GTSO and Chilerecicla Poised to Revolutionize $9 Billion E-waste Market
SAN JOSE, Calif.--(BUSINESS WIRE)-- Less than a week after finalizing a joint venture with Latin American e-waste recycler Chilerecicla, Green Technology Solutions, Inc. (OTCBB: GTSO) is already making plans to translate its new partner's urban mining success to the United States.
Founded in 2009, Chilerecicla opened the first e-waste recycling plant in Southern Chile and specializes in direct removal of e-waste from clients' offices for reuse and recycling. It's a successful business model that GTSO believes can help the company grab a share of the growing global e-waste recycling and reuse services industry, which Transparency Market Research predicts accounted for more than $9 billion in 2012.
First, GTSO will help its partner expand its business to Chile's neighbors. Latin American nations such as Chile lead the U.S. in recovering unwanted computers, electronics and other gadgets from the waste stream, but the U.S. remains a rich market for urban mining that GTSO is determined to tap. According to the EPA, only about 25 percent of electronic waste is collected in the U.S., with about 38 percent of that waste stemming from computers.
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 and recycling around the world. To learn more, please visit the website at www.GTSOresources.com/investors.html.
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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