Global corpuscle buzz recycling aggregation ReCellular prepares to aggrandize operations and advanced advance with basic investment from Investor Growth Capital (IGC).
Dexter, MI -- ReCellular, the world's arch electronics-sustainability firm, appear today that Investor Growth Capital (IGC) is advance $15 actor in a Series A Preferred Stock financing. The investment adds a growing clean-tech aggregation to IGC's portfolio, and will accredit ReCellular to aggrandize operations and advanced its accelerated acquirement growth.
"This investment marks a anniversary in ReCellular's history," says ReCellular CEO Chuck Newman. "It marks our alteration from a acknowledged start-up in the arising acreage of corpuscle buzz recycling into the acknowledged all-around baton in electronics sustainability."
This investment marks a anniversary in ReCellular's history It marks our alteration from a acknowledged start-up in the arising acreage of corpuscle buzz recycling into the acknowledged all-around baton in electronics sustainability. Our ambition was to advance a assisting aggregation that was socially and environmentally responsible Through the adherence of a accomplished aggregation of people, ReCellular has exceeded all expectations. With IGC's abutment and investment, we will badly aggrandize the aggregation and set the accepted for success in electronics-sustainability and clean-tech operations. We see amazing advance abeyant in ReCellular We chose to accomplice with IGC because of their abysmal ability of the sector, their acquaintance with growth-stage companies, and the amount they can accompany through affluent networks in the U.S., Europe, and Asia We candy about 5,000 phones in our aboriginal year of business Today, we get an boilerplate of 24,000 phones - abundant to ample seven mail trucks - every day, 5 canicule a week. With the abutment and assets of IGC, we see the abeyant to bifold the amount of mail trucks carrying to ReCellular in the actual abreast future. Newman has been a avant-garde in the cell buzz recycling exchange back 1991. ReCellular has accomplished atomic advance by capitalizing on two allied trends: consumers' growing acquaintance of ecology issues, and the accretion sales of new wireless handsets.
As a result, ReCellular's revenues accept added an boilerplate of 25 percent for the accomplished eight years. Today, the aggregation is the arch collector, recycler and refurbisher of corpuscle phones in the world: in 2008, the aggregation is on clue to aggregate added than 6 actor phones and recycle added than 1.5 actor pounds of material. According to the Environmental Protection Agency, recycling 6 actor phones reduces carbon emissions by the agnate of 8,400 cars over a year.
"Our ambition was to advance a assisting aggregation that was socially and environmentally responsible," says Newman. "Through the adherence of a accomplished aggregation of people, ReCellular has exceeded all expectations. With IGC's abutment and investment, we will badly aggrandize the aggregation and set the accepted for success in electronics-sustainability and clean-tech operations."
IGC Investment Objectives
For IGC, the investment in ReCellular is allotment of the investment firm's "clean-tech" advance practice. The clean-tech area is one of the fastest-growing sectors of the market; according to the National Venture Capital Association, investment in clean-tech operations has added ten-fold over the accomplished 5 years, from $235 actor in 2003 to $2.6 billion in 2008.
"We see amazing advance abeyant in ReCellular," says Albert Kim, Vice President of IGC. "They accept revolutionized the electronics-sustainability industry by accouterment a acceptable band-aid for consumers to recycle their acclimated handsets, while at the aforementioned time extracting abundant amount from these phones to body a acknowledged business. We accept advised abounding clean-tech companies, including abounding in the corpuscle buzz recycling arena, and we acquainted that ReCellular was acutely the world's a lot of able corpuscle buzz reclaim and recycling firm."
IGC is the wholly endemic adventure basic arm of Investor AB, the better listed automated captivation aggregation in the Nordic region. IGC invests in high-quality, growth-oriented companies in North America, Europe and Asia.
IGC will advance $15 actor in ReCellular. In affiliation with the investment, Noah Walley and Albert Kim will accompany ReCellular's axle of directors. IGC will advice apprehend ReCellular's broadcast business plan by leveraging their aggregate acquaintance in architecture and developing world-class companies and by accessing their unique, all-around accord network.
"We chose to accomplice with IGC because of their abysmal ability of the sector, their acquaintance with growth-stage companies, and the amount they can accompany through affluent networks in the U.S., Europe, and Asia," says Newman.
ReCellular Growth Objectives
According to a contempo abstraction appear by Nokia, alone three percent of mobile-phone users recycle their old handsets, and bisected of wireless users are not acquainted that corpuscle phones can be recycled.
With an estimated 3.3 billion cell-phone users worldwide, and 130 actor phones retired in the U.S. every year, this abstraction illustrates the befalling for cogent advance in the all-around corpuscle buzz recycling and reclaim market.
ReCellular affairs to capitalize on this befalling to aggrandize the ability and appulse of the company. Among added initiatives, ReCellular affairs to:
Expand operations in Michigan, aperture new appointment facilities, accumulation processing in Washtenaw County, and decidedly accretion the amount of Michigan advisers Rapidly access buzz collections, absorption on direct-to-consumer and trade-in partnerships, and architecture chump acquaintance of the allowances of corpuscle buzz recycling Evaluate cardinal acquisitions of added electronics recycling businesses that could accompaniment ReCellular's ability and operations.
"We candy about 5,000 phones in our aboriginal year of business," says Newman. "Today, we get an boilerplate of 24,000 phones - abundant to ample seven mail trucks - every day, 5 canicule a week. With the abutment and assets of IGC, we see the abeyant to bifold the amount of mail trucks carrying to ReCellular in the actual abreast future." Advisor
XMS Capital Partners served as absolute banking adviser to ReCellular in affiliation with this transaction.
About ReCellular
With offices in the United States, Hong Kong, and Brazil, ReCellular Inc. is the world's foremost electronics-sustainability firm. ReCellular provides solutions for the collection, reclaim and recycling of acclimated claimed electronics that accomplish banking acknowledgment for its partners, above articles for its customers, allotment for alms organizations, and aegis of the environment. Corporate, charitable, chump and broad advice is accessible at ReCellular.com.
About Investor Growth Capital
Investor Growth Capital (IGC) is the wholly-owned adventure basic arm of Investor AB, a about traded automated captivation company, listed on the Stockholm Exchange. IGC was formed in the mid-1990s to advance in high-quality, growth-oriented companies. Today its 30 investment professionals are developing a portfolio whose amount exceeds $800 actor from offices amid in New York, Menlo Park, Stockholm, Hong Kong, Tokyo and Beijing. Investor AB is a arch actor in a amount of European bunch corporations, including ABB, Astra Zeneca, Atlas Copco, Electrolux, Ericsson and SEB. For about a aeon Investor AB's business aesthetics has been to body best-in-class companies in sectors area the accumulation has able ability and a networking advantage. IGC shares that access and allowances from Investor AB's all-encompassing all-around arrangement of companies and chief managers. To apprentice added appointment investorgrowthcapital.com.
About XMS Capital Partners
XMS Capital Partners is a bazaar investment case focused on acceptable advance companies with banking and cardinal alternatives. To apprentice more, amuse appointment xmscapital.com.
