E-Waste Systems Inc. Announces Partnership With Green Initiatives
to Build Non-Profit e-Waste Recycling Program in Shanghai
EWSI and Green Initiatives Join Forces to Build City-Wide
e-Waste Reverse Logistics Channel in Shanghai
SHANGHAI, CHINA and LONDON, UNITED KINGDOM--(Marketwired - Mar
13, 2014) - E-Waste Systems, Inc. (OTCQB: EWSI) ("EWSI," "eWaste
Systems," or the "Company"), an electronic waste management,
reverse logistics, environmentally focused services and technology
company and the first pure play public e-waste operator, announced
today its partnership with Green Initiatives for the first
city-wide non-profit ewaste recycling program in Shanghai,
China.
"Partnering with Green Initiatives to open mass distribution
channels for e-waste downstream is a great addition to the
infrastructure we are developing in China," said Martin Nielson,
Founder and CEO of eWaste Systems. "The initial challenge of
recycling e-waste is to obtain -- and then maintain -- a steady
flow of feedstock. This partnership enables EWSI to direct the
e-waste stream of one of the world's largest cities to our
designated EWSI affiliates / and we are doing this under the eWaste
brand."
The final destination of approximately 70% of the world's annual
500 million tons of electronic waste, or e-waste, is China. The
majority of e-waste import activities are based in and around
China's main ports. According to official statistics, more than 40
million tons of this solid waste was imported in 2010, with an
industrial output value of around $23.7 billion.1 In 2010 the
e-waste recycling and reuse services market value totaled close to
$6.8 billion, up from $6.2 billion in 2009. Industry growth is
expected to continue on its uphill path at least through the next
decade, with collection services alone more than tripling by 2020.
In 2010, China is estimated to retain the largest market share, in
terms of value, with approximate share of 23.7%.2
"With the help of Green Initiatives, we will soon have e-waste
drop boxes installed strategically throughout Shanghai, and with
their campaigning efforts, public awareness of the issue will
undoubtedly add significant value to our collection streams. It is
a natural first step to do this in Shanghai, but we do not intend
to stop there. Once we have this process solidified, we will start
rolling it out to other key cities in China" said Mr. Dan Feeney,
Senior Vice President of EWSI and head of eManagement. Along with
Mr. Feeney, the program was assembled by Mr. Lv, head of eWaste
System's Shanghai business unit, eBao, and Mr. Nick Lim, Managing
Director of Green Initiatives.
"We have been working to implement an electronic waste recycling
project in Shanghai for some time and were really excited when we
learned that E-Waste Systems had decided to enter China," said Mr.
Lim. "One of the biggest challenges we encounter with electronic
waste recycling here in China is that it is very difficult to know
where the waste will end up and if it will be recycled in
accordance with acceptable environmental standards. EWSI provides
leading recycling technology and know-how across a broad range of
waste materials as well as a transparent process -- all of which
are crucial for us to know that we are fulfilling our objectives
responsibly, instead of just moving toxic waste from one location
to another."
Green Initiatives is a non-profit organization, focused on
implementing behavioral changes in society that lead to
sustainability, with a heavy emphasis on proper disposal and reuse
programs for e-waste. As part of the campaign, Green Initiatives
will design a series of drop boxes to be placed in strategic
locations for the collection of used electronics. This will work
with Mr. Lv's network of business contacts throughout the city in
which EWSI, under his direction, will coordinate the take-back of
the electronic and other assets, and placing them with EWSI
approved downstream recycling partners for appropriate
processing.
"Over time, our partners will have their operations upgraded by
eWaste systems to create more value in their efforts," added Mr.
Feeney. "We will also be implementing a refurbishment, data
destruction, and resell opportunity, so still-usable, secondhand
electronics can be sold back into the Shanghai marketplace. Mr. Lv
and his team are focused on improving environmental conditions, and
engaging in long-lasting, mutually beneficial business ventures.
Truly, this is a win for all involved and the world around us."
