GTSO and Partners Prepare for Bolivian Expansion
SAN JOSE, Calif.--(BUSINESS WIRE)-- In a major push to collect and resell rare earths-rich e-waste in the booming Latin American market, Green Technology Solutions, Inc. (OTCBB: GTSO) and its partner, Chilerecicla, are preparing to expand recycling operations into Bolivia.
One of South America's top recyclers of e-waste, 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 a feasibility study on the region now complete, the joint venture has targeted Bolivia as an ideal territory for growth.
"Our partner has already signed an agreement with one of Bolivia's largest e-waste operators and the initial purchases of raw e-waste materials are expected to begin this week," said GTSO CEO Paul Watson. "This is a big step forward in our ambitious plans to apply this successful business model in growing markets, with the U.S. being our No. 1 target."
The United States is the world's largest producer of e-waste, and GTSO expects to apply expertise gained in Chilerecicla's Bolivian expansion to make a big splash in the largely underexploited U.S. e-waste recycling sector. The Responsible Electronics Recycling Act (RERA) introduced into Congress late last month could prove to be a gold mine for recyclers like GTSO, with new technologies making recycling more efficient—and potentially, more profitable—than ever before.
E-waste recycling 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 Bolivia North America South America Chile California
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