Tanke Signs $30 Million Contract in E-Waste
April 28 2014 - 8:00AM
Marketwired
Tanke Signs $30 Million Contract in E-Waste
Invests Further Into the E-Waste Industry
ST. LOUIS, MO--(Marketwired - Apr 28, 2014) - Tanke,
Incorporated (OTC Pink: TNKE) (PINKSHEETS: TNKE) a diversified
holding company focused on emerging technologies and "cleantech" is
pleased to announced today signing of $30 million contract in the
fast growing e-Waste industry.
Over 65 million tons of annual global e-waste is forecasted to
be generated by 2017 with strong and continuous growth. Across the
world, e-waste is already the fastest growing of all waste streams.
In 2012, the most recent year for which reliable data exists, China
alone generated 7.25 million metric tons of e-waste, which is 2nd
only to the United States at 9.4 million tons. 1
Under this contract, Tanke will provide management under the
eManagement brand, and in partnership with E-Waste Systems Inc.,
bring state-of-the-art technologies and processes for the proper
handling of electronics recycling, and electronic waste materials
recovery and reuse on a global scale.
"Tanke was instrumental to helping us launch our China business
last year and with their business network we are now dramatically
expanding our joint commitment to the E-Waste strategy for this new
year," said Martin Nielson, Founder and CEO of E-Waste Systems,
Inc. Recently, Tanke announced a new investment in the amount
of $2.3 million in the E-Waste Industry. The initial value of the
deal is worth $800,000, plus royalties and a minimum $5,000,000
sales commitment that were fulfilled in record time.
By 2020, e-waste in China is expected to jump by 400% from 2007,
while discarded mobile phones will be 7 times higher
(UNEP). Profits for the emerging e-waste industry in China are
forecasted to rise by over 300% reaching $10 Billion by 2017.
"We are very pleased with this contract. China being one of
the fastest growing e-waste recycling and logistics markets in the
world warrants our continued effort and focus. The results
currently being yielded from our entry into China last year in
E-Waste, has proven immensely lucrative. We are committed to
support sustaining this momentum in E-Waste working closely with
our partners," said Xiaoying Zhang, CEO of Tanke.
Additional information is available on the Company's website:
www.tankeinc.com or contact Investor Relations at:
IR@tankeinc.com
References:
1.
http://www.greenwisebusiness.co.uk/news/global-green-technology-market-to-grow-to-396-billion-3148.aspx
About Tanke Incorporated
Tanke is a diversified holding company with the mission to
develop, manage and finance emerging companies in high growth
industries. Tanke is focused in the development of environmental
technologies and "Cleantech" for a wide range of markets such as
commercial, industrial and municipal applications. Tanke
believes that globalization and the emergence of Asia stresses
natural resources, water, energy and food, and environmental
technologies will be at the forefront of the new paradigm shift in
usage of resources. Through its subsidiaries and affiliates in the
world and with its deep experience in China -- the fastest growing
emerging market in the world, Tanke seeks to grow through
acquisitions, organic growth in the USA and also in the emerging
markets. Our holdings consist of: Environmental & Water
technologies, eWaste and reverse logistics technologies, and The
Triple R Water recycling technology under the Re:Water™ brand.
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 disclosures. 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.
Additional information is available on Tanke, Inc.'s website:
www.tankeinc.com or Contact Investor Relations at:
IR@tankeinc.com
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