“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,'” said Martin Nielson , CEO of eWaste.
E-Waste Systems signs $800,000 investment deal for China
eWaste’s recently announced licensing and investment deal with Tanke valued at 800,000, plus royalties and a minimum $5,000,000 sales commitment from them, will operate from Shanghai, Nielson added.
China Daily recently reported 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.
The strategy includes plans to 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.
In 2011, some 162 million tons of e-waste, including nonferrous metals and electronics, was recycled in China, double the amount in 2005. The total value of these recycled products was 571.5 billion Yuan ($91.8 billion), up by 12.7 percent compared with 2010, according to Gao Yanli, secretary-general of the CRRA, the People’s Daily reported.
To accelerate the presence in the region and encourage growth, the company will immediately begin to develop their eWaste brand, support their license partners and introduce their certified services and technology to customers and trading partners in the region, Nielson added.
The emerging industry of e-waste and reverse logistics has become a $100 billion business according to Blumberg Associates. However, many of the primitive electronic waste operations in China are toxic and antiquated.
Coastal areas in East China have become the world’s main center for treatment of e-waste. By 2020, 70 percent of the 500 million tons of e-waste processed globally every year will be processed in China, according to Communications Information News.
The Company sees this as a prime opportunity to engage with partners and investors to introduce modern, landfill-free engineering to recycling operations in China.