|By Business Wire||
|March 4, 2014 05:00 AM EST||
Green Technology Solutions (OTCBB: GTSO) is evaluating the revenue potential of electronic-waste management and the reclamation of resources in Latin America as the Company optimizes the collection of e-waste in that region.
Similar to what international financial institutions are doing to prioritize the recycling of e-waste in developing countries, GTSO, alongside joint venture partner Chilerecicla, has begun talks with the University of Concepcion’s Metallurgical Department to pursue commercially viable ways to extract precious metals from e-waste in Latin America. In the midst of a population boom, the region currently has over 600 million residents, many of whom fail to recycle their discarded televisions, computers, cellular phones and other end-of-use electronics.
GTSO, through its relationship with Chilerecicla that has already produced an e-waste transaction of a shipment from Latin America to Europe for smelting that is now in the processing cycle, is positioning itself to gain a share of the $13 billion e-waste sector.
“With less than four percent of all e-waste in Chile being recycled, there is an excellent opportunity in Chile and Latin America to improve that number through e-waste education and collection,” GTSO CEO Paul Watson said. “Discussions engaged through our partnership with Chilerecicla could establish Chile as a great focal point for Latin America and a place where GTSO can gain significant traction in the market.”
Urban mining is pivotal to GTSO’s vision to compete alongside major international corporations striving for sustainable waste solutions, such as Covanta Holding Corporation (NYSE: CVA), Industrial Services of America (NASDAQ: IDSA) and Sims Metal Management Ltd. (NYSE: 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. is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit http://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.
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