E-Waste Systems enters India with expansion
E-Waste Systems, Inc. created a new business unit to enter India, via a new subsidiary named EWS (Bharat) Ltd. The Republic of India is also officially known by its constitution as ‘Bharat.’
Estimates of $1.5 billion representing 1,600,000 tons worth of e-waste is being domestically generated in India each year, as reports from Toxics Link, a Delhi-based non-governmental organization, International Resource Group and the United Nations all serve to confirm. It is the fastest growing waste stream and is projected to grow 500 percent by 2020. The booming of the IT sector is the largest contributor, due to the fact that 30 percent of these machines reach obsolescence annually.
In support of this India expansion initiative, EWSI entered into a Strategic Branding Alliance with iTechRecycle Llc, a company founded by Lance Pahi, an India Foreign National. Pahi and his partners have filed papers with the India Government to sponsor a state sanctioned launch of an eWaste operation in conjunction with EWSI. Martin Nielson, chief executive officer and founder of EWSI, has agreed to serve as non-executive chairman for iTech to maximize the support for the effort.