Los Angeles Cleantech Incubator (LACI) Announces E-Waste Systems, Inc. as its Newest Portfolio Company

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Sep 19, 2012, 08:00 ET

LOS ANGELES, Sept. 19, 2012 /PRNewswire-USNewswire/ -- LACI is pleased to announce the addition of its newest portfolio company, E-Waste Systems, Inc. (OTCBB:EWSI). E-Waste Systems, Inc. has been established to create a market-leading, integrated business in the emerging waste electrical and electronics equipment industry.

The City of Los Angeles is strongly committed to supporting the green economy and to providing assistance to innovative, high-potential cleantech companies as they grow and expand their operations. The greater Los Angeles region is the largest manufacturing center in the United States, has the nation's largest port complex, and is home to more than ten million people. California and Los Angeles have some of the strongest recycling laws in the nation, including the first e-waste recycling law (Electronic Waste Recycling Act of 2003: SB20/SB50), which has recently reached its billionth pound collected. In 2006 Los Angeles generated 9.62 million tons of potential waste and has a Zero Waste Plan with a target diversion rate of 90% by 2025, and the market opportunities for EWSI's core businesses are large and growing rapidly.

"The reduction and recycling of waste products of all types is an important goal of Los Angeles, which is why LA does more recycling than any other major city in the United States. We welcome E-Waste Systems into the LACI fold and look forward to making our resources and relationships available to help EWSI's growth in the region," said Fred Walti, Executive Director of LACI.

Martin Nielson, CEO of E-Waste Systems, commented, "Southern California is critical to our growth and consolidation strategy and having a center of operations in Los Angeles with the Incubator will help us accelerate our presence and relationships in the region. We look forward to capitalizing on the rich opportunities this relationship presents."

About E-Waste Systems, Inc.
Headquartered in London, where e-waste regulations are the most stringent in the world, E-Waste Systems, Inc. has been established to create a market- leading, integrated business in the emerging waste electrical and electronics equipment ("WEEE") industry, targeting businesses facing regulatory or other mandates for handling ewaste. E-Waste Systems, Inc. plans to do so by acquiring a select number of high-quality companies with strong management teams that have a shared commitment to helping customers achieve cost effective and environmentally responsible compliance with e-waste recycling and disposal requirements. E-Waste Systems, Inc. will leverage and extend its acquisitions' established customer relationships by expanding the services offered to customers, applying best practices in professional management, and by investing in state-of-the-art recycling technology – creating a truly global service provider in the e-waste sector. Additional information is available on the Company's website, www.ewastesystems.com

About LACI
The Los Angeles Cleantech Incubator (LACI) is a private nonprofit funded by the City of Los Angeles to accelerate the commercialization of clean technologies in the Los Angeles region. Located in the center of the City's Cleantech Corridor, LACI offers flexible office space, CEO coaching and mentoring, and access to a growing network of experts and capital. LACI Portfolio Companies operate in a range of sectors including Smart Grid infrastructure, energy efficiency, energy storage, electric transportation, and materials science. LACI works closely with the region's universities, business community, government institutions, capital markets and utilities to foster innovation and to grow the region's green economy. For more information, please visit the LACI website: www.laincubator.org

SOURCE Los Angeles Cleantech Incubator