MINNEAPOLIS, Aug. 31, 2011 /PR Newswire/ -- Appliance Recycling Centers of America, Inc. (NASDAQ: ARCI) today announced that GreenCo Solutions, Inc. (GreenCo) has selected the Company to be the provider of turnkey appliance recycling services for subscribing electric cooperatives in North Carolina participating in the Fridge & Freezer Farewell Program. The program is set to begin September 1, 2011 and will run through December 31, 2014.
Through this program, participating electric cooperative customers who turn in operating but energy inefficient secondary refrigerators and freezers will be eligible for a $50.00 incentive for each qualifying appliance, with a maximum of two appliances per household. ARCA will perform the in-home collection of qualifying refrigerators and freezers and recycle the units according to the Environmental Protection Agency (EPA) guidelines at the established Morrisville, North Carolina recycling center.
Edward R. (Jack) Cameron, ARCA's President and Chief Executive Officer, said: 'This will be ARCA's second large scale program in North Carolina and we are pleased to partner with GreenCo to provide turnkey appliance recycling services for its electric cooperatives and customers. By capitalizing on ARCA's extensive experience in environmentally sound appliance recycling, the program will reduce residential electricity demand, help lower their customers' energy bills and strengthen all communities involved.'
ARCA (www.ARCAInc.com), one of the nation's largest recyclers of major household appliances for the energy conservation programs of electric utilities, currently provides services for more than 250 utility programs in the U.S. and Canada. Toxic chemicals and environmentally harmful materials such as ozone-depleting refrigerants, PCBs, mercury and oil are carefully recovered in the decommissioning process for destruction or disposal, preventing them from contaminating soil, air and water resources. The company is also the exclusive North American distributor for UNTHA Recycling Technology (URT), a materials recovery system for household refrigeration appliances.
About GreenCo Solutions, Inc.
Founded in 2008, GreenCo Solutions, Inc. is a green services company owned by North Carolina's electric cooperatives. GreenCo Solutions was created to help members meet their energy efficiency and renewable energy goals in a comprehensive, balanced, and collaborative manner. Today, GreenCo Solutions is helping the electric cooperatives develop energy efficiency programs, evaluate renewable energy projects, and meet regulatory and compliance milestones.
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. 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.
SOURCE Appliance Recycling Centers of America, Inc.