GTSO and Chilerecicla Plan Expansion into Booming South American E-Waste Market
April 3, 2013 (Source: Business Wire) San Jose, CA — As Green Technology Solutions, Inc. (OTCBB: GTSO) and Chilean recycler Chilerecicla move forward with due diligence toward a potential partnership, discussions have turned to synergistic opportunities in the expansion of e-waste collection operations outside of Chile.
Efforts to replicate Chilerecicla’s success in neighboring Latin American nations would be an ambitious project for both companies. The potential partnership would allow GTSO to help fund the expansion of Chilerecicla’s e-waste recycling business in exchange for hands-on experience establishing the necessary facilities and processes that could be then be transferred to operations planned for the U.S.
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“As Chilerecicla’s success shows, South America is ripe with market potential for these kinds of urban mining operations,” said GTSO CEO Paul Watson. “In order to capture a piece of this emerging market, expansion outside of Chile is a natural next step for their company. It would also provide a tremendously valuable opportunity for GTSO to learn all there is to know about setting up profitable and productive recycling centers and collection services that we can apply to our plans for the North American market.”
Founded in 2009, Chilerecicla opened the first e-waste recycling plant in Southern Chile. The company 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.
Last month, GTSO signed a letter of intent with Chilerecicla as a first step toward expanding its recycling footprint into the booming Latin American market. 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 (NASDAQ: IDSA) and Sims Metal Management Ltd. (NYSE: SMS). Green Technology Solutions, Inc.is a growth-oriented company exploring rare earth minerals and precious metals production around the world.
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