Crednology Holding Corp. (OTCPINK: COHO) ("Crednology"), is pleased to announce that its wholly owned subsidiary, California Recycling, Inc. has signed a three year extension to its contract with the City of Calabasas to provide Electronic Waste recycling for the city, its residences and business community. California Recycling has been providing recycling services to the City of Calabasas, its residences and businesses since 2009.
California Recycling holds several recycling events every month for the City where local residents may bring their E waste and appliances to locations provided by the City where we collect and recycle the products. These events are promoted by the City at no cost to us and we believe we can enhance this business by adding on-site data shredding services as well.
Oriel Rechtman, CEO of Crednology Holding Corp. commented, "We are excited that the City has agreed to this extension of the current contract. The Company's reputation with the City has been established over the last seven years and we expect to build upon the momentum achieved with other contracts similar to the one with the City of Calabasas." Rechtman further added; "Our services to the community are appreciated not just for our professionalism but for our efforts and contribution to keeping our planet green."
About Crednology Holding Corp.
Crednology Holding Corp, a Delaware corporation, is a public holding company that has been dedicated to enhancing shareholder value through a strategic combination of organic growth, mergers and profitable acquisitions.
The Company is engaged in the cloud computing segment of the technology sector as well as the Electronic Waste and Recycling business. The main products and services include cloud computing and virtual environment, disaster recovery and business continuity and managed services to corporate accounts as well as the recycling and disposal of E-Waste and other materials.
The market for cloud computing is growing at a staggering pace. In 2015 the industry experienced a rapid growth of 33% with the segment of business reaching over $16 billion by the year end. This market trend is expected to continue with growth of approximately 30% expected annually for the next few years. E-Waste is growing at a significant pace with double digit increases anticipated annually over the next few years.