LONDON, Feb. 14, 2013 /PRNewswire/ -- E-Waste Systems, Inc. (OTCQB: EWSI) (the "Company" or "eWaste"), an electronic waste management and reverse logistics company, announced today that it has opened its first China office in Shanghai. The new office for eWaste will be in the Golden Finance Tower, in the historic Bund district of Shanghai.
"Following our recent agreement to enter the China market through a Master License and corresponding investment, the Company is acting aggressively in pursuit of this market and to establish itself as the first eWaste pure play brand to enter China with the slogan 'eWaste NO LANDFILL,'" says Martin Nielson, CEO of eWaste.
Mr. Nielson adds, "Our staff and partners immediately started work even during the nationally celebrated Chinese New Year holidays. We are seizing the opportunity without excuses. The recently announced licensing and investment deal with Tanke, Inc. valued at 800,000, plus royalties and a minimum $5,000,000 sales commitment from them will operate from Shanghai and this office will manage the implementation of the new China penetration strategy".
According to an article of February 10, 2013 in China Daily, the Chinese government will boost the annual output value of its resource recycling industry to 1.8 trillion Yuan ( 287 billion US dollars) by 2015 as part of the country's bid to develop a circular economy. Major tasks listed in the plan include building nationwide industrial and agricultural systems that are cleaner and allow more recycling of renewable resources and promoting green consumption. The trend and statistics are also supported by the China Greentech Initiative 2012 report."The heightened attention of the government serves to confirm that the timing for our entry to China is correct. And now, having a presence in the Bund district of Shanghai will help accelerate our on-the ground presence and encourage our growth," said Martin Nielson. "We will immediately begin to develop our eWaste brand, support our license partners and introduce our certified services and technology to customers and trading partners in the region," stated Mr. Nielson.