TORONTO, ON / ACCESSWIRE / November 23, 2020 / Sparta Group (TSXV:SAY) (the "Corporation" the "Company", "Sparta Group", "Sparta Capital" or "Sparta") is well positioned to help electronics manufacturers and importers deal with new Ontario government recycling regulations slated to take effect January 2021. In fact, the environment-focused company is one of only a few organizations that are approved to do so.
Sparta's e-waste recycling division, ReECO Tech Electronic Conversions/ERS-International ("ReECO Tech/ERS-International") is known for its responsible electronic recycling and upcycling abilities, as well as its asset remarketing and recovery services. Organizations around the world trust the electronics recycling operation, especially in light of its efficient processes and security measures.
The Ontario government recently introduced new regulations requiring all electronic manufacturers/producers to collect and safely manage the full life cycle of their electronic equipment, such as cell phones, computers, and printers. Under the regulation, which will be enforced as of January 1, 2021, producers are encouraged to reuse and refurbish products so they can be resold. The Resource Productivity and Recovery Authority ("RPRA") will be in charge of enforcing the new regulation. This includes monitoring the performance of producers to make sure they are in compliance.
"We are 100 percent confident that we have the right systems in place to help many more electronics companies ensure compliance under these new rules. We have an efficient materials tracking system in place that is powered by our proprietary data-base management platform as well as high security, strict operations standards, sophisticated asset tracking, and a zero-waste policy. Nothing gets tossed out at our facility and we have a strong capability of upcycling waste into new, valuable products, due to our ongoing materials analytics, carried out in our on-site laboratory research facilities. This is why we've been approved by the governing authority, RPRA; a distinction that few have been able to attain," said President and Chief Technology Officer for Sparta Group, John O'Bireck.
Those who don't comply under the new Ontario government regulations could face hefty fines as the province steps up its push for developing a circular economy. The government has stated that electronics manufacturers and importers could save millions by transitioning from current waste diversion programs to a full producer responsibility model.
Sparta's e-waste recycling division can arrange for haulage, collection, certified destruction, as well as the remarketing of electronics. Furthermore, working with ReECO Tech/ERS-International means the responsibility of a manufacturer or importer's reporting mandate to the government will be handled on behalf of the producer. If a manufacturer falls short of its quota, ReECO Tech/ERS-International can ensure that the producer doesn't get penalized as they can transfer credits through the e-waste facility's other partners.
"We know the pitfalls of reactive response to the kind of regulation that is about to go into effect. However, we can help manufacturers be proactive by getting them ready now to meet this important upcoming government mandated obligation. All they have to do is reach out to us and we can get them started so as to avoid any penalties for non-compliance," said Alfea Principe, Director of Global Compliance for ReECO Tech Electronic Conversions Ltd.
Sparta Group (a.k.a. Sparta Capital Ltd.) is a technology-based company that owns or holds a controlling interest in a network of independent businesses that supply energy saving technologies designed to reduce energy inefficiencies, achieve reduced emissions and increase operating efficiencies in various industries. In response to the COVID-19 crisis, Sparta has also expanded its scope to help facilitate supply of necessary materials while assisting talented inventors who are looking to introduce innovative technical solutions that will bring greater normalcy to the post COVID-19 world. Sparta's network of independent businesses provides a wide range of specialized energy capturing, converting, optimizing, and related services to the commercial sector. Sparta provides capital, technical and engineering expertise, legal support, financial and accounting knowledge, strategic planning and other shared services to its independent businesses.
Sparta is a publicly traded company listed on the TSX Venture Exchange Inc. under the symbol "SAY" (TSX.V: SAY). Additional information is available at www.spartagroup.ca or on SEDAR at www.sedar.com.
For further information please contact:
John O'Bireck, President & CTO
Email: [email protected]
Telephone: (905) 751-8004
This news release contains "forward-looking information" within the meaning of applicable securities laws. When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, readers are cautioned to not place undue reliance on forward-looking information because the Corporation can give no assurance that they will prove to be correct. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date of publication of this news release and the Corporation undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Furthermore, the Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation. These include, but are not limited to, the failure to obtain necessary regulatory approvals, necessary financing and risks associated with the environmental technologies industry in general. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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SOURCE: Sparta Capital Ltd.