Publicly Traded Company Invests in Bulb Eater® Technology
GreenShift Corporation announced that it agreed to acquire a 30% stake in Air Cycle Corp., a privately held lamp, ballast, battery and electronics waste recycling company.
"Air Cycle has built an impressive blue-chip following for its existing Bulb Eater® product line," added Kevin Kreisler, GreenShift's chairman and chief executive officer (www.greenshift.com). "We take this as proof positive that the concept of distributed waste reduction and recycling is not just viable but is capable of thriving with the right backing. We intend to provide Air Cycle with this backing as we help them grow through acquisitions, increased sales, and technology development."
Due to U.S. Environmental Protection Agency regulations on fluorescent and mercury vapor lamps, most non-residential facilities are required to properly dispose of their lamps. Landfills are increasingly intolerant of lamps from non-residential sources due to the amount of mercury found in each lamp. Lamps later found in landfills are subject to retroactive clean-up costs under EPA regulations. Recycling of the lamp components is the recommended method of disposal by the EPA and helps to eliminate facility liability. Air Cycle offers lamp recycling products and services nationwide primarily through it's Bulb Eater® product line and it's EasyPak™ recycling program.
The EasyPak™ Recycling Program (www.lamprecycling.com) is offered as an alternative for customers who generate spent lamps, batteries, and/or ballasts and cannot meet Air Cycle's quantity minimums for bulk pick-ups. Small shipments are instead shipped through prepaid FedEx Ground transportation services. The program is simple, requires little paperwork, and is a practical option for facilities nationwide.
The Bulb Eater® product line crushes spent fluorescent lamps into small fragments and compacts them into 55-gallon containers. This greatly improves storage of the lamps, handling, safety/liability issues, and recycling costs. The units are complete with filtration systems to help ensure both OSHA and EPA compliance, even if facilities disposing of large quantities of lamps.
"Air Cycle was founded to address the growing need to make lamp recycling easy and efficient. This is directly in line with what we believe GreenShift is about and we are very excited to become part of GreenShift's portfolio," Scott Beierwaltes, Air Cycle's Chief Executive Officer (www.aircycle.com).
