Green Label, a record label aimed at pushing independent artists has just put out a new track by Neon Indian entitled “Sleep Paralysist.” The label, which also got its hands dirty with indie-rock artists Matt & Kim, Chromeo, Holy Ghost!, Flosstradamus, The Cool Kids, and Solid Gold, to name a few, has posted Neon Indian‘s new single on its website, where you can listen to and download the track for free.

Alan Palomo, who got his start as VEGA, began Neon Indian as an alternative outlet for his music after he began writing tracks that didn’t quite fit the VEGA demographic. Since the release of his debut album Psychic Chasms in 2009, Neon Indian has enjoyed acclaim from Rolling Stone, Spin, and the like.

For “Sleep Paralysist,” Palomo teamed up with Grizzly Bear front-man Chris Taylor, recording the track in Taylor’s Brooklyn-based studio, Terrible Studios. Together, the duo created a song in the vain of what made Palomo famous in the first place. On it, the synth God offers midi jives that are a little bit Nintendo and just as 80′s as the Polaroid above suggests.

Green Label will also be holding a showcase during SXSW on Friday, March 19th, at Club de Ville in Austin, TX. The showcase, which will feature performances by Ra Ra Riot, Theophilus London, Tanlines, and Solid Gold, will be streamed live on www.Justin.tv/GreenLabelSound.