|By Business Wire||
|February 20, 2014 05:00 AM EST||
By working to educate the millions of end-product electronics consumers in Latin America on how to properly dispose of their electronic-waste, Green Technology Solutions (OTCBB: GTSO) could be poised to capitalize on that region’s potentially lucrative electronic-waste market.
With the global e-waste marketplace projected to reach $11.4 billion this year, GTSO is partnering with Chilerecicla to educate Latin American countries on recycling their e-waste safely. Chilerecicla, with whom GTSO recently collaborated on an e-waste shipment transaction to Europe, recently hosted its second Electronic Recycling Fair in Talca, Chile. Businesses and residents attending the fair were encouraged to let Chilerecicla recycle their old television sets, computers, cell phones and other gadgets instead of throwing them away.
With a population of 620 million residents and its population growth estimated at almost seven million annually, Latin America is a potential e-waste goldmine. A recent study showed that only 1 to 3 percent of e-waste in Chile is being recycled. According to data from World Bank, Latin America has already surpassed 100 percent mobile phone penetration; on average, there are 107 mobile phones per 100 people across the region. Nevertheless, Cisco’s Visual Networking Index mobile forecast study projects the number of smartphones in Latin America to almost triple by 2018, suggesting the market will continue to grow.
“This is the reason why we chose Chilerecicla as a partner. What they are doing to educate Latin American communities on recycling e-waste is something we want to bring to the U.S.,” GTSO CEO Paul Watson said. “With urbanization reaching new levels in Latin America, recycling programs can result in big profits for the Company as end product users learn to turn in their old electronics through these programs. This is a win-win situation for our investors, and for the environment.”
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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