SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions, Inc. (OTCBB: GTSO), an environmentally conscious company with an ongoing interest in delivering “green friendly” solutions to a global market, today finalized a joint venture agreement with Chilerecicla to purchase and export e-waste.
The agreement with Chilerecicla, a premier Chile-based e-waste exporter, allows GTSO to work toward the development of an international waste management collection, processing and sales operation. In addition, GTSO will oversee the development of projects to acquire primarily electronics and plastic waste for the purpose of selling minerals, metals and plastics for reuse.
According to terms of the joint venture agreement, Chilerecicla will purchase and export e-waste from Latin American suppliers to two of the world’s most prolific smelters in Belgium and Japan.
GTSO and Chilerecicla recently worked together on a spot transaction in which Chilerecicla sent e-waste collected from suppliers in Bolivia and Chile to European smelters. Return on investment from that transaction was approximately 40 percent.
“We have been working with Chilerecicla and are confident this agreement will be very lucrative for both sides,” GTSO CEO Paul Watson said. “The e-waste market is projected to reach $21 billion by 2020. This partnership enables us to potentially take a big share of those profits.”
Urban mining is pivotal to GTSO’s vision to compete alongside major international corporations striving for sustainable waste solutions, such as Covanta Holding Corporation (NYSE: CVA), Industrial Services of America (NASDAQ: IDSA) and Sims Metal Management Ltd. (NYSE: 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.
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