$TNKE ~ News out!
Tanke Invests Second Round Into the E-Waste Business
Invests $2.3 mm and Commits to Further Growth Investment in E-Waste
ST. LOUIS, MO--(Marketwired - Feb 25, 2014) - Tanke Incorporated (OTC Pink: TNKE) (the "Company"), a diversified holding company focused on emerging technologies and 'Cleantech,' announced today an investment of $2.3 million in E-Waste Systems, Incorporated ("E-Waste Systems").
Tanke develops, manages and finances emerging companies in high growth industries using an asset acquisition model. The e-waste and reverse logistics market has become a $100 billion annual business (Source:Blumberg Associates), primarily driven by the ever faster proliferation of smart electronics. The Company has a focus in environmental technologies ('Cleantech'), a market which is estimated to reach $396 billion by 2021 according to Clean Edge[1].
Tanke has significant cross border investment and operating expertise in emerging industries such as electronic waste and an extensive network in emerging countries such as China and Asia. "Electronic Waste is a very attractive business for Tanke and China and India represent the 2 largest active markets in the world with China predicted to become the largest market before 2015. Investing in electronic waste though E-Waste Systems has proven to be a good investment strategy for us. We want to be more involved now," said Xiaoying Zhang, CEO of Tanke.
Tanke believes that globalization and the emergence of Asia and other markets strains natural resources, water, energy and food, and as a result, environmental technologies is at the forefront of the new paradigm shift in usage of resources.
Founded in 2008, E-Waste Systems is a leading and fast growing company in the emerging waste electrical and electronics equipment ("WEEE") industry. EWSI, through its affiliates and subsidiaries, presently is able to arrange collections in the USA from any zip code in the USA and has established operations in many parts of the world including Asia, China, India, South America, UK and others.
"The relationship between Tanke and EWSI is stronger than ever, and our business to date have far exceeded our expectations," said Martin Nielson, founder and CEO of E-Waste Systems Inc. "Having Tanke as a strategic partner with strong has helped us accelerate our business plan and making E-Waste Systems one of the fastest growing companies in the eWaste industry. Tanke's success in developing sophisticated cross border transactions especially in China is unique to the market."
"We are very pleased with E-Waste Systems abilities and performance. From the beginning of our relationship, Mr. Nielson and his company have performed their business plan exceptionally well and have achieved major growth in a very short time. We strongly support this company and this investment is based on their commitment to build the EWSI brand and the professionalism of its management team. As investors we are very satisfied with their performance and growth to date and expect that this new round of investment will yield the same excellent results," says Xiaoying Zhang, CEO of Tanke.
"In addition to our investment, the master license and initial 3 licenses with EWSI which carried a commitment for $5 million was rapidly fulfilled in less than 6 months. We expect our next licenses will be completed before mid-year 2014. We find the demand for eWaste and environmental services to be increasing and much needed. And when done properly and within eWaste quality standards, it has significant social value," said Xiaoying Zhang, CEO of Tanke.
The deal with EWSI consists of investment terms similar to the original one and a separate 2-year licensing deal for additional brand licenses. It is expected to help EWSI further ability to deploy its business into geographies where Tanke has resources, expertise and distribution by providing introductions and support.
"EWSI is by far the fastest growing and most efficient electronic waste company," said Tanke CEO Xiaoying Zhang, in a statement. "Martin Nielson as CEO of E-Waste System is doing a great job. His experience, commitment to green technologies, and his strategic vision are all steering the company in the right direction and so we are pleased to provide this investment, expertise and network to this growing company," said Xiaoying Zhang, CEO of Tanke.
Tanke works closely with its capital partners and management resources to assist our portfolio companies in a strategic manner to drive significant operational improvements including sales and profit growth, market leadership and innovation strategies, geographic expansion, and capital raising. Our network spans over 30 countries with a main focus on developed countries such the USA, UK and parts of Europe and particularly high growth economies such as China and India.
Additional information is available on the Company's website: www.tankeinc.com or contact Investor Relations at: IR@tankeinc.com
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