February 8th, 2012
Posted on 09. Aug, 2010 by PublicWire in Energy
(GMTI.OB) GreenMan Technologies Receives Order From Mutual Redevelopment Houses, Inc.
(PublicWire.com News Release) GreenMan Technologies, Inc. (OTCBB: GMTI), announced that its American Power Group, Inc. subsidiary (”APG”) has received an order from Mutual Redevelopment Houses, Inc. (”MRH”) for the conversion of approximately 33% of the stationary diesel engines used by their Penn South cooperative housing facility located in New York City. The initial order is valued at approximately $264,000 and is expected to be completed by the end of November 2010. MRH has verbally indicated that upon the successful completion of this initial order they intend to place an order to convert Penn South’s remaining stationary diesel engines over a six to nine month period. The estimated value of this potential follow-on order is approximately $300,000.
MRH’s Penn South facility is an environmentally progressive, limited-equity cooperative comprised of approximately 2,800 apartment units. In 1986, Penn South converted their power plant, which provides electricity, heating and cooling for the entire facility, to a self-contained co-generation system. The ability to displace up to 50% of the facility’s diesel requirements with piped-in, lower cost natural gas will not only enhance Penn South’s ongoing “green” initiatives but will significantly reduce the cooperative’s operating costs.
APG’s dual fuel system converts existing diesel engines to function more efficiently and at a lower operating cost (fuel costs reduced by 25% to 35%) by seamlessly displacing 40% to 60% of the normal diesel fuel consumption with compressed natural gas (”CNG”) or biomethane. In addition, the dual fuel conversion system reduces toxic emissions such as nitrogen oxide (NOX), carbon monoxide (CO) and fine particulate matter as well as enhancing the engine’s operating life, since natural gas is a cleaner burning fuel source.
Lyle Jensen, GreenMan’s President and Chief Executive Officer, stated, “We are very pleased to have received this significant order from MRH. Penn South is a large housing facility in a major city, and their selection of APG’s dual fuel solution is a validation of our conversion technology that we expect will open more doors to stationary projects and applications in major metropolitan areas. Likewise, APG’s work on projects such as Penn South positions the Company well for future opportunities as public entities such as housing facilities, schools and government buildings seek ways to reduce their fuel costs while at the same time reducing their environmental impact through the use of cleaner fuel sources.”
(GMTI.OB)GreenMan Technologies Receives Order From Mutual Redevelopment Houses, Inc.
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