This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

GTSO Takes Its Urban Mining Initiatives International With Chilean LOI

As part of a dedicated effort to expand its recycling operations into the booming Latin American market, Green Technology Solutions, Inc. (OTCBB: GTSO) signed a letter of intent this week to finalize due diligence and begin negotiating deal terms with a major electronic waste recycling—or “urban mining”—company in Chile.

Chilerecicla was founded in 2009 and opened the first e-waste recycling plant in Southern Chile. Based in the city of Chillán, 400 kms south of Santiago, Chilerecicla specializes in the direct removal of electronic waste from clients’ offices facilities for transport to its central plant as well as the sale of reusable materials. From handheld mobile devices to aerospace instrumentation, the company is capable of safe removal of a wide variety of e-waste (including hazardous materials) for reuse.

“We’ve targeted Chile for investment for some time now due to the extremely favorable market conditions we’ve identified there, including strong government support,” said GTSO CEO Paul Watson. “The country has bounced back strong from the global recession, and its fledgling recycling industry is open for business. Limited access to credit has prevented any single company there from establishing a dominant market position in the urban mining sector, however.

“With funding and assistance from GTSO, we envision Chilerecicla potentially emerging as the leader of the pack in a nation where demand for e-waste recycling is growing at an unbelievable rate,” he added.

GTSO has thoroughly scouted business opportunities in Chile due in part to its high rate of industrialization and local government support. The nation enjoys easy access to cheap raw materials for processing—such as discarded mobile phones—from neighbors including Peru, Ecuador and Bolivia with few processes and regulations for e-waste management.

“Right now, much of Latin America’s hazardous e-waste ends up in the trash,” Watson said. “We’re interested in turning that trash into cash and applying this company’s best practices to our U.S. operations, as well.”

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,239.38 +82.53 0.48%
S&P 500 2,009.42 +7.85 0.39%
NASDAQ 4,584.9110 +22.7220 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs