SAVAGE, Minn. (Sept. 10, 2008) — Tire recycler GreenMan Technologies Inc. has formed a subsidiary called GreenMan Renewable Fuel and Alternative Energy Inc.
The subsidiary's prime focus is to pursue licenses, joint ventures and long-term contracts to commercialize existing and late-stage development products using “green-based” technologies, including renewable fuels, alternative energy and recycled products, GreenMan said.
Chuck Coppa, GreenMan chief financial officer, said the company is concentrating on gasification, one of their specialties, but won't limit themselves to that.
GreenMan is in discussions with a number of potential joint venture partners but is not yet ready to announce any details, according to Coppa.