Despite being the world’s largest consumer market for products using lithium-ion batteries, including Apple iPhones, Google Android tablets and GM Chevy Volt electric vehicles, the U.S. is behind Europe and Asia when it comes to recycling spent batteries. GTSO plans to grow its business very rapidly by helping to change that.
With the majority of the world’s discarded lithium-ion batteries left unrecycled in landfills and utility drawers, Green Technology Solutions, Inc.believes the e-cycling (electronic recycling) industry is developing into a goldmine.
Although lithium prices have exploded as a result of skyrocketing demand from manufacturers, very few companies are set up to recycle lithium-ion batteries and other electronic goods. Only 20-40 percent of cell phone and consumer batteries are currently recycled, leaving an incredible opportunity waiting to be seized by forward-looking companies like GTSO’s mining subsidiary, GTSO Resources.
“Today, almost no one is concentrating on recycling all types of batteries, lithium chemicals, electronics, precious metals and rare earths, even though the value of these materials has increased exponentially in recent years,” said GTSO CEO Paul Watson. “A whole new urban mining economy is developing that we believe will soon be worth billions, and we’re positioning GTSO to be at the forefront of this new movement.”
The U.S. government has demonstrated a willingness to help. In 2009, the Department of Energy granted $9.5 million to a company in California that plans to build America’s first recycling facility for lithium-ion vehicle batteries.
GTSO is currently in talks with CCI Capital SpA for assistance in facilitating the development and implementation of urban mining deals in North and South America, two territories GTSO believes are rich in opportunity.
GTSO plans to service a fast-growing global appetite for rare and precious metals to compete in an exciting sector that includes International Lithium Corp. .
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. [ www.GTSOresources.com ] is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit our website at www.GTSOresources.com/investors.html .
SOURCE: Green Technology Solutions, Inc.