ST. LOUIS, MO--(Marketwired - Apr 28, 2014) - Tanke, Incorporated (OTC Pink: TNKE) (PINKSHEETS: TNKE) a diversified holding company focused on emerging technologies and "cleantech" is pleased to announced today signing of $30 million contract in the fast growing e-Waste industry.
Over 65 million tons of annual global e-waste is forecasted to be generated by 2017 with strong and continuous growth. Across the world, e-waste is already the fastest growing of all waste streams. In 2012, the most recent year for which reliable data exists, China alone generated 7.25 million metric tons of e-waste, which is 2nd only to the United States at 9.4 million tons. 1
Under this contract, Tanke will provide management under the eManagement brand, and in partnership with E-Waste Systems Inc., bring state-of-the-art technologies and processes for the proper handling of electronics recycling, and electronic waste materials recovery and reuse on a global scale.
"Tanke was instrumental to helping us launch our China business last year and with their business network we are now dramatically expanding our joint commitment to the E-Waste strategy for this new year," said Martin Nielson, Founder and CEO of E-Waste Systems, Inc. Recently, Tanke announced a new investment in the amount of $2.3 million in the E-Waste Industry. The initial value of the deal is worth $800,000, plus royalties and a minimum $5,000,000 sales commitment that were fulfilled in record time.
By 2020, e-waste in China is expected to jump by 400% from 2007, while discarded mobile phones will be 7 times higher (UNEP). Profits for the emerging e-waste industry in China are forecasted to rise by over 300% reaching $10 Billion by 2017.
"We are very pleased with this contract. China being one of the fastest growing e-waste recycling and logistics markets in the world warrants our continued effort and focus. The results currently being yielded from our entry into China last year in E-Waste, has proven immensely lucrative. We are committed to support sustaining this momentum in E-Waste working closely with our partners," said Xiaoying Zhang, CEO of Tanke.
Additional information is available on the Company's website: www.tankeinc.com or contact Investor Relations at: IR@tankeinc.com
About Tanke Incorporated
Tanke is a diversified holding company with the mission to develop, manage and finance emerging companies in high growth industries. Tanke is focused in the development of environmental technologies and "Cleantech" for a wide range of markets such as commercial, industrial and municipal applications. Tanke believes that globalization and the emergence of Asia stresses natural resources, water, energy and food, and environmental technologies will be at the forefront of the new paradigm shift in usage of resources. Through its subsidiaries and affiliates in the world and with its deep experience in China -- the fastest growing emerging market in the world, Tanke seeks to grow through acquisitions, organic growth in the USA and also in the emerging markets. Our holdings consist of: Environmental & Water technologies, eWaste and reverse logistics technologies, and The Triple R Water recycling technology under the Re:Water™ brand.
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 disclosures. 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.