NORTHRIDGE, CA--(Marketwired - Feb 16, 2017) - Crednology Holding Corp. (OTC PINK: COHO) ("Crednology"), is pleased to announce that California Recycling, Inc. Crednology's wholly owned subsidiary, has entered into a new agreement with the Oak School District to provide E-Waste collection services to the district for all their collection events the District is holding for the residents and businesses of Agoura Hills, located in Los Angeles County and Thousand Oaks in Ventura County. The first event was held on February 4th, 2017 and was extremely successful with several truckloads of products collected. Hundreds of local residences unloaded many E-Waste products of excellent value to the Company. The Company anticipates that many of the larger businesses in the District will take advantage of the Company's services.
Oriel Rechtman, CEO of Crednology Holding Corp. commented, "We are really excited by the response at this first event in partnership with the Oak School District. Crednology looks forward to many more events and expects the amount of E waste collected at each event to increase as the community gets to know us. All the communities we work with love the fact that we are improving our environment by helping to keep our planet green."
Crednology's Revenue and EBITDA are growing and will continue to grow as the response to these collection events gets stronger.
About Crednology Holding Corp.
Crednology Holding Corp, a Delaware corporation, is a public holding company that has been dedicated to enhancing shareholder value through a strategic combination of organic growth, mergers and profitable acquisitions.
The Company is engaged in the cloud computing segment of the technology sector as well as the Electronic Waste and Recycling business. The main products and services include cloud computing and virtual environment, disaster recovery and business continuity and managed services to corporate accounts as well as the recycling and disposal of E-Waste and other materials.
The market for cloud computing is growing at a staggering pace. In 2015 the industry experienced a rapid growth of 33% with the segment of business reaching over $16 billion by the year end. This market trend is expected to continue with growth of approximately 30% expected annually for the next few years. E-Waste is growing at a significant pace with double digit increases anticipated annually over the next few years.
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