E-Waste Systems, Inc. Continues Aggressive Expansion in China |
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E-Waste Systems, Inc. Continues Aggressive Expansion in China
Signed $2.3 Million Investment LONDON, UNITED KINGDOM and SHANGHAI, CHINA--(Marketwired - Jan 23, 2014) - E-Waste Systems, Inc. (OTCQB: EWSI) ('EWSI' or the "Company"), an electronic waste management, reverse logistics, environmentally focused services and technology company and the first pure play public e-waste operator, announced today that it has finalized commitment by Tanke Inc to make a $2.3 million investment to support further expansion into China. "Last year we began our journey into the Chinese market with the help of a $650,000 investment from Tanke, tied to a Master Licensing Agreement, and we have been thrilled with the results," said Martin Nielson, Founder and CEO of E-Waste Systems, Inc. "China continues to be a strong focus for EWSI, and this new commitment from Tanke is proof positive that the market is responding to what we offer." In addition to the original $650,000 investment and the $150,000 2-year Master Licensing fee from Tanke in 2013, E-Waste Systems also received a sales commitment under the EWSI brand of $5,000,000 with a 2% royalty1. "We are allocating more resources to EWSI based upon the tremendous interest and success experienced in our first year with the company," said Xiaoying Zhang, CEO of Tanke. "Martin is building an exceptional solution to the growing e-waste problems of the world, and he is elevating the game every day with the addition of deeply entrenched talent throughout the regions of China and beyond." "The relationship between Tanke and EWSI is stronger than ever, and the deliverables to date have far exceeded both parties' expectations," Martin added. The new agreement between EWSI and Tanke supports the terms of the original, including the 2-year licensing deal, committing an additional $2.3 million investment to further expand operations in China. "Investment in green technologies a core focus of Tanke and their commitment is evident in the sucess of their initiatives, particularly on behalf of EWSI," said Mr. Nielson. "China has the greatest opportunities for growth in e-waste recycling. Not only is there a massive population adopting the latest technologies, but for over a decade, during the boom in consumer and commercial technology, China was and continues to be a target for e-waste exports. Because of this, China is in need of the most advanced solutions in e-waste recycling, ones that protect the environment and the health of the people, turning these dire problems into exciting opportunities." EWSI brings technology, regulatory knowledge, industry experience, and an interwoven supply chain solution for the proper handling of high-end electronics recycling, and electronic waste materials recovery and reuse on a global scale. Teaming with EWSI provides access to network affiliates, proprietary technologies, including the ePlant1000, eWasteCC™, and eWasteTrack™, and commitment to the highest industry standards, including zero landfill and the highest tier of health and safety. "In the last 12 months our footprint has grown and we now have inroads in China, India, Mexico, Australia, Argentina, Ghana, The Caribbean, the UK, Italy, plus our core operations in the United States, including California, New York, New Jersey, and Ohio2. We are just getting started, and 2014 is already miles ahead of our break-out year. We continue to expand our technological expertise, industry experience and know-how, network commitments, and processing facilities and capabilities creating a formidable presence in the e-waste solutions marketplace." said Martin. "And the market continues to grow at an unprecedented rate." Approximately 65 million tons of global e-waste generation is expected annually by 2017 with strong continual growth thereafter3. In 2012, China alone generated 7.25 million metric tons (equivalent to slightly less than 8 million U.S. tons) of e-waste, and introduced over 11 million metric tons of new electronics into the marketplace, many of which will have a shelf-life of only 1-3 years4. They and other emerging economies are also recipients to approximately 70-80% of the e-waste collected by recyclers in the United States, Australia, and Europe5 6 7. "The challenges we face in the Chinese e-waste market are unique so we are navigating through uncharted waters," Mr. Zhang added. "Martin's experience, commitment to green technologies, and his incredible strategic vision are all steering us in the right direction, so we are pleased to contribute our expertise and networking to this exceptional organization." As recently announced, provided below are the details for the Conference Call that will be held by Martin Nielson from his office in London. Scheduled time: Tuesday, 28th January 2014 - 9:00 am EST Conference call numbers: United States +1 424-203-8405 Conference access code: 517589 |
