GTSO Advances Talks on Urban Mining Deal as E-Recycling Market Explodes
SAN JOSE, Calif.--(BUSINESS WIRE)-- U.S.-based urban mining company Green Technology Solutions (OTCBB: GTSO) is exploring potential synergies and discussing possible terms with Chilean e-waste recycler Chilerecicla as the global urban mining market heats up fast.
Emerging markets such as Latin America, Africa and China will witness explosive e-waste growth by up to 500 percent over the next decade. According to Dr. Park Young-Woo, regional director of the UNEP Asia Pacific, the volume of e-waste produced is increasing by a massive 40 percent each year worldwide, equivalent to about 15 tons per year—about 80 percent of which end up in landfills and incinerators.
This stream of valuable resources holds unprecedented revenue potential for recovered minerals and metals, says GTSO CEO Paul Watson.
"Chilerecicla resides in a major emerging market for urban mining, and the company has done an impressive job of offering sustainable recycling solutions for both businesses and consumers," Watson said. "We're looking forward to examining their best practices very closely, because we believe that the U.S. is a prime market for e-waste recycling and many of the lessons learned abroad can be applied here."
Chilerecicla was founded in 2009 and opened the first e-waste recycling plant in Southern Chile. Based in the city of Chillán, 400 kms south of Santiago, Chilerecicla specializes in the direct removal of electronic waste from clients' offices facilities for transport to its central plant as well as the sale of reusable materials.
Last week, GTSO signed a letter of intent with Chilerecicla in a first step toward expanding its recycling operations into the booming Latin American market. Urban mining is key to GTSO's plans to compete alongside major international corporations striving for sustainable waste solutions, such as Industrial Services of America (NAS: IDSA) and Sims Metal Management Ltd. (NYS: SMS) . Late last year, GTSO acquired the company Global Cell Buyers and soon after rebranded the company as Green Urban Mining to handle its domestic recycling and resale operations.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. [www.gtsoresources.com] is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit the website at www.GTSOresources.com/investors.html.
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Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Green Technology Solutions, Inc.
Paul Watson, 408-432-7285
President and CEO
KEYWORDS: United States North America South America Chile California
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