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GE Enters Appliance Recycling Partnership

NEW YORK ( TheStreet) -- General Electric (GE - Get Report) 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 - Get Report) 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.

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Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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