Investment Allows ReCellular To Expand Mobile Recycling
Recellular, the world’s leading Market Watch.
Investment in ”clean-tech” operations in general is exploding. It has increased ten-fold over the past 5 years, from $235 million in 2003 to $2.6 billion in 2008, according to the National Venture Capital Association.
The increased attention may be attributed to the increasing success of clean-tech businesses. ReCellular’s revenues, for example, have increased an average of 25 percent for the past eight years.
This year, the company is expected to process more than 6 million mobiles, sharply contrasting the first year total of 5,000.
“This investment marks a milestone in ReCellular’s history,” CEO Chuck Newman told Market Watch. “It marks our transition from a successful start-up in the emerging field of cell-phone recycling into the undisputed global leader in electronics sustainability.”
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