Greentech Lead America: Green Technology Solutions, a company specializing in extracting rare earth metals from e-wastes, and its recently formed partner Chilerecicla are identifying new recycling opportunities in Latin American market.
The companies are in talks with local businesses and people who are keen to be part of the company’s expansion plans. Both companies also announced plans to expand their business to the United States.
Latin America is an emerging market in the booming global e-waste recycling and reuse services industry, which Transparency Market Research predicts accounted for more than $9 billion in 2012. The firm expects the worldwide e-waste market to reach $18 billion in 2017, growing at a compound annual growth rate of 13.2 percent from 2012 to 2017.
Santiago-based Chilerecicla is one of the region’s top e-waste recyclers. Spreading the company’s recycling business model to Chile’s neighbors, including Panama, El Salvador, Costa Rica and others, will be the joint venture’s top priority.
With the help of their South American consultants, CCI Capital SpA, GTSO and Chilerecicla aim to align regional recyclers with local smelters to streamline and simplify the process of reclaiming valuable materials from electronic waste in some of the world’s fastest growing economies.
“Currently, we’re putting together comprehensive data on the recycling operations and e-waste mineral content of a number of nations and municipalities in Latin America for comparison,” said GTSO CEO Paul Watson. “Once we’ve identified our best opportunities in the region, we’ll proceed with negotiations.”
E-waste recycling, or urban mining, is a major pillar of GTSO’s plans to compete alongside major international corporations striving for sustainable manufacturing solutions, such as Sprint Nextel Corp and Toyota Motor Corporation.
Late last year, GTSO acquired the company Green Urban Mining to handle the company’s US recycling and resale operations.