MINNEAPOLIS, Aug. 17, 2011 /PR Newswire/ -- Appliance Recycling Centers of America, Inc. (NASDAQ: ARCI) today announced that Illinois Municipal Electric Agency (IMEA) has selected the Company to be the provider of turnkey appliance recycling services for subscribing municipals and member cooperatives in Illinois participating in the Recycle My Fridge Program. The program began August 1, 2011.
Through this program, participating electric customers who turn in operating but energy inefficient secondary refrigerators and freezers will be eligible for a $35.00 incentive for each qualifying appliance, with a maximum of two appliances per household per year. 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 Springfield, Illinois recycling center.
Edward R. (Jack) Cameron, ARCA's President and Chief Executive Officer, said: 'This will be ARCA's third large scale program in Illinois and the fifth program managed from our Springfield recycling center. We are extremely pleased to partner with IMEA to provide turnkey appliance recycling services for its subscribing municipals and member cooperatives. By capitalizing on ARCA's extensive experience in environmentally sound appliance recycling and knowledge of the Illinois area, the program will 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.
The Illinois Municipal Electric Agency (www.imea.org) is a joint action agency created in 1984. It serves 33 full requirements power sales contracts to 32 municipalities and one electric cooperative in Illinois. Members include: the municipalities of Altamont, Bethany, Breese, Bushnell, Cairo, Carlyle, Carmi, Casey, Chatham, Fairfield, Farmer City, Flora, Freeburg, Greenup, Highland, Ladd, Marshall, Mascoutah, Metropolis, Naperville, Oglesby, Peru, Princeton, Rantoul, Red Bud, Riverton, Rock Falls, Roodhouse, St. Charles, Sullivan, Waterloo, Winnetka and the Rural Electric Convenience Cooperative.
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.