MINNEAPOLIS, Jan. 18, 2012 /PRNewswire/ -- Appliance Recycling Centers of America, Inc. (NASDAQ: ARCI) today announced that its contract with Xcel Energy to provide refrigerator recycling services for the utility's residential electric customers in Colorado, Minnesota and New Mexico has been extended through December 31, 2014.
Through this energy efficiency program, an Xcel Energy customer in Colorado, Minnesota or New Mexico who turns in an old, operating secondary refrigerator will be eligible to receive an incentive check. Colorado residents are eligible for a $50 incentive; Minnesota residents are eligible for a $35 incentive; and New Mexico residents are eligible for a $75 incentive. The incentive, which is to be paid by Xcel Energy, is designed to offset the costs normally incurred when disposing of an old refrigerator, as well as the costs associated with running an inefficient secondary refrigerator.
Edward R. (Jack) Cameron, ARCA's President and Chief Executive Officer, said: 'We have enjoyed providing turnkey refrigerator recycling services for Xcel Energy since 2009 in New Mexico and Colorado, and since 2010 in Minnesota. We are extremely pleased that the program was extended through 2014 and look forward to continuing to help reduce residential electricity demand while providing public environmental benefits in Colorado, Minnesota and New Mexico.'
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 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 appliance 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 Xcel Energy
Xcel Energy (NYSE: XEL) is a major U.S. electricity and natural gas company that provides a comprehensive portfolio of energy-related products and services to 3.3 million electricity customers and 1.8 million natural gas customers through its regulated operating companies in eight Western and Midwestern states. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.
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