SALT LAKE CITY, Sept. 9, 2011 /PRNewswire/ -- Garb Oil & Power Corporation (USOTC: GARB). The banning of E-Waste from landfills by North Carolina is a turning point in US waste industry. Garb's technology and our ability to process industrially large volumes of E-Waste, in excess of 25,000 metric tonnes per annum (55,000,000 pounds) per plant, will help to contribute in eliminating E-Waste from landfills altogether. This decision by North Carolina will soon spread to other States, making it essential to build processing plants capable of handling large volumes of E-Waste in a single process.
"North Carolina's ban on E-Waste in regular landfills takes effect on July 1 under the Discarded Computer Equipment and Television Management Law. The law was approved in July 2010 by state lawmakers and regulates the disposal of electronic equipment. Sixty-four local governments state wide presented their E-Waste recycling plans to the state last year and were granted $465,500 combined through the N.C. Electronic Management Fund to help implement their plans……….A glance at the numbers
275 tons of E-Waste has been diverted from the Alamance County landfill since July 2009
1.5 million pounds collected at permanent E-Waste recycling sites state wide in 2010
19 states have already approved E-Waste bans in landfills
25 states have approved legislation on how to regulate E-Waste disposal."
Source: N.C. Division of Waste Management and Alamance County Landfill
CEO John Rossi said: "There's no doubt that GARB is in the right place at the right time. We are moving rapidly, positioning ourselves to maximize profits in the lucrative industry of E-Waste solutions. Since my last update to stakeholders, GARB has made further progress on several fronts. We are extremely close to filing our fully audited (GaaP) financials. The agency working to secure non-dilutive funding through the EB5 program has made significant strides. We are on schedule to break ground on our first official GARB E-Waste facility before 2012. I have also been working on three different stand-alone projects, each one of which would generate significant revenues for GARB immediately. As it stands right now, I should have at least one very exciting announcement during our next conference call with investors. We are laying a solid foundation for real success in a sector with almost limitless revenue potential." Garb will continue with our Conference Call update at the end of the month. We will announce next week time and date for our next conference call. You can watch our technology in action on the following link http://www.youtube.com/watch?v=dVbZ9SqAYfU
Garb Oil & Power Corporation is dedicated to the application of ClosedCycle(TM) principle and NoWaste(TM) residue. Our plants for Rubber Recycling, E-Waste and E-Scrap Recycling, Waste to Energy and OTR processing are all developed with these principles in mind. Garb believes that processing waste should be economically viable and leave NoWaste(TM). It is our endeavor to build plants that continue to push the boundaries for the attainment of the ClosedCycle (TM) principles and a world with NoWaste(TM).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this document that are not historical fact, are forward-looking statements based upon management's current expectations. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The results anticipated by any or all of these forward-looking statements may not occur. Garb Oil & Power Corporation is not required to update its forward-looking statements.
SOURCE Garb Oil & Power Corporation