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California Recycles Adds New Customers
Northridge, CA, April 25, 2019 (GLOBE NEWSWIRE) -- Crednology Holding Corp. (OTC Pink: COHO; "Crednology") announces that it has made a substantial investment in new technology at its Santa Clara Data Center.
This new state of the art technology will double the company’s current capacity, increase speed, storage and Disaster Recovery services and reduce operating costs by as much as $50,000 annually.
The original investment was funded by Orie Rechtman in order to take advantage of a substantial discount offered by the vendor for a limited time. Mr. Rechtman’s loan has now been replaced with a conventional loan.
Our ability to meet the demands of current and future customers, at lower costs, gives us a great platform to build upon.
The Company is enjoying a strong April in its recycling business. Earth Day on April 22 always helps to increase our business as more and more businesses and individuals recognize this day as a very good time to recycle their E-waste products.
California Recycles also added new clients.
The City of Thousand Oaks, Public Works Department, signed an agreement to provide all their E-Waste products to California Recycles.
NantWorks, the parent organization of multiple Ecosystem companies, has started working with California Recycles for us to manage all their E-Waste products. The initial work called for several large truckloads to be recycled immediately. We started working with this new client last week.
Orie Rechtman, CEO commented: “We continue to look to the future with improved infrastructure in our cloud computing division. We not only reduced overhead costs, but we have the ability to manage much more business more efficiently and because of the cost savings, improve profit margins.”
Orie added: “Our Recycle division continues to grow. These two new clients improve revenue which results in more profit. As always, we continue to strive to achieve improved shareholder value.”
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.
Essentially cloud computing is a way to save and/or access data from remote servers. The company’s Private Cloud solution provides fully working environment through our data centers located around the USA as well as real time redundancy and replication of the client’s data which will eliminate loss of data and minimize down time close to zero. Cloud computing is growing at a staggering pace. The industry is experiencing rapid growth with the cloud segment of business achieving a growth of over 20% per annum. E-Waste is going through changes as a result of the tariff struggles between China and the US. We are planning to grow our recycling business by future investments in paper and cardboard recycling
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