E-Waste Systems Enters Into Public Agreement in In
Post# of 3844
LONDON, UNITED KINGDOM, Oct 08, 2013 (Marketwired via COMTEX) -- E-Waste Systems, Inc. (OTCQB: EWSI) ('EWSI' or the "Company"), an electronic waste management services, technology and reverse logistics company and the first public pure eWaste company, announced today that it has signed an MOU with Cerebra Integrated Technologies Limited ('Cerebra'), a publicly traded company listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Cerebra, based in Bangalore, India is India's leading total IT Solutions provider. The agreement calls for the creation, in Bangalore, of the largest E-Waste facility in India, using EWSI's ePlant1000(TM) technology. The facility is expected to achieve at least 98% recovery of recyclable materials. An investment via a share exchange between the partners is also expected to form part of the relationship.
"We are extremely excited to announce this new venture in India. It is a superb step in executing our global plan and in fulfilling our commitment to the environment. This venture is planned to create the largest and most complete state of the art recycling facility in India. The Bangalore site, which covers 12 acres, is expected to use ePlant1000(TM) -- EWSI's engineering technology in its implementation. India is a vast and fast growing market where e-waste is becoming a serious social and environmental problem. The combination of our technology and expertise with the experience, acumen and business network of Cerebra is expected to become a model for commercial and environmental applications in our industry," said Martin Nielson, Founder and CEO of EWSI.
Bangalore, the capital city of the state of Karnataka, is India's third most populous city and fifth-most populous urban agglomeration. It is known as the Silicon Valley of India because of its position as the nation's leading Information Technology (IT) exporter. Bangalore's population of 8.5 million makes it the 18th largest city in the world. With an economic growth rate of 10.3%, Bangalore is the second fastest growing major metropolis in India, and is also the country's fourth largest market for fast moving consumer goods. (1)
Announcing the signing of the MOU with EWSI, Mr. V. Ranganathan, Managing Director of Crerebra said, "We are delighted to inform our constituents of this major step in our plan to set up India's largest E-Waste Recycling facility at our Bangalore site. With this partnership with EWSI we hope for an early completion of our joint facility and we are sure we are on our way to becoming the FIRST Global Indian MNC in the WEEE management. By teaming with EWSI, Cerebra is now positioned to become a major player in the E-Waste Recycling marketplace."
With nearly 2,700 IT companies registered in the city, Bangalore is fast becoming a dumping ground for the electronic waste generated by these firms. Bangalore generates over 20,000 metric tons of e-waste per annum, a volume that is growing at a compound annual growth rate (CAGR) of about 20%. Increased demand for key products like personal computers, television sets and cellphones in the last 5-10 years is seen as responsible for the increased e-waste in the country. Workers are poorly-protected in an environment where e-waste is often burned in the open, releasing lead, mercury and other toxins into the air. (2)
Cerebra, through its global subsidiaries and joint venture partners provides a comprehensive and total set of both services solutions and products in IT, contract manufacturing, IT repair and refurbishment, and recently announced its entry into e-waste recycling. It has acquired both governmental licenses and a 12 acre property for this new e-waste plant.
Cerebra's turnover reached over Rs. 1.65 Billion (US$26 Million) in the year ended September 2012 covering all the above businesses. Cerebra has become a leading manufacturer of hardware and sold its computers across the country under the brand name Cerebra. The company's net worth is Rs.844 Million ($13 Million) and has no debt. Cerebra started its E-Waste operations in a temporary facility in the Peenya Industrial Area of Bangalore and has obtained the necessary approvals from the Karnataka State Pollution Control Board for this operation. Cerebra has also applied for and received its CFE (Consent for Establishment) approvals for this Integrated E-Waste recycling plant. Cerebra's temporary e-waste facility is already certified under ISO 9001, ISO 14001 and OHSAS 18001 and expects to shortly obtain R2 certification.
"The generation of eWaste in India has become a significant problem. The country is vast and an important growing economic power and a major consumer of electronics. There recent laws and regulations implemented are very good, but there is very little capacity with which to implement these requirements. Our partnership with Cerebra is a great way to launch a joint program focused on collection and treatment of ewaste before the problem multiplies and proliferates in landfills," said Mr. Nielson.
Today, EWSI is able to arrange collections in the USA from every zip code and has entered the UK market, opened a key office in China, launched a partnership in Australia and recently announced deals in South America, Mexico and Africa. EWSI brings technology, including its recently announced proprietary ePlant1000 (TM), eWasteCC(TM) carbon credit and eWasteTRACK(TM) solutions, regulatory knowledge, industry experience and management services to its subsidiaries and affiliates, brand licensees, and teaming partners around the world as part of its strategy to extend the presence and global influence of the Company's branded services and technologies.
