Green Technology Solutions, Inc. (OTCBB: GTSO) added its voice to a growing chorus of electronics recyclers this week in support of a federal bill that could add thousands of jobs to the U.S. economy.
The Responsible Electronics Recycling Act (RERA), set to be reintroduced in the current session of Congress, bans the export of certain kinds of unprocessed and non-working electronics and e-waste from the U.S. to developing nations. The new restrictions imposed by the bi-partisan bill could create up to 42,000 direct and indirect new recycling jobs in the U.S. with a total payroll in excess of $1 billion, according to a new study commissioned by the Coalition for American Electronics Recycling (CAER).
The study also forecast that the number of jobs will further increase as e-waste volumes rise in the coming years. The EPA estimates that electronic scrap is growing two to three times faster than any other portion of the waste stream.
“The enormous potential in e-waste regulation for revenue growth and job creation in the U.S. is why this bill is receiving strong support from both parties at a time when bi-partisan cooperation is almost unheard of,” said GTSO CEO Paul Watson. “E-waste recycling is a major growth industry, and we believe that passage of RERA will prove to be not only a boon for our business, but for public health, as well.”
GTSO is hard at work preparing to capitalize on the coming boom in domestic e-waste recycling. Last year, the company acquired cellphone recycler Global Cell Buyers and continues to focus on expanding its services into other electronic waste under the name Global Urban Mining (GUM).
GTSO is also close to completing a deal to capture new recycling business in South America, a growing market for e-waste recycling. The company is currently performing due diligence on a large-scale recycling operation in Chile.
Urban mining is key to GTSO’s plans to compete alongside major international corporations striving for sustainable waste solutions, such as Industrial Services of America (NASDAQ: IDSA) and Sims Metal Management Ltd. (NYSE: SMS).
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. [www.gtsoresources.com] is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit the website at www.GTSOresources.com/investors.html.
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Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Paul Watson, 408-432-7285
President and CEO
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