SOURCE: Crednology Holding Corp

Crednology Holding Corp

May 03, 2017 06:30 ET

Crednology Holding Corp. Announces It's Largest E Waste Contract to Date

California Recycling, Inc. Signs New Long Term Contract with one of the Most Well Known Museum Groups in Southern California

NORTHRIDGE, CA--(Marketwired - May 3, 2017) - Crednology Holding Corp (OTC PINK: COHO)

  • Crednology Holding Corp. (OTC PINK: COHO) ("Crednology"), is pleased to announce that California Recycling, Inc., Crednology's wholly owned subsidiary, has signed a long term multi-year contract to provide electronic waste recycling for one of Los Angeles largest and well known museums. The scope of work includes the collection of Electronic waste from the Museum's waste storage facilities.

Oriel Rechtman, CEO of Crednology Holding Corp. commented,

  • "We are delighted to have won this contract against many significant competitors. According to the Museum's management team, we won the contract due to the great references we received from other clients and the State of California E-Waste overseeing board. This success bodes well for our negotiations with other museums in the area. Revenues and Earnings are anticipated to increase due to the expected success of this contract."

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 two areas of Business:

  • The cloud computing segment of the technology sector. The Company's main products and services include cloud computing and virtual environment, disaster recovery and business continuity and managed services to corporate accounts.

  • The Electronic Waste and Recycling business. 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 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 staggering pace with double digit increases anticipated annually over the next few years.

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