E-Waste Systems Acquires California e-Waste Firm

All employees will be retained and EWSI intends to use the Irvine unit as a strategic operational hub for Southern California.  Julie Peterson Mindiola, founder of the company, will stay on in an executive capacity.  Kimberly Crew, the majority shareholder and president of Surf who is based in the Philadelphia area, will join the EWSI Advisory Board.  She is considered one of the leading entrepreneurial executives in the Eastern US, having won prestigious awards such as Philadelphia Business Journal's "Women of Distinction Award", and Business Journal of Pennsylvania's "Pennsylvania's Best 50 Women in Business". 

"I am looking forward to help EWSI achieve its goals and to promote the cause of highly compliant end of life solutions.  We both have a lot we can achieve together," said Kimberly Crew. Ms. Crew will be joining EWSI's advisory board while still managing three other ventures, including Lighthouse Ventures, an investment and advisory firm. 

Julie Peterson added, "We see a significant opportunity to grow our business with the support of the EWSI team under the eWaste System brand." Julie Peterson, who founded Surf in 1979, has been actively managing day-to-day operations of the company.  She led the initiative that registered the company under California's electronic waste legislation and will continue to play a key role in the operations post-closing.

"We are delighted to be teaming up with Kimberly and Julie in this transaction," stated Nielson. "The business they have built over the years has become a trusted supplier to its customer base.  We intend to leverage that and their accreditation with the State of California to help achieve our plans.  This acquisition perfectly complements elements of our announced goals for 2013 of growing our global brand, expanding our technologies, and accelerating our revenues." Said Mr. Nielson, CEO of EWSI.

The binding terms of the transaction have been filed with the SEC on Form 8-K.  Definitive agreements have already been tendered, due diligence has already been largely completed and, pending board approval, the transaction is expected to close within the month of May.

Industry Expansion
The e-waste and reverse logistics market has become a $100B+ annual business (Source: Blumberg Associates), excluding much of the resale of still usable goods that flood the marketplace as new updates in software and hardware are released. Furthermore, as environmental legislation and policies sets more stringent requirements for the disposal of these items, many analysts and practitioners expect e-waste to grow faster than any other waste stream over the next 5 years. The benefits of e-waste management and recycling are many, including conservation of natural resources, creation of new jobs, prevention of environmental contamination by toxic chemicals, and reduction of energy requirements.

About E-Waste Systems, Inc.
E-Waste Systems, Inc. is the sole pure play public company in the emerging waste electrical and electronics equipment ("WEEE") industry. EWSI targets companies facing regulatory or other mandates for handling e-waste. EWSI operates and assists its large geographical network of affiliates, applying best practices in professional management, offering state-of-the-art engineering, and providing a truly global e-waste solution. Additional information, including the business plan summary, is available on the Company's website: www.ewastesystems.com.

For more information as it happens, follow @EWasteSystemsIn on Twitter,  Facebook, and LinkedIn.Or contact Investor Relations at: ir@ewastesystems.com

Safe Harbor Statement: Certain statements and information in this release 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 SEC filings. 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.

SOURCE E-Waste Systems, Inc.