NORTHRIDGE, CA--(Marketwired - Feb 23, 2017) - Crednology Holding Corp. (OTC PINK: COHO) ("Crednology"), is pleased to announce the signing of another new E-waste contract by California Recycling, Inc., Crednology's wholly owned subsidiary. California Recycle will provide E-Waste collection services for all the Malibu Sheriff Department's collection events for residents and businesses for the entire areas of Malibu and Lost Hills.
The first event will be held this Saturday, February 25th, 2017. The sheriff's department is heavily promoting this event with over 40,000 flyers, an online campaign, signs and other promotions activities. The Company intends to provide several trucks and crews for this first event and expects it to be very successful. The event will serve as a great promotion for the company to many of the large scale businesses in the District who we hope will take advantage of the Company's services.
Oriel Rechtman, CEO of Crednology Holding Corp., commented, "We are looking forward to this first event in partnership with the Malibu Sheriff's Department which we expect to be a huge success. We continue to negotiate new agreements and contracts that will improve Revenue and EBITDA and enhance Shareholder Value. We are proud that our services to the community are appreciated and help the environment."
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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