For more information as it happens, follow @EWasteSystemsIn (https://twitter.com/EWasteSystemsIn) on Twitter and Facebook ( http://www.facebook.com/ewastesystems ) and on the company's blog at www.ewastesystems.blogspot.com
Or contact: Investor Relations at: ir@ewastesystems.com
References:
1. Wikipedia 2. DNA India
http://www.dnaindia.com/bangalore/1881949/rep...of-e-waste
Industry Expansion The e-waste and reverse logistics market has become a $100B+ annual business (Source: Blumberg Associates), excluding much of the resale of still usable goods that flood the marketplace as new updates in software and hardware are released. Furthermore, as environmental legislation and policies sets more stringent requirements for the disposal of these items, many analysts and practitioners expect e-waste to grow faster than any other waste stream over the next 5 years. The benefits of e-waste management and recycling are many, including conservation of natural resources, creation of new jobs, prevention of environmental contamination by toxic chemicals, and reduction of energy requirements.
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 targets companies facing regulatory or other mandates for handling e-waste. EWSI operates and assists its large geographical network of affiliates, applying best practices in professional management, offering state-of-the-art engineering, providing a true global e-waste solution. Additional information, including the business plan summary, is available on the Company's website, www.ewastesystems.com .
About Cerebra Cerebra Integrated Technologies Limited (Cerebra) Cerebra a NSE & BSE listed IT/ITeS Company started in the year 1992, is a global services provider delivering business solutions that meet the core objectives of our clients. Cerebra, has its manufacturing facility in Peenya and its subsidiary ITeS division in Yeshwanthpur, Bangalore where it produces EMS, Legal Support Services and Enterprise Solutions to its clients. Cerebra offers to its clients the following services; Legal Process Outsourcing (LPO), Cerebra LPO a subsidiary of Cerebra offers its customers in UK, USA & India legal support services where lawyers, paralegal and engineers work together to deliver quality legal services to these clients; IT & ITeS - Services focused on Enterprise Mobility Solutions, WEB 2.0 and e-Business Solutions. Medical Transcription (MT) Cerebra MT, provides I.T. solutions for physician practices and healthcare organizations; Electronic Manufacturing Services (EMS) Cerebra EMS, has the state of the art SMT line which caters to manufacturing of electronic assemblies to the global market; Enterprise Solutions & Infrastructure Management (ESD) Cerebra, provides comprehensive services to help organizations optimize critical IT staff. Our Infrastructure Management Services offer a complete portfolio of solutions and services for managing enterprise IT infrastructures. Cerebra Middle East FZCO is a niche IT Distribution house offering Data Centre and IT Infrastructure management solutions to the Middle East and North Africa Market. We provide comprehensive suite of solutions & services that enable enterprises of all sizes to efficiently store, protect & manage business critical data, and harness the value of information. Established in Dubai, U.A.E, in April 2011, Cerebra Middle East FZCO is a subsidiary of Cerebra Integrated Technologies Ltd. Cerebra Middle East FZCO is extremely client-centric and technology-neutral in providing full spectrum of Data Centre and IT Infrastructure management solutions to customers in the SMB, SME, mid-market & Large Enterprise domain, through a wide channel partner network, consisting of Value Added Resellers and Systems Integrators. Focused approach, superior industry knowledge and advanced technical skill sets make Cerebra Middle East FZCO a true Value Added Distributor in the region. Cerebra Middle East FZCO also focuses on E-Waste Management in the MENA & KSA regions. Cerebra's turnover reached over Rs. 1650 Million in the year ended September 2012 covering all the above businesses. Cerebra was earlier a leading manufacturer of hardware and sold its computers across the country under the brand name Cerebra. The company's financials are robust and has a net worth of Rs.844 Million with no debt. In the electronics waste area, Cerebra has started its Indian E-Waste operations from a temporary facility in Peenya Industrial Area, Bangalore and has taken up the necessary approvals from the Karnataka State Pollution Control Board for the same. Cerebra has also applied for its CFE (Consent for Establishment) approvals for its Integrated E-Waste recycling plant at Bangalore. Our temporary e-waste facility is already certified for ISO 9001, ISO 14001 and OHSAS 18001. It shortly expects to get the R2 certification too.
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.
Contact:
E-Waste Systems, Inc.
Investor Relations
ir@ewastesystems.com
SOURCE: E-Waste Systems, Inc.
(C) 2013 Marketwire L.P. All rights reserved.
-0-
SUBJECT CODE: Environment:Regulations and Law
Environment:Waste Management
Environment:Hazardous Materials Management
(0)
(0)