LONDON, UNITED KINGDOM -- (Marketwired) -- 09/10/13 -- E-Waste Systems, Inc. (OTCQB: EWSI) ('EWSI' or the "Company"), an electronic waste management services, technology and reverse logistics company and the first public pure eWaste company, announced today that it has signed a strategic investment agreement with GoEz Deals Inc. ("GoEz")
In early August, EWSI announced the strategic E-Commerce and technology partnership with GoEz that is expected to add more than $3 million to EWSI's 2013 revenues. "This strategic agreement will result in EWSI's ability to tap into additional E-Commerce revenues and more," said Mr. Martin Nielson, Founder and CEO of EWSI.
GoEz platform allows EWSI immediate access into the high growth E-Commerce marketplace for reuse and recycling of electronics. GoEz has over 600 affiliated agency partners and it has experienced impressive revenue growth to around $2 million per quarter. Using its E-Commerce website, GoEz is striving to become a major player in the industry where it can compete with industry leaders such as Groupon and Living Social.
"This strategic investment in GoEz will allow EWSI to further participate in the expansion of their business including the strong possibility of an initial public offering of GoEz in the not too distant future. It also allows us to accelerate our e-waste and end-of-life electronics platform by harvesting the relationships with GoEz affiliates to promote our eWaste services, to resell still usable electronics, and to secure opportunities for more consumer-based streams of eWaste," added Mr. Nielson.
"This strategic investment is one of the key initiatives we are launching with Ed Torres and his team in order to accelerate our activities in the E-Commerce segment. I recognize in Ed Torres the mark of an executive and entrepreneur with exceptional performance as demonstrated by GoEz's growth rate. We are just at the beginning of this relationship and have very high expectations," added Mr. Nielson.
Ed Torres, Founder and CEO of Go EZ Deals Inc., and formerly with Procter & Gamble, stated, "With our EWSI strategic relationship and now this investment we can begin planning a broader geographical penetration to accelerate our plans -- a 'win-win' for both EWSI and GoEz. Our closer collaboration with EWSI is a great opportunity for Go EZ Deals to have an experienced ally in the e-waste management industry. Teaming up further with this strategic investment with EWSI is going to fuel our growth in the sales of electronic products and give added revenue streams. We are committed to promoting EWSI's recycling initiatives through our promotional platform to contribute to a greener planet."
Overall retail E-Commerce sales for the first quarter of 2013 were estimated at $1,118.9 billion, an increase of 15.2% from the first quarter of 2012 while total retail sales increased 3.7% in the same period.(1)
GoEz intends to double its presence in Metro New York by year-end 2013, and will launch similar operations in Miami and LA in 2014. GoEz also plans to introduce its own brands for household goods in 2014, as well as its own branded warehouse discount rewards card and E-Commerce credit card programs.
"We are aggressively moving into this market and with great confidence in the GoEz Deal growth opportunity. This exemplifies our enthusiasm for investing our technology and resources on market place consumers," said Mr. Nielson.
The investment will be completed with a mixture of preferred shares, cash and common stock. The details of the agreement will be filed with the SEC on an 8K.
For more information as it happens, follow @EWasteSystemsIn on Twitter and Facebook and on the company's blog at www.ewastesystems.blogspot.com
Or contact: Investor Relations at: email@example.com
(1) Census Bureau of the Department of Commerce:
The e-waste and reverse logistics market has become a $100B+ annual business (Source: Blumberg Associates(1)), excluding much of the resale of still usable goods that flood the marketplace as new updates in software and hardware are released. Furthermore, as environmental legislation and policies sets more stringent requirements for the disposal of these items, many analysts and practitioners expect e-waste to grow faster than any other waste stream over the next 5 years. The benefits of e-waste management and recycling are many, including conservation of natural resources, creation of new jobs, prevention of environmental contamination by toxic chemicals, and reduction of energy requirements.
About E-Waste Systems, Inc.
E-Waste Systems, Inc. is the sole pure play public company in the emerging waste electrical and electronics equipment ("WEEE") industry. EWSI targets companies facing regulatory or other mandates for handling e-waste. EWSI operates and assists its large geographical network of affiliates, applying best practices in professional management, offering state-of-the-art engineering, providing a true global e-waste solution. Additional information, including the business plan summary, is available on the Company's website, www.ewastesystems.com.
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
E-Waste Systems, Inc.
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