MINNEAPOLIS, Aug. 30, 2011 /PR Newswire/ -- Appliance Recycling Centers of America, Inc. (NASDAQ: ARCI) today announced that Orange and Rockland Utilities, Inc. (O&R) has selected the Company to be the provider of turnkey appliance recycling services for O&R's Recycle and Cash In Program.
Through this program, O&R electric customers who turn in operating but old inefficient secondary refrigerators and freezers will be eligible for a $50.00 rebate for each qualifying appliance. An additional incentive, provided by O&R, will also include three (3) CFL bulbs(i) to help promote energy efficiency. ARCA will recycle all units with its state-of-the-art recycling equipment located in its regional east coast recycling facility.
Edward R. (Jack) Cameron, ARCA's President and Chief Executive Officer, said: 'This will be ARCA's third program in New York. O&R has taken incredible initiative on promoting the benefits of the program and we are looking forward to providing a comprehensive solution for their appliance recycling needs. By capitalizing on ARCA's innovative technologies and customer-centric focus, the program will help lower their customers' energy bills, reduce greenhouse gas emissions and provide a public benefit to all 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 Orange and Rockland Utilities, Inc. (O&R)
Orange and Rockland Utilities, Inc. (O&R), a wholly owned subsidiary of Consolidated Edison, Inc., one of the nation's largest investor-owned energy companies, is a regulated utility. It provides electric service to approximately 300,000 customers in southeastern New York State (where its franchise name is Orange & Rockland), northern New Jersey (where it's Rockland Electric Company) and northeastern Pennsylvania (where it's Pike County Light & Power Company) and natural gas service to approximately 130,000 customers in New York and Pennsylvania.
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.
(i)There is a limit of three bulbs per household.
SOURCE Appliance Recycling Centers of America, Inc.