GTSO, Partner Working to Capture Share of Multi-Billion Dollar Market
GTSO, Partner Working to Capture Share of Multi-Billion Dollar Market
SAN JOSE, Calif.--(BUSINESS WIRE)-- A key joint venture partner of Green Technology Solutions, Inc. (OTCBB: GTSO) is moving forward with the purchase of raw materials to be exported to Europe as it continues pursuing a share of the surging urban mining market that is projected to approach $25 billion over the next five years.
Chilerecicla, a Chile-based e-waste exporter that specializes in the direct removal of electronic waste from clients' offices facilities for transport to its central plant as well as the sale of reusable materials, is investing in products sourced through Chile and Bolivia depending on grade. Those materials will then be shipped to Belgian smelting company Umicore, which is dispatching key executives to Chile this week for an on-site visit and to prepare for shipment. The transaction marks the official launch of Chilerecicla's Latin American operations.
"Chilerecicla is ready to stake its claim as Latin America's top e-waste shipper, and we are excited about the possibilities this partnership will bring both in short-term gain and long-term return on investment," GTSO CEO Paul Watson said. "This transaction shows the commitment Chilerecicla has to GTSO and to bringing ROI to us and our investors."
Urban mining is pivotal to GTSO's vision to compete alongside major international corporations striving for sustainable waste solutions, such as Covanta Holding Corporation (NYS: CVA) , 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 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
info@gtsoresources.com
KEYWORDS: United States North America South America Chile California
INDUSTRY KEYWORDS:
The article GTSO, Partner Working to Capture Share of Multi-Billion Dollar Market originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
