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Small-Cap Company Announces Substantial Int’l Order, Shares Break 52 Week High
By: AllPennyStocks.com News
July 8, 2010
To get the economy going again, it’s important that goods be moved from one place to another. The hitch is that the fuel that powers this transportation reduces our carbon footprint rather than increasing it. Companies that master this technology may find themselves with a distinct advantage over the competition, and thus, may win the derby for investment dollars.
So it was in the first week of July that Iowa-based GreenMan Technologies, Inc. (OTCBB:GMTI) announced that its APG International, Inc. subsidiary ("APGI") received an order from its local distributor on behalf of Nigeria-based soft-drink distributor Seven-Up Bottling Company PLC, for the conversion of approximately 25% of their local delivery truck fleet.
The initial order is valued at approximately $440,000 and is expected to be completed by the end of September. Seven-Up Bottling has verbally indicated that upon the successful completion of this initial order they intend to place an order to convert their remaining local delivery truck fleet over a six to nine month period. The estimated value of this potential follow-on order is approximately $1.22 million.
What’s remarkable is that APGI's dual fuel system converts existing 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 duel fuel conversion system reduces toxic emissions such as nitrogen oxide, carbon monoxide and fine particulate matter as well as enhancing the engine's operating life, since natural gas is a cleaner burning fuel source.
GMTI, through its subsidiaries, provides technological processes and unique marketing programs for alternative energy, renewable fuels and innovative recycled products. The APG subsidiary provides a cost-effective dual fuel technology for diesel engines. The Company's Green Tech Products subsidiary develops and markets branded products and services that provide schools and other political subdivisions viable solutions for safety, compliance and accessibility.
The news of the Seven-Up contract woke investors from their summer slumber, and caused a significant rise in shares to change hands on July 8, driving the price to a new 52-week intraday high of 69 cents at time of writing, up nine cents or 15%, from the day before. The 52-week low is 20 cents, to which the price sank on June 4. Simply put, this green technology company is on the move, and causing its customers, and the small cap market, to do the same.
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