GreenShift Transfers Stake in E-Scrap Recycler

Acquisition expected to be complete by the end of this year.

Published December 21, 2005

GreenShift Corp. announced plans to transfer its 80 percent stake in Electronic Scrap Recycling Corporation, an Indiana-based electronics recycler, to INSEQ Corp.

 

GreenShift expects the transfer to occur immediately after its acquisition of ESRC stock, which is planned to close this week.

 

ESRC provides electronic waste recycling, logistics and Certified Data Destruction services to public and private sector clients out of its 125,000 square foot facility in Elkhart, IN.

 

"This transfer is an important part of our plans to consolidate the activities of a number of GreenShift's portfolio companies based on their respective core competencies," said Kevin Kreisler, GreenShift's chairman and CEO. "INSEQ's business model is to directly facilitate the more efficient use of natural resources. Essential elements of this are building and selling innovative green products and enabling the resale of secondary materials.

 

ESRC is developing a proprietary new ferrofluid process that is capable of preferentially separating targeted compounds from a mixed solid waste stream. Ferrofluids are liquids that are comprised of nanoscale magnetic particles suspended in a carrier fluid and exhibit novel properties when exposed to specific magnetic fields. Conductivity, viscosity and volatility can all be manipulated through the selection and sizing of the particles and the application of specific magnetic fields.
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