SAN DIEGO, Oct. 24, 2014 /PRNewswire/ -- ecoATM, the
nationwide network of automated electronics recycling kiosks,
announced today it received the 2014 Green Business of the Year
Award presented by the Latin Business Association (LBA) for its
increasingly positive impact on the environment and economy.
ecoATM, the first e-waste recycling kiosk, was invented to help
solve the issue of e-waste by making it safe, secure and convenient
for people to recycle their unwanted mobile devices, tablets and
MP3 players. ecoATM collected over three million devices as of
August 2014, helping to keep toxic
materials out of landfills while putting money back into consumers'
pockets. The prestigious honor was given during the 38th Annual LBA
Sol Business Awards Gala, held Oct.
22 in Los Angeles.
According to research firm Compass Intelligence, there will be
an estimated 396 million idle or inactive mobile devices in the
U.S. by the end of 2014--only about 80 million of which are
expected to be recycled. The majority of consumer electronics
contain toxic materials, such as lead, arsenic and other toxins
that pose a threat to the environment and human health. Industry
experts estimate that each year 15 pounds of e-waste is generated
per person worldwide (source: The StEP Initiative report).
ecoATM has approximately 1,100[i] kiosks throughout the U.S.
that have already led to the collection of more than three million
devices. The collection of these three million devices has enabled
the recovery or reuse of 879,000 pounds of devices, nearly enough
plastics, metals and potentially toxic materials to equal the
weight of two Boeing 747-400 series airplanes. In September,
ecoATM, together with its parent company Outerwall, announced to
the Clinton Global Initiative (CGI) that it expects to collect at
least two million pounds of e-waste over the next three years,
helping to further divert the rising tide of e-waste from
landfills. CGI was established by President Bill Clinton to convene global leaders to create
and implement innovative solutions to the world's most pressing
challenges.
"As our newest corporate member to the association, ecoATM
quickly impressed us – the company's commitment--and action--to
reduce e-waste and keep millions of phones out of landfills is a
momentous accomplishment," said Ruben
Guerra, chairman of the Latin Business Association. "We are
pleased that our constituents benefit from ecoATM, from both an
environmental and monetary perspective. Latino businesses are the
fastest growing in California and
the LBA advocates for opportunities that set business owners at a
higher class of competitiveness. ecoATM reflects our mission to
advocate and support Latin owned businesses, and we are pleased to
have them as our 2014 Green Business of the Year Award
recipient."
"Our mission is to inspire mass consumer participation in
e-waste recycling through an environmentally friendly business
model that leverages technology to make it seamless and
convenient," said Mark Bowles,
co-founder of ecoATM. "We're rewarding consumers by putting cash
into their hands and rewarding the environment by keeping devices
out of landfills. We are proud to support the Latino community
through our kiosk network while putting money back into wallets of
Latino consumers and businesses alike to further stimulate the
local economies where we are located."
Recycling with ecoATM
ecoATM kiosks accept devices of
any era or condition and use a worldwide auction system to offer
consumers competitive prices – ranging from a few dollars for older
models to a few hundred for newer smartphones – depending on
condition. Some very old devices may not be worth anything, but,
with ecoATM, consumers can rest assured knowing that devices will
be safely and responsibly recycled. ecoATM is able to find a second
life for 75 percent of all devices collected. For the remaining 25
percent, ecoATM partners with R2 certified e-waste reclamation
facilities to ensure that those materials are responsibly reused
and recycled.
To learn more about ecoATM or to find a kiosk, visit
www.ecoatm.com.
About ecoATM
ecoATM, an Outerwall Inc. (Nasdaq: OUTR) brand, is the first
company to create an automated self-serve kiosk system to buy back
old phones, tablets or MP3 players for cash. ecoATM uses patented,
advanced machine vision, electronic diagnostics, and artificial
intelligence to evaluate electronics. ecoATM® eCycling stations
provide a convenient trade-in solution with features that validate
sellers' identities and deter the sale of stolen phones, and the
company collaborates with national, state, and local
law-enforcement groups in combating mobile phone theft through
innovative use of technology and education.
ecoATM holds Responsible Recycling (R2) and ISO14001
certifications, confirming the company's commitment to maintaining
the highest standards of electronics recycling, as well as ISO27001
certification for information and personal data security. See
http://www.ecoatm.com/how-it-works/ for a video of how an ecoATM
kiosk works. For more information, visit www.ecoatm.com and
for more information about Outerwall Inc. please visit
www.outerwall.com.
About the Gala and the Latin Business Association
The Latin Business Association's Sol Business Awards Gala is the
premiere annual black-tie event recognizing Latin Business
Excellence and Achievement. The Gala involves the "who's-who" of
the Latino entrepreneurial, corporate and political worlds. The
Latin Business Association is proudly celebrating 38 years of
serving the Latin- and small business communities. Since our
inception in 1976, our mission has been to Build Economic Wealth
and Opportunity for Latin- and minority-owned businesses and
entrepreneurs. The LBA, often in partnership with other
organizations, strives to support diverse business owners by
providing events, programs and services that help them to grow
their businesses and succeed.
Safe Harbor for Forward-Looking Statements
Certain statements in this press release are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Words such as "expect" and "will" and
variations of such words, and future-looking and similar
expressions identify forward-looking statements, but their absence
does not mean that the statement is not forward-looking.
Forward-looking statements are not guarantees of future events,
results, performance, or conditions. The forward-looking statements
in this release, including those relating to the cell phone and
recycled electronics markets, and the performance of the ecoATM
business, are only predictions based on the current intent and
expectations of management, and actual events, results,
performance, and conditions may be materially different from those
expressed or implied in those statements. Differences may result
from actions taken by Outerwall or ecoATM, as well as from risks
and uncertainties beyond their control. Such risks and
uncertainties include, but are not limited to, competition from
other companies who purchase used electronics, actions resulting
from federal, state, local and other laws and regulations or taken
by governing bodies, as well as the ability to achieve the
strategic and financial objectives of Outerwall's entry into new
businesses, such as ecoATM. The foregoing list of risks and
uncertainties is illustrative, but by no means exhaustive. For more
information on factors that may affect Outerwall, please review
"Risk Factors" described in Outerwall's most recent Annual Report
on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed
with the Securities and Exchange Commission (the "SEC"), as well as
other public filings with the SEC. These forward-looking statements
reflect Outerwall's expectations as of the date of this release.
Outerwall undertakes no obligation to update the information
provided herein.
[i] Kiosk number as of July 30,
2014
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SOURCE ecoATM