MINNEAPOLIS, Feb. 3, 2011 /PRNewswire/ -- Appliance Recycling Centers of America, Inc. (Nasdaq: ARCI) today announced that Vermont Energy Investment Corporation (VEIC), which is under contract with American Municipal Power to deliver the Efficiency Smart program, has selected the Company to be the provider of turnkey services for subscribing member utilities (SMUs) participating in Efficiency Smart's Appliance Recycling Initiative. ARCA will provide refrigerator and freezer recycling services for the participating SMUs' residential electric customers in Michigan, Ohio and Pennsylvania. The program began on January 3, 2011 and will run through December 31, 2013.
Through this program, participating SMU 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 three 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. Together, the Efficiency Smart Appliance Recycling Initiative and ARCA will prevent more than 95% of the recyclable materials in old refrigerators and freezers from entering the waste stream.
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 the Efficiency Smart Appliance Recycling Initiative in Michigan, Ohio and Pennsylvania. By capitalizing on ARCA's extensive experience in environmentally sound appliance recycling, the initiative will reduce residential electricity demand, help lower their customers' energy bills and provide public environmental benefits. Additionally, we are proud to support a program that will strengthen all communities involved."
For more information on Efficiency Smart's Appliance Recycling Initiative, visit www.EfficiencySmart.org or call 1-877-341-2192.
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 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.
About Vermont Energy Investment Corporation
Vermont Energy Investment Corporation (www.veic.org) was founded in 1986 and is a non-profit corporation that provides energy conservation and renewable energy programs and projects, nationally and internationally. VEIC administers Efficiency Smart (www.efficiencysmart.org) under contract to American Municipal Power, Inc. (AMP). Efficiency Smart provides a wide range of energy-efficiency and implementation services for the municipal electric utility members of the Columbus, Ohio-based nonprofit wholesale power supplier. AMP's 128 publicly-owned municipal electric system members serve more than 570,000 customers in six states – Ohio, Pennsylvania, Michigan, Virginia, Kentucky and West Virginia.
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.