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ecoATM Installs First eCycling Station for Mobile Phone

New system automatically buys back used mobile phones and portable electronics regardless of their condition

ecoATM today announced that it has installed its first Automated eCycling Station for eWaste recycling take-back programs and trade-in promotions. The installation at Nebraska Furniture Mart in Omaha on September 21, 2009, has proven to be an immediate success, both in the number of recycled devices and the resulting trade-up purchases. By automating the buy-back and payment process, the system offers financial incentives to consumers for all used mobile phone models and will soon support other consumer electronics, regardless of their condition.

"The ecoATM makes it easy and convenient for our customers to trade-in and recycle their used mobile phones," said Jay Buchanan, Electronics Division Director, Nebraska Furniture Mart, Inc., America's Largest Home Furnishings Store. "This benefits both our customers and the environment."

"We are extremely pleased with the initial results and consumers' delight with the system," said Mark Bowles, CEO, ecoATM Inc. "ecoATM's solution finally makes it easy for consumers to give their used phones a second life or to recycle them. Over 100 million used, but still valuable, phones are quietly retired to closets and drawers each year in the US where they decay into zero value and then enter our landfills years later. Our automated ecoATM provides consumers and retailers an easy, convenient, incentivized method to convert those devices into real money instead of toxic waste."

"Consumer electronics retailers and their OEM partners are facing a complex and growing set of state and municipal eWaste laws. Consumer convenience is important to solving the eWaste problem in the U.S., and trade-in/trade-up incentive programs are proving to be quite effective in retail," said Leslie Hand, Research Director, IDC Retail Insights.

San Diego's CONNECT organization also announced this week that ecoATM was a Most Innovative New Product (MIP) Awards finalist. The CONNECT MIP Awards are San Diego's "Oscars" for regional innovation. The winners will be announced in December.

ecoATM will launch additional eCycling Stations with several more national retailers over the next quarter in San Diego, Boston, Dallas, and Seattle.

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