Mr. Lv joined eWaste Systems in 2013 through the formation of
the EWSI eBao Division, EWSI's Shanghai business unit. His primary
responsibility is to strengthen his organizations' environmental
friendliness, increase use of modern best practices in business
management, and gain exposure to the e-waste marketplace. "For
EWSI, the relationship has generated countless opportunities for
growth, many of which have ultimately resulted in our greatest
achievements in China to date," added Mr. Nielson. "With Green
Initiatives working together with the EBao division of eWaste
Systems, we are opening the doors to total societal integration of
e-waste recycling in China, where the reality of the e-waste
epidemic is impossible to ignore."
Mr. Feeney officially announced the partnership at the end of a
presentation discussing the world calamities associated with
e-waste at this year's Green Initiatives conference. "The reception
and support we continue to receive in China are very encouraging,"
said Mr. Feeney. "Right now, thanks to this growing coordinated
effort, we are taking large strides in our race toward total
sustainability." In 2012, China alone generated 7.25 million metric
tons (equivalent to slightly less than 8 million U.S. tons) of
e-waste, and introduced over 11 million metric tons of new
electronics into the marketplace, more than any other country in
the world3.
About E-Waste Systems, Inc.
E-Waste Systems, Inc. is the first pure play public company in
the emerging waste electrical and electronics equipment ("WEEE")
industry. EWSI targets companies facing regulatory or other
mandates for handling e-waste. EWSI operates and assists its large
geographical network of affiliates, applying best practices in
professional management, offering state-of-the-art engineering, and
providing a truly global e-waste solution. Additional information,
including the business plan summary, pictures and descriptions of
the facilities, staff, and overall progress of the Company is
available on the official website and social media sites:
www.ewastesystems.com,
Facebook (www.facebook.com/ewastesystems), Twitter
(@ewastesystemsin), and
LinkedIn (www.linkedin.com/company/e-waste-systems-inc-?trk=company_name).
Or contact: Shareholder Relations at: rshaw@ewastesystems.com and
800.994.0691.
EWSI brings technology, including its proprietary ePlant1000™,
eWasteCC™ carbon credit and eWasteTRACK™ solutions, its proprietary
sorting technologies currently under development through
US-partner, NRT, certifications from R2 and eStewards, regulatory
and industry knowledge and experience, and management services to
its subsidiaries, affiliates, brand licensees, and teaming partners
around the world, as part of its strategy to extend the presence
and global influence of the Company's branded services and
technologies.
About Green Initiatives
Green Initiatives is a nonprofit organization that promotes
awareness, facilitates actions, implements projects, and stimulates
change, towards sustainable models of growth and consumption. The
organization started in Shanghai in 2009 as part of the global
Green Drinks network that now has chapters and affiliates in 9
cities across China. Green Initiatives actively partners with local
communities, schools, businesses and local governments to highlight
environmental issues as well as to identify and implement effective
solutions to these issues.
Safe Harbor Statement: Certain statements and information
included in this release may constitute "forward-looking
statements" as defined in the Federal Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the company to
be materially different from any future results, performance or
achievements expressed or implied in such statements. Additional
discussion of factors that could cause actual results to differ
materially from management's projections, estimates and
expectations is contained in the Company's SEC filings. The Company
assumes no obligation to update any forward-looking statements as a
result of new information, future events or developments, except as
required by federal securities laws.
1 70% of annual global e-waste dumped in China retrieved from :
http://www.china.org.cn/environment/2012-05/24/content_25461996.htm
2 E-Waste Recycling and Reuse Services Worldwide retrieved from:
http://www.marketresearch.com/SBI-v775/Waste-Recycling-Reuse-Services-Worldwide-6459621/
3 U-Step, interactive e-waste map, China. Retrieved from:
http://step-initiative.org/index.php/Overview_China.html
Contact: E-Waste Systems, Inc. Shareholder Relations
rshaw@ewastesystems.com 800.994.0691