GreenMan Technologies Awarded Iowa Contract

GreenMan Technologies, Inc. announced that the Iowa Department of Natural Resources has awarded GreenMan's Iowa subsidiary the contract to clean up about 700,000 scrap tires located at the Bee Rite Tire Disposal site in Rhodes, Iowa, one of Iowa's largest remaining scrap tire sites.

Jeff Geerts, program planner for the Iowa Department of Natural Resources said, "Since, 1998 the State of Iowa has cleaned up more than 10 million scrap tires from more than 100 illegal sites with GreenMan participating in a majority of these scrap tire cleanups over the past several years."

Mark Maust, GreenMan's Midwest regional vice president said, "We have enjoyed a great working relationship with the Iowa Department of Natural Resources over the past several years and are extremely pleased to have been selected to participate in the Bee Rite cleanup."

Maust added, "This contract comes on the heels of our recently completed $300,000 shredding and screening capacity upgrade to our Iowa processing facility. The cleanup commenced in December and we expect it to be completed in April 2005. We estimate this cleanup project will generate over $650,000 of new accretive revenue during our seasonally slowest time of the year. The tires will be recycled into alternative fuel and value-added material for Iowa industries."