MINNEAPOLIS, Dec. 14, 2015 /PRNewswire/ -- Appliance
Recycling Centers of America, Inc. (NASDAQ: ARCI) today announced
that Xcel Energy has selected the Company to continue providing
appliance recycling services for the utility's Refrigerator and
Freezer Recycling Program through December
2018. Since 2009, ARCA has recycled approximately 60,000
energy-inefficient appliances for Xcel Energy residential customers
in Colorado, Minnesota and New
Mexico.
Through this Xcel-sponsored program, participating residential
electric customers who turn in operating, energy-inefficient
refrigerators and freezers are eligible for a cash rebate for each
qualifying appliance, plus two free CFL light bulbs. Customers may
turn in two qualifying appliances per year. Older refrigerators and
freezers often use twice as much electricity as newer models; Xcel
customers may save up to $100
annually on their energy bills according to ENERGY STAR®
estimates.
"We appreciate our relationship with Xcel Energy and our role in
this important program," said Edward R.
(Jack) Cameron, ARCA's President and Chief Executive
Officer. "Together our efforts will save Xcel customers money,
reduce energy consumption and safely destroy environmentally
harmful substances in old appliances."
An industry pioneer, ARCA began supporting utility-based
recycling programs in 1989. The Company has continued developing
innovative systems and equipment to collect and recycle appliances
on a large scale. ARCA provides utilities across the United States and Canada with superior customer service and
turnkey program management.
About ARCA
ARCA's three business components are uniquely positioned in
the industry to work together to provide a full array of
appliance-related services. ARCA Advanced Processing, LLC employs
advanced technology to refine traditional appliance recycling
techniques to achieve optimal revenue-generating and environmental
benefits. ARCA (www.ARCAInc.com) is also the
exclusive North American distributor for UNTHA Recycling Technology
(URT), one of the world's leading manufacturers of technologically
advanced refrigerator recycling systems and recycling facilities
for electrical household appliances and electronic scrap.
ARCA's regional centers process appliances at end of life to
remove environmentally damaging substances and produce material
byproducts for recycling for utilities in the U.S. and Canada.
Eighteen company-owned stores under the name ApplianceSmart,
Inc.®(www.ApplianceSmart.com) sell new
appliances directly to consumers and provide affordable ENERGY
STAR® options for energy efficiency appliance
replacement programs.
This press release contains statements that are
forward-looking statements as defined within the Private Securities
Litigation Reform Act of 1995, including statements regarding
ARCA's future success. These forward-looking statements are subject
to risks and uncertainties that could cause actual results to
differ materially from the statements made, including the risks
associated with general economic conditions, competition in the
retail and recycling industries and regulatory risks. Other factors
that could cause operating and financial results to differ are
described in ARCA's periodic reports filed with the Securities and
Exchange Commission. Other risks may be detailed from time to time
in reports to be filed with the SEC.
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SOURCE Appliance Recycling Centers of America, Inc.