SOURCE: Endeavor Power Corp.

December 10, 2010 09:52 ET

Endeavor Power Corp. Appoints Alfonso Knoll to CEO Position and Details Plans for Precious Metal Recovery Division

ROBESONIA, PA--(Marketwire - December 10, 2010) - Endeavor Power Corp. (OTCBB: EDVP), an emerging leader in electronic asset recovery and e-waste recycling, announces today that the Company has named a new executive to its management team. Alfonso C. Knoll has been appointed CEO and is charged with launching Endeavor's recycling operations coast-to-coast as well as overseeing day-to-day operations.

Mr. Knoll, 35, previously served as the managing partner and founder of Terra Silex Holdings, LLC, a private venture capital company. He is experienced in managing millions of dollars for capital investment in high-risk microcap companies and has served as CEO and Director of numerous public companies. He is a graduate of Wesley College and attended Franklin and Marshall College and Weidner University School of Law.

With established relationships with computer and electronic retail chain recycling firms already in place, Endeavor is expanding its acceptance of end-of-life electronics from customers throughout the country. The Company is recovering value through the resale or recycling of computers, cell phones and monitors as well as other electronics using environmentally friendly methods. 

"It's amazing that we took this long to realize that obsolete electronics could and should be recycled," according to Knoll. "Most people don't realize that in 2008 we generated 3.16 million tons of e-waste in the U.S. and only 430,000 tons, or 13.6%, was recycled." Twenty to fifty million metric tons of e-waste is disposed of worldwide each year, according to the EPA.

Knoll believes Endeavor's recycling initiatives will be good for the environment as well as for shareholders. "We are filling up the landfills with obsolete and unwanted electronics at a massive pace -- as much as 2.5 million tons a year," says Knoll. "Recycling puts that material back into good use and keeps toxic substances found in electronics from leaching into the ground." Computers, mobile phones, monitors and other electronics are known to contain lead, mercury, cadmium and other dangerous substances.

Knoll continued, "A U.S. Geological Survey fact sheet shows us that one metric ton of electronic scrap from personal computers contains more gold than that recovered from 17 tons of gold ore. Current gold and silver prices make recycling those precious metals not only possible, but profitable too." In addition to gold, valuable amounts of silver and copper can also be found in electronics.

"In a fragmented market crowded with small operations without the ability to take advantage of new recycling technology, our goal at Endeavor is to become a trusted and respected leader," said Knoll. "Endeavor will strive to become a top-tier, end-to-end e-waste management solution. All equipment that cannot be reused will be completely recycled in accordance with stringent environmental standards here in North America. Twenty three states have already enacted
e-waste recycling laws with more expected to follow."

Endeavor is also anticipating the ability to purchase hard assets to further mechanize the recycling process as well as other equipment necessary for the tear down and gathering of recyclable components. The Company plans to aggressively expand regionally and eventually vertically integrate into the market of refining the raw materials and precious metals garnered from recycling operations.

Knoll said the Company plans to further develop an asset recovery department which will directly purchase other businesses' surplus or outdated equipment. Locating buyers for company equipment, negotiating prices and liquidation of the equipment will also be part of Endeavor's recovery services.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

Contact Information

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