Green Energy Renewable Solutions Enters Joint Venture Agreement With ECycling USA
LAS VEGAS, Oct. 10, 2012 /PRNewswire/ -- Green Energy Renewable Solutions, Inc. (OTCBB: EWRL) is pleased to announce it has entered into a joint venture with eCycling USA, LLC ( www.eCyclingUSA.com) to expand its Construction & Demolition Debris (C&D) deconstruction plans to include electronic and whiteware waste using proprietary systems developed by Adelmann Umwelt GmbH of Germany. eCycling USA is partnered with Adelman to implement 100 electronic waste (e-waste) demanufacturing and materials reclamation sites across the US. Adelman currently has 60 plants operating throughout Europe.
Worldwide revenues from e-waste recovery were reported to be $8.5 billion in 2009 and are expected to grow to $13 billion by 2014. Currently, 3 million tons of e-waste is produced annually in the USA. Less than 20% of this amount is recycled and the annual amount will exceed 10 million tons by 2017. A 2009 survey printed in the Journal of Environmental Management states that 747 million electronic items are stockpiled by US households or more than 4 times as much as official US Environmental Protection Agency (EPA) estimates. The EPA reports that 2.25 million tons of TV's, cell phones and computer products ready for end-of-life management, 18% was collected for recycling and 82% was disposed of in landfills or sent overseas for aftermarket applications. Almost 90% of the exported US e-waste is to China, Nigeria, and India. The US federal government is beginning to restrict e-waste exports and state governments are limiting e-waste in landfills. While US recyclers have begun the task of managing e-waste, it could take 40 to 50 years to recycle at current rates of recycling. Of the 3,321 US recycling companies only 78 provide some form of shredding, and none can process both e-waste and whiteware (e.g., refrigerators) feedstock at the rates that the eCycling USA/ Adelmann system can, as well as segregateing the raw materials for sale in commodities markets. 99% of the feedstock is processed in an extremely environmentally-friendly manner that eliminates pollutants from entering the atmosphere or ground either at the site or in landfills.
The Green Energy/eCycling USA site in Detroit is planned to be the model for planned US expansions. In addition, the CEO of eCycling USA, Chuck Vollmer, is the founder of the Jobenomics national grassroots movement ( www.Jobenomics.com). Jobenomics plans to create thousands of new Detroit small businesses related to Green Energy/eCycling USA operations.
The addition of Chuck Vollmer to our team brings tremendous insight into the emerging opportunities for materials recovery and provides access to leading technologies and financial strength. Chuck has 30 years of international strategic planning, systems engineering and investment capital experience specializing in emerging government and business initiatives. He was an executive in a premier international consulting firm, an executive in the world's second largest aerospace firm, as well as a highly decorated fighter pilot. Over his career, Chuck has started hundreds of new businesses from major multi-billion dollar organizations to small businesses.About Green Energy Renewable Solutions, Inc.Green Energy Renewable Solutions is a developer and operator of municipal solid waste and construction and demolition waste deconstruction and recycling facilities. The Company operates with long-term supply agreements to process waste materials into valuable recyclables and reduce waste volume going into landfills by up to 85%. Green Energy Renewable Solutions has developed a strategic plan to create sustainable renewable energy with waste-to-energy power plants fueled by waste derived fuels. This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. SOURCE Green Energy Renewable Solutions, Inc.
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