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Post by Franko10 ™ on Jul 27, 2005 15:32:32 GMT -5
Oretech Initiates E-Waste Recycling Testing Program
Business Editors/Environment Writers/High-Tech Writers
PHENIX CITY, Ala.--(BUSINESS WIRE)--Sept. 30, 2003
Oretech Inc. (OTCBB: ORTE) announced today that, in addition to processing its proven ore reserves, the company believes that its processing technology is ideally suited for processing and disposing of E-Waste, a growing global environmental problem. E-Waste is waste that is derived from demanufactured electronics equipment that contains environmental contaminants and cannot legally be disposed of in landfills.
When asked to comment on this new market opportunity, Oretech's Chairman/CEO Stephen D. Cummins commented, "This is a global environmental problem that is only going to grow with time, and shipping our country's electronic waste streams offshore for disposal is not the solution. We see entrance into this fragmented market as an excellent potential profit center for Oretech, and we have always been focused on initiating new technological applications that are friendly to the environment. It's a win-win deal for us. In lieu of disposing the electronic components, our technology allows us to efficiently recycle them. At the end of the day, we would produce a wide range of materials that can be reused in the manufacturing of computers and other electrical and industrial applications."
In a recent report issued by Global Futures Foundation in San Francisco to the Environmental Protection Agency, they cite that electronic waste poses two core problems: the volume of electronic equipment improperly disposed of in municipal landfills, and the toxicity of the electronics and CRTs as waste products. More than 22 million computers are sold each year in the United States. Most of these become obsolete in little more than two years. More than 6,000 computers become obsolete every day in the State of California alone. Most of these are stored in back rooms and warehouses because people are unsure of how to properly dispose of them. However, an increasing number are finding their way into the waste stream.
E-Waste represents from two to five percent of the U.S. municipal solid waste stream. An estimated 300,000 tons of E-Waste went into landfills in the United States in 2000 and the problem is expected to grow four-fold in the next few years.
E-Waste contains significant quantities of toxic materials. Each computer or television display monitor contains an average of 4-8 pounds of lead. Monitor glass contains about 20 percent lead by weight. About 70 percent of the heavy metals (including mercury and cadmium) found in landfills come from electronic equipment discards. These heavy metals and other hazardous substances found in electronics can contaminate groundwater and pose other environmental and public health risks.
Cummins further commented, "It is most upsetting to us that currently the cheapest method of disposing of this waste stream today in the U.S. is shipping it offshore where we don't really know where it ends up. This practice is simply unacceptable and not good for the global environment. We believe we have the technology necessary to handle this problem efficiently and productively, without any adverse effect on the environment."
Oretech's plan for entering this global market is to immediately initiate testing on E-Waste feedstock and, based upon those results, management will develop a strategic business plan and operating pro-forma for presentation to the board of directors. The business plan will address the following issues:
1. Identify sources and types of electronic component waste
streams
2. Assess current remediation practices and operating costs
3. Identify market needs for recovery and reuse of electronic
components and disposal of obsolete electronics equipment
4. Development of a cost-benefit analysis to develop validation
5. Technological and economical validation through testing of
specific E-waste feedstock.
Upon completion of the business plan and approval from the board of directors, management would move to raise the capital resources necessary to establish an E-Waste demanufacturing and recovery plant in Phenix City, Ala.
Oretech is known for its breakthrough materials processing technology, which extracts specific minerals from diverse feedstock and raw materials without the use of harmful chemicals or the emission of environmentally unsafe gases. The company has been in operation since April 2003 and trades on the OTCBB as "ORTE."
This release may be deemed to contain forward-looking statements subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of Oretech that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed with the SEC, specifically recent Form 10-K and 10-Q reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements.
COPYRIGHT 2003 Business Wire
COPYRIGHT 2003 Gale Group
Business Editors/Environment Writers/High-Tech Writers
PHENIX CITY, Ala.--(BUSINESS WIRE)--Sept. 30, 2003
Oretech Inc. (OTCBB: ORTE) announced today that, in addition to processing its proven ore reserves, the company believes that its processing technology is ideally suited for processing and disposing of E-Waste, a growing global environmental problem. E-Waste is waste that is derived from demanufactured electronics equipment that contains environmental contaminants and cannot legally be disposed of in landfills.
When asked to comment on this new market opportunity, Oretech's Chairman/CEO Stephen D. Cummins commented, "This is a global environmental problem that is only going to grow with time, and shipping our country's electronic waste streams offshore for disposal is not the solution. We see entrance into this fragmented market as an excellent potential profit center for Oretech, and we have always been focused on initiating new technological applications that are friendly to the environment. It's a win-win deal for us. In lieu of disposing the electronic components, our technology allows us to efficiently recycle them. At the end of the day, we would produce a wide range of materials that can be reused in the manufacturing of computers and other electrical and industrial applications."
In a recent report issued by Global Futures Foundation in San Francisco to the Environmental Protection Agency, they cite that electronic waste poses two core problems: the volume of electronic equipment improperly disposed of in municipal landfills, and the toxicity of the electronics and CRTs as waste products. More than 22 million computers are sold each year in the United States. Most of these become obsolete in little more than two years. More than 6,000 computers become obsolete every day in the State of California alone. Most of these are stored in back rooms and warehouses because people are unsure of how to properly dispose of them. However, an increasing number are finding their way into the waste stream.
E-Waste represents from two to five percent of the U.S. municipal solid waste stream. An estimated 300,000 tons of E-Waste went into landfills in the United States in 2000 and the problem is expected to grow four-fold in the next few years.
E-Waste contains significant quantities of toxic materials. Each computer or television display monitor contains an average of 4-8 pounds of lead. Monitor glass contains about 20 percent lead by weight. About 70 percent of the heavy metals (including mercury and cadmium) found in landfills come from electronic equipment discards. These heavy metals and other hazardous substances found in electronics can contaminate groundwater and pose other environmental and public health risks.
Cummins further commented, "It is most upsetting to us that currently the cheapest method of disposing of this waste stream today in the U.S. is shipping it offshore where we don't really know where it ends up. This practice is simply unacceptable and not good for the global environment. We believe we have the technology necessary to handle this problem efficiently and productively, without any adverse effect on the environment."
Oretech's plan for entering this global market is to immediately initiate testing on E-Waste feedstock and, based upon those results, management will develop a strategic business plan and operating pro-forma for presentation to the board of directors. The business plan will address the following issues:
1. Identify sources and types of electronic component waste
streams
2. Assess current remediation practices and operating costs
3. Identify market needs for recovery and reuse of electronic
components and disposal of obsolete electronics equipment
4. Development of a cost-benefit analysis to develop validation
5. Technological and economical validation through testing of
specific E-waste feedstock.
Upon completion of the business plan and approval from the board of directors, management would move to raise the capital resources necessary to establish an E-Waste demanufacturing and recovery plant in Phenix City, Ala.
Oretech is known for its breakthrough materials processing technology, which extracts specific minerals from diverse feedstock and raw materials without the use of harmful chemicals or the emission of environmentally unsafe gases. The company has been in operation since April 2003 and trades on the OTCBB as "ORTE."
This release may be deemed to contain forward-looking statements subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of Oretech that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed with the SEC, specifically recent Form 10-K and 10-Q reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements.
COPYRIGHT 2003 Business Wire
COPYRIGHT 2003 Gale Group
