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GreenMan Technologies Enters Into Major Recycling Agreement with NorAm Energy Corp.

LYNNFIELD, Mass., Nov. 22 /PRNewswire/ -- GreenMan Technologies, Inc. (Nasdaq: GMTI; BSE: GMY) announced today that it has signed a Memorandum of Understanding with NorAm Energy Corp. (NYSE: NAE) of Houston, Texas for the "closed-loop" recycling of NorAm's plastic waste into high-value end-products for NorAm's end-use. NorAm Energy Corp. is the nation's third-largest natural gas distribution company, serving nearly 3 million customers through its Arkla, Entex and Minnegasco distribution divisions. It is also a major natural gas supply, gathering, storage and transportation company, as well as a wholesale and retail energy marketer and energy service provider. The Memorandum of Understanding is anticipated to lead to specific product/market agreements over the next several months.

A pilot program is currently being launched with NorAm's Arkla division in Little Rock, Arkansas. The pilot involves GreenMan's recycling of large quantities of Arkla's plastic waste (including scrap pipes and fittings consisting of UHMW and MWHDPE plastics) into high quality end products. The end products will be manufactured to NorAm/Arkla's specifications and sold to NorAm/Arkla at significant net savings over similar products from traditional markets. The plastic waste, to be supplied initially by Arkla to GreenMan, will be recycled into the Company's new raw material (GEM-Stock(TM)) using a proprietary additive technology, and will then be used to manufacture new products for NorAm/Arkla's use.

Jim Barker, GreenMan's President stated: "We are proud and excited to have this strategically important opportunity to provide a complete 'closed-loop' recycling program for NorAm and its subsidiaries. The successful launch of the Arkla pilot program will pave the way for expansion to other NorAm subsidiary utility companies, and will create a significant business model which can be followed by others in the utilities industry. We think NorAm's commitment to helping clean our environment deserves high praise and we congratulate them on their efforts to recycle their waste."

Gary Petersen, a member of NorAm's senior management team, stated: "GreenMan's closed-loop program represents a solid solution to our plastic waste issue. Not only have we found a useful way to dispose of our waste, but also we will realize substantial cost savings on the end-products being made from the waste. This program represents a true 'win-win' approach."

GreenMan Technologies, Inc. manufactures and markets "environmentally friendly" rubber and plastic-based products incorporating recycled plastic and rubber materials for sale to industrial and retail end-users. Through its DuraWear subsidiary, the Company manufactures and markets wear-resistant ceramic, polymer composite and alloy steel products for bulk material handling systems.

SOURCE GreenMan Technologies, Inc.
 -0- 11/22/96

/CONTACT: Joseph Levangie or Cynthia Barker of GreenMan, 617-224-2411/

/GreenMan press releases available through Company News On Call by fax, 800-758-5804, ext. 111899, or at


CO: GreenMan Technologies, Inc.; NorAm Energy Corp. ST: Massachusetts, Texas IN: ENV OIL SU:

SB-LZ -- NEF011 -- 5869 11/22/96 13:08 EST
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Publication:PR Newswire
Date:Nov 22, 1996
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