MINNEAPOLIS, Jan. 4 /PRNewswire-FirstCall/ -- Appliance Recycling Centers of America, Inc. (Nasdaq: ARCI) today announced that it has been awarded a contract by ICF International to provide refrigerator and freezer recycling services for Southern Maryland Electrical Cooperative (SMECO) customer-members. The program is scheduled to begin on January 4, 2010 and run through December 31, 2011.
Through this program, participating utility customers who turn in operating but energy inefficient refrigerators and freezers will be eligible for a $50.00 incentive check for each qualifying appliance, with a maximum of two units per year. The incentive, which will be paid by SMECO, is designed to offset the costs normally incurred when disposing of an old refrigerator or freezer, often in favor of a new and more energy efficient model.
Edward R. (Jack) Cameron, ARCA's President and Chief Executive Officer, said: "We are extremely pleased to have the opportunity to provide environmentally sound, turnkey appliance recycling services for SMECO and its customer-members in Southern Maryland. This energy efficiency program will be the second appliance recycling program ARCA provides services for in Maryland. In today's difficult economy, SMECO's customer-members will benefit from a reduction in their household energy usage and the $50.00 incentive SMECO will provide through the program."
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 150 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.
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.