NEW YORK (TheStreet) -- General Electric (GE) aims to cool global warming by minimizing the waste of discarded refrigerators. On Tuesday, GE became the first appliance maker to sign on to the U.S. Environmental Protection Agency's voluntary Responsible Appliance Disposal (RAD) program.
According to GE, 9 million refrigerators are trashed in the U.S. each year. The appliances are usually torn apart to reclaim only the metal, leaving the insulating foam to go to the landfill, emitting greenhouse gases and other environmentally harmful substances in the process.
As part of partnership, GE will work with Appliance Recycling Centers of America (ARCI) to reclaim 95% of the insulating foam, resulting in an 85% reduction in the typical landfill waste of a used refrigerator, GE said in a statement.
Drusilla Hofford, an EPA director said GE and ARCA's efforts will also "significantly reduce" greenhouse gas and ozone-depleting substance emissions.ARCA President and CEO Jack Cameron said the company is investing in advanced appliance recycling technology from UNTHA Recycling Technology, which will allow it to capture harmful blowing agents in refrigeration insulation. "The technology we're investing in -- a precise, sealed and fully-automated refrigerator recycling system -- will be the first URT system in North America," Cameron said. "With GE's logistics expertise and customer relationships and ARCA's investment in this leading-edge technology, this partnership is a game-changer for U.S. appliance recycling." Shares of Appliance Recycling Centers of America were up by 2.9% at $3.50 and GE's stock was ahead by 1.7% at $21.22. -- Written by Melinda Peer in New York. >To contact the writer of this article, click here: Melinda Peer. >To follow the writer on Twitter, go to http://twitter.com/mpeer_greennews. >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV