With corporate headquarters in Savage, Minnesota, GreenMan Technologies, Inc. and their subsidiaries collect, process, and market scrap tires in whole, shredded, or granular form in the United States and Canada. Trading on the OTCBB as part of the Rubber and Plastics industry, GreenMan has a market capitalization of $7.41 million. Founded in 1992, the company markets their products via a direct sales force.
GreenMan Technologies collects and recycles millions of tires each year for many applications. The recycled and reprocessed tires find use as efficient alternative fuels in large industrial boilers. They also find use as a substitute for crushed stone in civil engineering applications such as roadbeds, landfill construction, and septic field construction. In addition, tires are recycled as crumb rubber for playground and sports surfaces, for rubberized asphalt, and for landscaping applications. This crumb rubber is also used for public walkways, equestrian arenas, and other molded rubber products.
The company produces and sells tire chips as tire-derived fuel (TDF), which is a substitute or secondary fuel source used by paper mills, cement kilns, and electric utility companies. Cement kilns and electric companies can also use whole tires as a fuel source. GreenMan also manufactures, sells, and installs playground safety tiles consisting of crumb rubber feedstock.
They also sell playground equipment and full turnkey services. These services include annual safety reviews and post-sale maintenance programs to schools and park recreation facilities. GreenMan currently offers these services in California, Iowa, Minnesota, and Missouri.
The company has new gasification and pyrolysis applications in development that they expect to use to produce low-grade fuel oils, ethanol, a carbon black by-product, and agricultural zinc sulfate in the future. Along with the markets mentioned, the company’s customer base also includes tire manufacturers, tire outlets, state governments, schools, and park and recreation departments. The company’s processing facilities are in Savage, Minnesota, as well as Des Moines, Iowa. GreenMan’s playground safety tile manufacturing facility is in Carlisle, Iowa and their playground equipment warehouse is in Macon, Missouri.
On Monday, GreenMan Technologies announced that their wholly-owned recycled products subsidiary, Welch Products, was awarded a multiple site playground project in Platte County, Missouri. Welch’s playground division, National Safe Surfacing Initiative (NSSI), entered into the agreement. The project consists of the installation of a total of four playgrounds at two public elementary schools in the Platte County R-3 school district. It is projects such as this, along with continued innovations when it comes to recycling scrap tires, that keeps GreenMan an active player in the green business environment.
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