|[February 20, 2013]
GTSO Supports Federal E-Waste Bill That Could Create More Than $1 Billion in New Jobs
SAN JOSE, Calif. --(Business Wire)--
Green Technology Solutions (News - Alert), 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
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
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.
Follow us on Twitter (News - Alert) at www.twitter.com/gtsoresources.
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