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.