GreenMan Technologies, Inc.: GreenMan Technologies Appoints New Board Member

LYNNFIELD, MA--(Marketwire - June 29, 2009) - GreenMan Technologies, Inc. (OTCBB: [ GMTI ]), announced that Kevin M. Tierney, Sr. will join the Company's board of directors, effective July 1, 2009. Mr. Tierney has also been appointed Chairman of the Audit Committee.

Maury Needham, GreenMan's Chairman of the Board of Directors stated, "We are very pleased that Kevin has agreed to join our Board and undertake the role of Audit Chairman. Kevin has a distinguished background in the financial and banking industries and we are confident that his knowledge and expertise will contribute significantly to our Company. His leadership roles at publicly traded companies, previous experience with the assimilation of acquired companies and his work with regulatory agencies and legislative bodies make him a valuable resource for GreenMan as we execute a new strategy and move forward within new industries."

Since 2006, Mr. Tierney has served as the President and Chief Executive Officer of Saugusbank, a $200 million, state chartered community bank located in Saugus, Massachusetts. In this role, Mr. Tierney works directly with regulatory agencies and industry associations on supervisory, oversight and legislative matters. Prior to joining Saugusbank, he was executive vice president and general manager of BISYS Group's Corporate Financial Solutions Division, where he led the creation of a new business unit providing corporate banking services to Fortune 500 treasury departments as well as to the life insurance and health insurance industries. Before that, Mr. Tierney was executive vice president and chief operating officer of Abington Bancorp, a $1.2 billion, publicly traded bank holding company. At Abington, Mr. Tierney oversaw the acquisition of several banking franchises that expanded business lines and grew the company's footprint which, combined with organic growth, enabled the company to grow from a $400 million to a $1.2 billion company. Earlier in his career, he served as executive vice president and general manager of Electronic Data Systems (EDS) where he oversaw 450 employees and was responsible for all aspects of $160 million in business providing emerging payment technologies to the retail and financial industries.

About GreenMan Technologies

GreenMan Technologies, through its subsidiaries, provides technological processes and unique marketing programs for renewable fuel, alternative energy, recycled feedstock, and innovative recycled products. Through the company's Green Tech Products subsidiary, the company develops and markets branded products and services that provide schools and other political subdivisions viable solutions for safety, compliance, and accessibility. The Company's Renewable Fuels and Alternative Energy subsidiary pursues opportunities to commercialize and grow green-based technologies and in June 2009 signed an exclusive worldwide license agreement to fully-commercialize their patented dual fuel alternative energy system technology.

"Safe Harbor" Statement: Under the Private Securities Litigation Reform Act

With the exception of the historical information contained in this news release, the matters described herein contain "forward-looking" statements that involve risks and uncertainties that may individually or collectively impact the matters herein described, including but not limited to the facts that we have sold the tire recycling operations which have historically generated substantially all our revenue and that we will be prohibited from competing in that business on a regional basis until 2013, the risk that we may not be able to increase the revenue of our Welch division, the risks that we may not be able to identify and acquire complementary businesses and that we may not be able successfully to integrate any such acquisitions with our current businesses, the risk that we may not be able to return to sustained profitability, the risk that we may not be able to secure additional funding necessary to grow our business, on acceptable terms or at all, the risk that, if we have to sell securities in order to obtain financing, the rights of our current stockholders may be adversely affected, and the risks of possible adverse effects of economic, governmental, seasonal and/or other factors outside the control of the Company, which are detailed from time to time in the Company's SEC reports, including the Annual Report on Form 10-KSB for the fiscal period ended September 30, 2008. The Company disclaims any intent or obligation to update these "forward-looking" statements.

Publication Contributing Sources