ROBESONIA, Pa., Jan. 28, 2011 (GLOBE NEWSWIRE) -- Endeavor Power Corp Inc.(OTCBB:EDVP), an emerging leader in electronic asset recovery and e-waste recycling, announced today it has achieved its initial operating goals. The company has reached multiple milestones, including establishing a fully functional metals division offering total recycling and liquidation services to clients and e-waste recycling firms.
The first models of acquiring e-waste products for recycling were successfully tested, providing electronic waste recycling capable of handling 250,000 pounds of e-waste per month through delivery to the company's Pennsylvania location as well as through on-site pickup at customer locations. Endeavor now has the ability to scale up recycling operations to over 1,000,000 pounds per month.
In addition, local and regional electronic waste was delivered to Endeavor's site from manufacturers, retailers and scrap recycling firms on a per pound basis, testing the micro purchasing concept of e-waste recycling. "This micro recycling, or small daily waste acquisition, allows us to establish a well-timed and steady revenue stream as a basis of operations and to spread risk," reports Alfonso C. Knoll, CEO and Chairman.
This aggressive approach to e-waste has resulted in Endeavor gaining three high-profile Pennsylvania scrap yards as clients, who don't normally solicit e-waste. The yards have begun accepting electronic products and delivering them to Endeavor for recycling. "This is an exciting opportunity not only for Endeavor but also for existing scrap jobbers and metals yards to realize greater profits from e-waste than they receive from their traditional steel recycling product. The growth potential is tremendous with tens of thousands of existing scrap jobbers and waste yards," says Knoll.
Endeavor has also contracted with the Douglas Township Municipal Authority and several private companies to recycle e-waste. As more and more electronic waste in the form of computers, monitors and cell phones are discarded as domestic and commercial trash, this municipal market is expected to become an increasingly greater challenge for county waste managers. Endeavor solves that problem with its ability to pick up large amounts of e-waste where available and to also purchase, on a per pound basis, from small municipal waste centers.
Knoll also announced that Endeavor's professional recovery personnel are available Monday through Saturday for quick valuations and for full acquisition quotes via email Quote@EndeavorMetals.com and toll free 1(877) 285-5359.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
CONTACT: John Peters 1-877-285-5359