GTSO Advances Talks on Urban Mining Deal as E-Recycling Market Explodes
SAN JOSE, Calif. -- March 15, 2013
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 (NASDAQ: IDSA) and Sims Metal Management Ltd.
(NYSE:SMS). Late last year, GTSO acquired the companyGlobal Cell Buyers and
soon after rebranded the company as Green Urban Miningto handleits domestic
recycling and resale operations.
AboutGreen 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
Follow us on Twitter atwww.twitter.com/gtsoresources.
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
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herein for events occurring after the date hereof.
Green Technology Solutions, Inc.
Paul Watson, 408-432-7285
President and CEO
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