Appliance Recycling Centers (ARCI) Stock Rockets On News

Appliance Recycling Centers of America ARCI Stock News

Appliance Recycling Centers of Amer Inc (NASDAQ: ARCI) is making a run for the top in the market this morning, trading on gains of more than 85% early on. The gains come after the company announced that its wholly owned subsidiary opened a new recycling facility. Here’s the scoop:

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ARCI Stock Heads Up On Recycling Center Opening

In a press release issued early this morning, Appliance Recycling Centers of America announced that its wholly owned subsidiary, ARCA Recycling, held a grand opening tour at its new Syracuse recycling center. The tour took place on Wednesday, July 24, 2019.

In the release, ARCI said that the new center will process appliances that are collected through new programs with multiple of the company’s utility partners.  In the release, the company said that it expects to recycle about 18,000 refrigerator and freezers per year.

This activity will keep approximately 1,300 tons of material out of landfills and reduce emissions of ozone-depleting substances that are found in refrigerants and foam insulations.

Those who atteneded the tour enjoyed the company’s recycling process. The process is designed to ensure that appliances are fully de-manufactured, stripped of hazardous materials, and disposed of in a safe and environmentally friendly way.

In a statement, Tom Baron, National Grid, Energy Efficiency Sr. Program Manager for ARCA, the subsidiary of ARCI, had the following to offer:

We are excited to work with ARCA on our new upstate New York Refrigerator and Freezer Recycling Program. It’s an easy way for our customers to safely and responsibly dispose of an outdated, inefficient appliance, save energy and reduce electricity costs, and earn some money too. It’s good for our customers’ wallets and it’s good for the environment by keeping the old clunkers out of landfills.

Why This Is Big News

The reason investors are so excited about Appliance Recycling Centers of America is pretty straight forward. At the end of the day, with the opening of a new recycling center, the company will be able to process 18,000 new units of refrigerators and freezers per year.

That’s huge when it comes to capacity to generate revenue. At the end of the day, the new facility will likely help the company to achieve compelling revenue growth and keeps the company online with its mission of maintaining its role as the largest appliance recycling company in the United States. Considering today’s news, ARCI is only becoming more valuable.

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