories of conversions. The new approach builds upon the concept that it is appropriate to treat conversions differently based on the age of the vehicle or engine being converted. Under new regulation, testing and compliance procedures differ based on the age category of the vehicle or engine that is being converted: 1) new or relatively new; 2) intermediate age, or 3) outside useful life. All conversion manufacturers seeking exemption must demonstrate compliance, but the requirements differ among age categories. The new options will reduce some economical and procedural impediments to clean alternative fuel conversions while maintaining environmental safeguards to ensure that acceptable emission levels from converted vehicles and engines are being sustained. EPA expects the streamlined approach to result in cost savings for many converters."
Power Systems Research, a global supplier of business information to the engine, power products and components industries, estimates that approximately 4.6 million medium and heavy duty diesel vehicles, representing approximately 93% of all medium to heavy duty vehicles on the road today fit into either the "intermediate age" or "outside useful life" classifications.
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 seamlessly 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, "During this past year, we have conducted successful vehicular test trial installations in Australia, India, Pakistan, and Africa. We now have the ability to prove here in the United States the positive economic and environmental impact that our dual fuel system can have on aftermarket diesel vehicles operating on U.S. highways. With APG's primary focus on aftermarket conversions of vehicular and stationary diesel engines, we believe that these new regulations will have a profound impact on our ability to commercialize fully our V-3000 vehicular dual fuel system in the United States."
About GreenMan Technologies
GreenMan's alternative energy subsidiary, American Power Group, Inc. ("APG") provides a cost-effective patented dual fuel conversion technology for diesel engines and diesel generators. APG'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 liquid natural gas ("LNG"); 3) diesel fuel and well-head gas; and 4) diesel fuel and bio-methane; and 3) only diesel fuel, with the flexibility to return to 100% diesel fuel operation depending on the circumstances. The proprietary technology seamlessly displaces 40% to 70% of the normal diesel fuel consumption and the energized fuel balance is maintained with a proprietary controller system ensuring the engines operate to Original Equipment Manufacturers' ("OEM") specified temperatures and pressures. Installation on a wide variety of engine models and end-market applications requires no engine modification unlike the more expensive high-pressure alternative fuel systems in the market See additional information at: www.greenman.biz. and www.americanpowergroupinc.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 risks and uncertainties that may individually or collectively impact the matters herein described, including but not limited to the fact that we have sold the tire recycling operations which have historically generated substantially all our revenue and that we will be prohibited from competing in that business on a regional basis until 2013; 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.
View dataContacts: Chuck Coppa CFO or Lyle Jensen CEO GreenMan Technologies, Inc. 781-224-2411 Investor Relations Contacts: John Nesbett or Jennifer Belodeau Institutional Marketing Services (IMS) 203-972-9200
SOURCE: GreenMan Technologies, Inc.
Contacts: Chuck Coppa CFO or Lyle Jensen CEO GreenMan Technologies, Inc. 781-224-2411 Investor Relations Contacts: John Nesbett or Jennifer Belodeau Institutional Marketing Services (IMS) 203-972-9200
Tuesday, March 15, 2011
GreenMan Technologies Reports First Quarter Fiscal 2011 Results -- American Power Group to Thank
And get this...the best part of Greenman is a little company called APG... American Power Group.
They have successfully designed a dual fuel engine that can run on mostly natural gas and a little diesel.
Three Months ended December 31, 2010 Compared to the Three Months ended December 31, 2009
Net sales from continuing operations for the three months ended December 31, 2010 increased $352,000 or 80 percent to $792,000 as compared to net sales of $440,000 for the three months ended December 31, 2009. The increase is primarily attributable to increased revenue associated with our dual fuel subsidiary "APG" (American Power Group) during the three months ended December 31, 2010 and a $57,000 increase in our molded products subsidiary.
During the three months ended December 31, 2010, we incurred a negative gross profit of $22,000 as compared to a negative gross profit of $254,000 for the three months ended December 31, 2009. The reduction in the negative gross profit was primarily attributable to a $295,000 increase in dual fuel related revenue as compared to only $65,000 of revenue during the three months ended December 31, 2009. Due to lower playground tile production during the three months ended December 31, 2010 we were unable to fully absorb all manufacturing overhead costs, which contributed to the negative gross profit during the quarter.
They have successfully designed a dual fuel engine that can run on mostly natural gas and a little diesel.
Three Months ended December 31, 2010 Compared to the Three Months ended December 31, 2009
Net sales from continuing operations for the three months ended December 31, 2010 increased $352,000 or 80 percent to $792,000 as compared to net sales of $440,000 for the three months ended December 31, 2009. The increase is primarily attributable to increased revenue associated with our dual fuel subsidiary "APG" (American Power Group) during the three months ended December 31, 2010 and a $57,000 increase in our molded products subsidiary.
During the three months ended December 31, 2010, we incurred a negative gross profit of $22,000 as compared to a negative gross profit of $254,000 for the three months ended December 31, 2009. The reduction in the negative gross profit was primarily attributable to a $295,000 increase in dual fuel related revenue as compared to only $65,000 of revenue during the three months ended December 31, 2009. Due to lower playground tile production during the three months ended December 31, 2010 we were unable to fully absorb all manufacturing overhead costs, which contributed to the negative gross profit during the quarter.
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