GTSO and Chilerecicla Plan Expansion into Booming South American E-Waste Market
SAN JOSE, Calif.--(BUSINESS WIRE)-- As Green Technology Solutions, Inc. (OTCBB: GTSO) and Chilean recycler Chilerecicla move forward with due diligence toward a potential partnership, discussions have turned to synergistic opportunities in the expansion of e-waste collection operations outside of Chile.
Efforts to replicate Chilerecicla's success in neighboring Latin American nations would be an ambitious project for both companies. The potential partnership would allow GTSO to help fund the expansion of Chilerecicla's e-waste recycling business in exchange for hands-on experience establishing the necessary facilities and processes that could be then be transferred to operations planned for the U.S.
"As Chilerecicla's success shows, South America is ripe with market potential for these kinds of urban mining operations," said GTSO CEO Paul Watson. "In order to capture a piece of this emerging market, expansion outside of Chile is a natural next step for their company. It would also provide a tremendously valuable opportunity for GTSO to learn all there is to know about setting up profitable and productive recycling centers and collection services that we can apply to our plans for the North American market."
Founded in 2009, Chilerecicla opened the first e-waste recycling plant in Southern Chile. The company 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 month, GTSO signed a letter of intent with Chilerecicla as a first step toward expanding its recycling footprint 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) .
For more information on GTSO's urban mining initiative, please visit www.gtsoresources.com/investors.html.
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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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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