E-Waste Systems (EWSI) has formed a joint venture with Aruls Environmental and Green Ozone (AEGOPL) to expand electronic waste recycling operations in North America, India and South East Asia.
The London-based EWSI has signed an agreement with this Indian firm to develop reverse logistic operations.
According to the agreement, an initial investment of $750,000 by AEGOPL will be done followed by a $1.75 million infusion.
EWSI will be responsible for developing e-waste projects and expanding operation in the New York.
The joint venture has plans to acquire a public company to establish a functional presence for AEGOPL in the U.S. and to establish recycling operations in India and elsewhere.
EWSI will hold a minority stake in the company.
An investment of $1.75 million for both New York e-waste facility expansion and the acquisition of new capital equipment are estimated.
In addition, the firms will establish a regional and national e-waste recycling and environmental business in India.
In 2011, around 41.5 million tons of electronic waste was generated, which is expected to hit 93.5 million by 2016. Right now, 70 to 80 percent of them end up in landfills.
A majority of electronics companies have introduced green initiatives such as powering retail stores and data centers with renewable energy, developing efficient packaging design and designing products that use less power than older versions.
The NYS Electronic Equipment Recycling and Reuse Act require manufacturers to provide free and convenient recycling of electronic waste to most consumers in the state.
For Asian countries, the amount of e-waste is increasing due to growing economy and increased demand of electronic devices especially in India and China.
Around 70 percent of global e-waste ends up in China, imparting challenges of environmental damage and health problems related to the e-waste issues.
Sabeena Wahid
editor@greentechlead.com