Welcome!

News Feed Item

E-Waste Systems, Inc. Restructures Expanded China Operations

Audited Financials and Strict Management to Build the Base for the New Contracts

LONDON, UNITED KINGDOM -- (Marketwired) -- 09/04/14 -- E-Waste Systems, Inc. (OTCQB: EWSI) ('EWSI,' 'the Company,' or "eWaste Systems") an electronic waste management, environmentally focused services and technology company, announces the formation of a new subsidiary EWS-China Ltd to lead the operations in East Asia.

In China sales of electronic devices are surging, generating as much as 2.3 million tonnes of electronic waste domestically each year, according to a 2010 report by the United Nations Environmental Program (UNEP). According to the report, e-waste production in China and South Asia is predicted to grow 200-400% by 2020, second only to the United States, which produces three million tonnes annually. The national market is not the only source for discarded electrical and electronic equipment ("EEE") in China where, despite the country's ban on all e-waste imports, enacted in 2000, legal loopholes on trans-boundary imports are largely tolerated.

Despite improvements to treatment facilities in recent years, China still lacks sufficient high-tech recycling facilities and relies instead on environmentally damaging methods of disposal. Some e-waste is burned and large amounts of hazardous material are abandoned without treatment, according to a report by China Environment News.(1)

"The considerable effort and resources deployed to penetrate the tremendous and fast-growing Chinese market is beginning to reap some of the vast potential. We have learned a great deal and now have a formula to overcome previous obstacles key among which is the process to defer risk until results can be properly measured and audited. With the bulk of the investment behind us, we are now positioned to take advantage of the significant network we have created," said Mr. Martin Nielson, Founder & CEO of E-Waste Systems.

The new plan implemented to proceed with the expansion strategy in East Asia is managed through a new subsidiary, EWS-China Ltd. An Executive Committee formed with both internal and external experienced resources will guide the operations. The company will be independently capitalized in order to design and develop ventures and support operations related to the eWaste, eVolve and eIncubator business units.

Partnership with an leading accounting firm with an understanding of the China market and business practices while focused on US GAAP will provide, from day one, the consistent support to review all the contracts -- either already existing or those that will be entered into in the future -- to achieve the consolidation of balance's final result. Regular reporting, US GAAP accounting, proper financial controls, and full managerial responsibility provide the best practice tools to manage the operations, maintaining the full commitment to the highest standards and complete sustainability.

"We are receiving requests nearly daily for solutions to the massive problem developing and rapidly expanding in countries where more than two decades of indiscriminate landfilling has caused an enormous plague. The magnitude of the issue is the impetus behind out drive to provide a concrete and reliable solution for proper disposal of electronics," said Mr. Nielson. "Our experience in China has provided a model we can replicate and apply in other high risk markets proving that a strategy based on the sustainability can produce benefits for the environment and the community together with profitability," added Mr. Nielson.

According to a new market research report the revenue generated from the e-waste management market is expected to grow from $9.15 billion in 2011 to $20.25 billion in 2016 at a rate of 17.22 percent. Management of e-waste provides benefits such as job creation, improved technological knowledge, and environmental benefits. In developing countries, job creation also helps in alleviation of poverty and improved health conditions.(2)

For information, video and pictures follow E-Waste Systems, Inc. on LinkedIn & Facebook, @EWasteSystemsIn on Twitter and on the Company's website www.ewastesystems.com.

For additional inquiries, contact Investor Relations at: [email protected].

About E-Waste Systems, Inc.
E-Waste Systems, Inc. is the first pure play public company in the emerging waste electrical and electronics equipment ("WEEE") industry. EWSI leverages its expansive geographical network of affiliates providing best practices in professional management and state-of-the-art engineering to companies facing regulatory or other mandates for handling e-waste. Additional information, including the business plan summary, pictures and descriptions of the facilities, staff, and overall progress of the Company is available on the official website and social media sites: www.ewastesystems.com, Facebook, Twitter, and LinkedIn. Or contact: Investor Relations at: [email protected].

Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.

(1) http://www.ipsnews.net/2011/07/e-waste-hits-china/
(2) http://www.marketsandmarkets.com/Market-Reports/electronic-waste-management-market-373.html

Contact
E-Waste Systems, Inc.
Investor Relations
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
What is the best strategy for selecting the right offshore company for your business? In his session at 21st Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, will discuss the things to look for - positive and negative - in evaluating your options. He will also discuss how to maximize productivity with your offshore developers. Before you start your search, clearly understand your business needs and how that impacts software choices.
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant th...
Most of the time there is a lot of work involved to move to the cloud, and most of that isn't really related to AWS or Azure or Google Cloud. Before we talk about public cloud vendors and DevOps tools, there are usually several technical and non-technical challenges that are connected to it and that every company needs to solve to move to the cloud. In his session at 21st Cloud Expo, Stefano Bellasio, CEO and founder of Cloud Academy Inc., will discuss what the tools, disciplines, and cultural...
SYS-CON Events announced today that Cedexis will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Cedexis is the leader in data-driven enterprise global traffic management. Whether optimizing traffic through datacenters, clouds, CDNs, or any combination, Cedexis solutions drive quality and cost-effectiveness.
SYS-CON Events announced today that SIGMA Corporation will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. uLaser flow inspection device from the Japanese top share to Global Standard! Then, make the best use of data to flip to next page. For more information, visit http://www.sigma-k.co.jp/en/.
Is advanced scheduling in Kubernetes achievable? Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, will answer these questions and demonstrate techniques for implementing advanced scheduling. For example, using spot instances ...
SYS-CON Events announced today that Yuasa System will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Yuasa System is introducing a multi-purpose endurance testing system for flexible displays, OLED devices, flexible substrates, flat cables, and films in smartphones, wearables, automobiles, and healthcare.
SYS-CON Events announced today that Taica will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Taica manufacturers Alpha-GEL brand silicone components and materials, which maintain outstanding performance over a wide temperature range -40C to +200C. For more information, visit http://www.taica.co.jp/english/.
SYS-CON Events announced today that B2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. B2Cloud specializes in IoT devices for preventive and predictive maintenance in any kind of equipment retrieving data like Energy consumption, working time, temperature, humidity, pressure, etc.
Today traditional IT approaches leverage well-architected compute/networking domains to control what applications can access what data, and how. DevOps includes rapid application development/deployment leveraging concepts like containerization, third-party sourced applications and databases. Such applications need access to production data for its test and iteration cycles. Data Security? That sounds like a roadblock to DevOps vs. protecting the crown jewels to those in IT.
Many companies start their journey to the cloud in the DevOps environment, where software engineers want self-service access to the custom tools and frameworks they need. Machine learning technology can help IT departments keep up with these demands. In his session at 21st Cloud Expo, Ajay Gulati, Co-Founder, CTO and Board Member at ZeroStack, will discuss the use of machine learning for automating provisioning of DevOps resources, taking the burden off IT teams.
SYS-CON Events announced today that NetApp has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. NetApp is the data authority for hybrid cloud. NetApp provides a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. Together with their partners, NetApp em...
Why Federal cloud? What is in Federal Clouds and integrations? This session will identify the process and the FedRAMP initiative. But is it sufficient? What is the remedy for keeping abreast of cutting-edge technology? In his session at 21st Cloud Expo, Rasananda Behera will examine the proposed solutions: Private or public or hybrid cloud Responsible governing bodies How can we accomplish?
SYS-CON Events announced today that Ryobi Systems will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ryobi Systems Co., Ltd., as an information service company, specialized in business support for local governments and medical industry. We are challenging to achive the precision farming with AI. For more information, visit http:...
Cloud-based disaster recovery is critical to any production environment and is a high priority for many enterprise organizations today. Nearly 40% of organizations have had to execute their BCDR plan due to a service disruption in the past two years. Zerto on IBM Cloud offer VMware and Microsoft customers simple, automated recovery of on-premise VMware and Microsoft workloads to IBM Cloud data centers.