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When Power Companies Underwrite Appliance Recycling (ARCI, XEL)

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By Douglas A. McIntyre Updated Published
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Appliance Recycling Centers of America Inc. (NASDAQ: ARCI) is far from a household name.  Xcel Energy, Inc. (NYSE: XEL) is known, literally, if you live in parts of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin.  The large utility has engaged the tiny company to provide refrigerator recycling services for its residential electric customers in Colorado and New Mexico starting on June 1, 2009 through December 31, 2010.

The utility is paying $35.00 per refrigerator for those customers turning in inefficient refrigerators for newer energy efficient models.

As of the end of 2008, Xcel provided electricity services to approximately 3,374,772 customers and natural gas services to approximately 1,868,916 customers. ARCA currently provides services for 19 other electric utility programs in the U.S. and Canada.

Appliance Recycling Centers is seeing a boost from the news, but the volume is still very thin.  Shares are up close to 20% at $2.00, and the 52-week trading range is $1.02 to $8.00.

JON C. OGG
MAY 26, 2009

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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