GMTI, Just caught my eye today. Looks like this company has massive potental to explode. Charts look great and a little attention in this one and it could explode. Looks like it is starting to move. We could see a run here after lunch. This one had news this morning check it out!!
Establishes Presence in World's Leading Market for Compressed Natural Gas Vehicles; Test Vehicles Already on the Road
CARLISLE, IA, Aug 03, 2010 (MARKETWIRE via COMTEX) -- GreenMan Technologies, Inc. (OTCBB: GMTI), announced its APG International, Inc. subsidiary ("APGI"), has entered a distributor agreement with a private company, Engineering Kinetics Limited ("EKL"), to sell and install its diesel dual fuel technology within Pakistan. The European Natural Gas Vehicle Association reports that Pakistan is the number one natural gas vehicular country in the world with over 2 million natural gas vehicles in operation. Pakistan is also reported to be the world leader in natural gas infrastructure, with 3,000 compressed natural gas ("CNG") fueling stations in operation and another 1,000 CNG fueling stations under construction.
To support the in-country product launch, APGI has upgraded three diesel test vehicles including a light-duty Shizore delivery truck, a mid-size Nissan delivery truck, and a heavy-duty turbo-charged Chinese FAW which is equivalent to a Class 8 tractor in the United States. We believe our ability to convert this diverse representation of test vehicles demonstrates the potential for the worldwide acceptance of our dual fuel conversion technology. Additionally, in the near future, APGI intends to upgrade a bus to address the fuel savings and emissions reduction that can be realized for the large number of transit busses operating within the country.
Lyle Jensen, CEO of GreenMan, commented, "We look forward to working with the EKL Team which includes several technicians who have supported our historical stationary dual fuel installations. Despite Pakistan's leadership position in CNG vehicles and infrastructure, no one has introduced a reliable, safe, and economical CNG technology to effectively address the performance demands of medium and heavy-duty diesel trucks. Our marketing research for the country shows that out of the hundreds of thousands of eligible commercial diesel vehicles currently in use, only a few hundred have been converted to CNG. We expect favorable performance and acceptance of our CNG test vehicles and anticipate generating initial revenue later this calendar year."
EKL was formed in 1982 to provide comprehensive design, engineering, fabrication, and construction services to a variety of industries. For more information on EKL, go to www.eklonline.com.
About GreenMan Technologies GreenMan Technologies, through its subsidiaries, provides technological processes and unique marketing programs for alternative energy, renewable fuels and innovative recycled products. The Company's alternative energy subsidiary, American Power Group, Inc. (APG) provides a cost-effective patented dual fuel technology for diesel engines. APG's dual fuel alternative energy system is a unique external fuel delivery 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 bio-methane, or 3) 100% diesel fuel depending on the circumstances. The proprietary technology seamlessly displaces up to 70% of the normal diesel fuel consumption with CNG or bio-methane and the energized fuel balance between the two fuels is maintained with a patented control system ensuring the engines operate to Original Equipment Manufacturers' ("OEM") specified temperatures and pressures with no loss of horsepower. Installation requires no engine modification unlike the more expensive high-pressure alternative fuel systems in the market. Our Green Tech Products, Inc. subsidiary develops and markets branded products and services that provide schools and other political subdivisions viable solutions for safety, compliance, and accessibility including recycled surfacing. See additional information at: www.americanpowergroupinc.com and www.playgroundcompliance.comPosts: 221 | Registered: Sep 2009
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