MINNEAPOLIS, Feb. 1, 2016 /PRNewswire/ -- Across the
United States, turmoil in the industry serving utilities with
appliance recycling programs is providing opportunities for
Appliance Recycling Centers of America, Inc. (NASDAQ: ARCI). By
engaging in new business in response to numerous inquiries from
potential, current and former utility customers, the company is
committed to further solidifying its leadership position with
environmental and energy efficiency programs that offer utility
ratepayers incentives to recycle old appliances.
The company announced in December that it was receiving a
significant increase in inquiries after a court-appointed receiver
was named for competitor JACO Environmental, Inc. According to
reports published in trade publications, JACO ceased operations in
November owing over $15 million to
its bank and approximately $4 million
in unpaid rebates to utility customers across the country.
"We can offer our utility customers stability and experience as
an industry pioneer," said Edward R. (Jack)
Cameron, ARCA's President and Chief Executive Officer. "In
the past two months, we've been assisting utilities across the
country with frustrated ratepayers by picking up and recycling
appliances and helping to reissue rebate checks. We have been
signing new purchase orders and contracts of varying lengths with
utilities in many states." Added Cameron, "I am extremely proud of
the responsiveness of our team. We are making the investments
necessary to scale up quickly to handle any and all aspects of
these important programs."
ARCA started supporting utility-based recycling programs in 1989
and has continued developing innovative software systems with
customized reporting capabilities, an integrated, customizable and
scalable call center platform utilizing leading-edge technology as
well as patented equipment to streamline the appliance recycling
process on a large scale. The company provides utilities across
the United States and Canada with superior customer service and
turnkey program management.
This week, Cameron and other ARCA Recycling personnel are
attending the Association of Energy Services Professionals (AESP)
National Conference & Expo in Phoenix
Arizona, an opportunity to network with industry
professionals and examine trends in energy efficiency, energy
management and distributed renewable resources.
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
(www.ARCAInc.com). ARCA Advanced Processing,
LLC employs advanced technology to refine traditional appliance
recycling techniques to achieve optimal revenue-generating and
environmental benefits (www.ARCAap.com). ARCA
Recycling'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
(www.ARCARecyclinginc.com,
www.ARCACanada.ca). 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