On Friday, April 1, ARCA Recycling launched seven turnkey appliance
recycling programs with utilities, marking the largest one-day roll-out
of such programs in the company’s history. ARCA Recycling, Inc., is a
wholly owned subsidiary of Appliance Recycling Centers of America, Inc.
(NASDAQ:ARCI).
“Since our company’s founding over 30 years ago, this was our greatest
one-day operational accomplishment,” said Edward R. (Jack) Cameron, ARCA
Recycling’s President. “I want to credit our outstanding team members
who rose to the challenge to meet our utility clients’ timelines. ARCA’s
infrastructure and capabilities developed over the years – including
call centers, websites, proprietary software, on-the-ground logistics
and state-of-the-art recycling centers – have enabled us to respond
quickly to the increased demand for our services.”
Most of the seven programs launched April 1 relate to contracts in five
states that were announced in March. ARCA Recycling is continuing to
implement programs for utilities, with multiple programs expected to
launch in May and June.
Cameron added, “Our scalable solution has proven effective across the
United States and we continue to respond to strong interest from
utilities.” Cameron noted that the increase in business has provided
opportunities to open additional recycling centers while boosting
appliance volumes at existing facilities.
Utilities are continuing to embrace the benefits of energy-efficiency
programs for ratepayers and the environment, according to information
from the American Council for an Energy-Efficient Economy (ACEEE):
“Total spending for customer-funded electric efficiency programs and
natural gas programs together amounted to more than $7 billion in 2014,
more than five times what was invested in efficiency programs just a
decade ago.” (ACEEE blog, March 25, 2016).
About Appliance Recycling Centers of America (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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