SOURCE: E-Waste Systems, Inc.
SICHUAN, CHINA, LONDON, UNITED KINGDOM--(Marketwired - Mar 11, 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, entered into a Strategic Engineering Agreement with Loyalty Equipment Making (LE), one of China's largest electronics recyclers and technology leaders.
"This is a multi-faceted deal that enhances the eWaste Systems' strategy in several key ways," said Martin Nielson, Founder and CEO of E-Waste Systems, Inc. "The transactions includes access to all of Loyalty's technologies and agreements for joint branding initiatives nationally and internationally raising our standing in the industry and establishing EWSI as the industry's largest globally integrated e-waste recycling brand. It will propel our physical presence across the globe, starting in the world's most valuable e-waste marketplace."
Loyalty is both an electronics recycler and a high-end manufacturer of processing equipment. Under the agreement, international orders for Loyalty-manufactured equipment will be sold under the eWaste Systems brand and implementations will be overseen by the Loyalty team. All sales into China will be co-branded to develop the eWaste and Loyalty market positions. "When we first started touring Loyalty's facilities last fall, we saw a level of sophistication that was perfect for our internal and external strategies," commented Dan Feeney, Sr. Vice President and Director of the eManagement Division. "Through this partnership we have a clear path to further develop and implement our ePlant1000 technology around the world using only the most advanced processes and technologies. The ePlant1000 Series is creating a newer, higher standard for an industry that will witness tremendous advancements in the implementation of next generation automation"
Loyalty specializes in producing ultramodern electronic recycling equipment, including a full line of CRT dissemblers and processors, a PCB recycling system, refrigerator recovery units, air conditioner and washer dissemblers, processing for other office equipment, and more1. To oversee the integration into the EWSI brand and to lead efforts in international expansion, Dan Feeney will take an operational post in the city of Shanghai. "Dan has been critical in the development of this agreement, and with his acute business acumen and vision, we are happy to have him lead the deployment of this incredible opportunity," added Mr. Nielson.
"Loyalty has the largest market-share inside China, and they are one (1) of only sixty-six (66) e-waste recyclers licensed by the Chinese government," added Mr. Feeney. Pengzhou City is a northern suburb of Chengdu Sichuan Province and currently houses Loyalty Equipment Making headquarters and the region is slated to include a state-of-the-art showcase recycling facility.
"Martin, Dan, and the eWaste Systems team are pioneers in global integration for ewaste recycling," said Mr. Jason Hu, Executive President of Loyalty. "The industry as a whole is suffering from growing pains tied to severe fragmentation, and the timing is right for a leader with visions of a complete global integration to step in and join together a network of the best technologies and best practices. With what we have at our disposal, there is no reason why together, we cannot correct these challenges swiftly and effectively. This merging of our engineering expertise, technologies, and business portfolios creates a win-win-win situation, and we at Loyalty are excited to be part of the team that is on course to redefining the entire industry."
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, Twitter (@ewastesystemsin), and Linkedin. Or contact: Shareholder Relations at: email@example.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.
The e-waste and reverse logistics market has become a $100B+ annual business (Source: Blumberg Associates), excluding much of the resale of still usable goods that flood the marketplace as new updates in software and hardware are released. Furthermore, as environmental legislation and policies sets more stringent requirements for the disposal of these items, many analysts and practitioners expect e-waste to grow faster than any other waste stream over the next 5 years. The benefits of e-waste management and recycling are many, including conservation of natural resources, creation of new jobs, prevention of environmental contamination by toxic chemicals, and reduction of energy requirements.
Approximately 65 million tons of global e-waste generation is expected annually by 2017 with strong continual growth2. 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, many of which will have a shelf-life of only 1-3 years3 steering us in the right direction, so we are thrilled to continue contributing our expertise and networking to this exceptional organization."
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 Environmental Equipment. Retrieved from: http://www.lemakingsc.cn/en-eg/ep.php?ac=12
2 Used Electronics Don't Die. Retrieved from: http://www.ibtimes.com/used-electronics-dont-die-new-e-waste-world-map-reveals-worldwide-toll-discarded-electronics-1509578
3 U-Step, interactive e-waste map, China. Retrieved from: http://step-initiative.org/index.php/Overview_China.html