New federal legislation introduced this week to promote domestic e-waste recycling could help Green Technology Solutions (OTCBB: GTSO) take the next step in its ambitious expansion efforts into the billion-dollar urban mining industry.
On Wednesday, the Responsible Electronics Recycling Act (RERA) was introduced to Congress by U.S. Rep. Gene Green and Rep. Mike Thompson with bipartisan support. The bill would prohibit the export of some electronics whose improper disposal may create environmental, health and national security risks, helping domestic recyclers to compete with overseas facilities with few, if any, environmental and labor standards.
RERA could prove to be a gold mine for recyclers like GTSO, and the company is working to develop new solutions to turn that trash into treasure. Current recycling processes waste too many dollars and resources to be profitable. New technology promises to change that, which is why GTSO is pursuing new innovations geared towards efficient collection and separation of these valuable resources.
The plan could soon prove to be highly lucrative. According to the EPA, every one million cell phones recycled, 75 pounds of gold, 772 pounds of silver, 33 pounds of palladium and more than 35,000 pounds of copper can be recovered.
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). Late last year, GTSO acquired the company Global Cell Buyers and soon after rebranded the company as Green Urban Mining to handle its domestic recycling and resale operations.
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.
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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