SAN JOSE, Calif.--(BUSINESS WIRE)--As demand for valuable manufacturing metals such as gold, palladium and rare earths continue to rise, Green Technology Solutions, Inc. (OTCBB: GTSO) has big plans for its latest acquisition, Global Cell Buyers (GCB).
Only a week after the e-waste recycler was purchased by GTSO’s mining subsidiary, GTSO Resources, the company announced the start of a new initiative today to rebrand GCB and greatly expand its services.
“While cell phones remain the most profitable electronic waste stream, the name ‘Global Cell Buyer’ is far too limited to apply to today’s rapidly growing urban mining marketplace,” said CEO Paul Watson. “The obsolescence rate of tablets, laptops, MP3 players and other electronic devices are rapidly approaching that of smartphones, which are replaced after an average of 18 months. Global Cell Buyers must be equipped to handle all of these streams in addition to phones.”
As the popularity of high-tech gadgets and computers booms in developing markets such as India and China, global demand for scarce elements like gold and tungsten has exploded beyond what traditional mining efforts can supply. The solution to the world’s ever-increasing appetite for minerals lies in recycling electronic devices that are unused and unwanted, in conjunction with traditional mining methods.
Urban mining is a major pillar of GTSO’s plans to compete alongside major international corporations striving for green business solutions, such as ABB Limited (NYSE: ABB), Waste Management (NYSE: WM), and Toyota Motor Corporation (NYSE: TM). The company is also exploring traditional mining opportunities in the U.S. and Africa through its joint venture with Diamond V Associates.
For more information on these initiatives, please visit www.GTSOResources.com/investors.html.
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 our website at www.GTSOresources.com/investors.html.
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