GTSO and Partners Finalize Feasibility Study for Latin American Expansion
SAN JOSE, Calif.--(BUSINESS WIRE)-- As global demand for rare earths and precious elements continues to climb, Green Technology Solutions, Inc. (OTCBB: GTSO) prepares for a major push to collect and resell rare earths-rich e-waste in the booming Latin American market.
GTSO and partners Chilerecicla, one of South America's top recyclers of e-waste, have completed a feasibility study detailing the purchasing of potentially lucrative e-waste from throughout the region for processing and resale to international companies. A leader in Chilean urban mining, Chilerecicla operates the first e-waste recycling plant in Southern Chile and maintains crucial relationships with overseas smelters, with the right to sell them as many recovered metals and minerals as GTSO and Chilerecicla can provide.
With Chilerecicla now operating at full capacity, a major expansion in productivity is being planned to capitalize on the incredible growth of e-waste stocks in the region by purchasing large quantities of discarded cell phones, computers, televisions and more.
In addition to valuable concentrations of copper, gold and platinum, these electronic devices contain rare earth elements such as yttrium, neodymium, germanium and europium. The incredible demand for newer and better electronics, from tabet computers to electric cars, has caused a global supply crunch that GTSO believes e-waste can help solve.
So far, Chilerecicla has signed an initial agreement with one of Bolivia's largest e-waste operators and is in negotiations with others in Ecuador, Argentina and elsewhere. By securing favorable purchase prices from these e-waste suppliers and selling the recycled materials directly to smelters overseas, the joint venture plans to increase its profitability significantly.
Urban mining is key to GTSO's plans to compete alongside major international corporations striving for sustainable waste solutions, such as Industrial Services of America (NAS: IDSA) and Sims Metal Management Ltd. (NYS: 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. [www.gtsoresources.com] is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit the website at www.GTSOresources.com/investors.html.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Green Technology Solutions, Inc.
Paul Watson, 408-432-7285
President and CEO
KEYWORDS: United States North America South America Chile California
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