SOURCE: E-Waste Systems, Inc.

March 13, 2014 08:15 ET

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

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