THE COLONY, TX--(Marketwired - July 06, 2016) - Quest Resource Holding Corporation (NASDAQ: QRHC) announced today it has added a new retailer with 77 retail outlets throughout Minnesota and Illinois to its portfolio of customers. The retailer is one of 11 multi-store components one of the largest grocery wholesalers and retail chains in the United States.
Quest designed a customized food waste recycling program that allows the retailer to recycle all food waste along with the packaging. The new program makes it extremely easy for the stores' associates to recycle, accelerates the program adoption rate and significantly reduces the potential for costly contamination. In addition to recycling the organic material, Quest will also recycle the stores' cardboard and plastics as well as manage their municipal solid waste.
Furthermore, Quest's program helps the retailer save a minimum of 17 percent by avoiding a new municipal solid waste tax. The state of Minnesota, which set a goal to recycle and compost 75 percent of solid waste by 2030, implemented new rules targeting recycling at commercial enterprises. Depending on the counties, this year, the state introduced a Solid Waste Management Tax ranging between 17 and 67 percent of the disposal fee sales price on commercial mixed municipal waste. Recyclable materials and organic waste collected separately from other garbage and delivered to a facility where they are recycled are exempt from the Solid Waste Management Tax.
"We anticipate that new recycling programs will be cost-neutral for our Minnesota customers," said Ray Hatch, Quest's CEO. "Being able to recycle all materials along with their packaging makes the decision to manage waste in an environmentally responsible manner much more appealing to corporations," Mr. Hatch added.
About Quest Resource Holding Corporation
Quest provides businesses with one-stop management programs to reuse, recycle, and dispose of a wide variety of waste streams and recyclables generated by their businesses. Quest's comprehensive reuse, recycling, and proper disposal management programs are designed to enable regional and national customers to have a single point of contact for managing a variety of waste streams and recyclables. Quest also operates environmentally based social media and online data platforms that contain information and instructions necessary to empower consumers and consumer product companies to recycle or properly dispose of household products and materials. Quest's directory of local recycling and proper disposal options empowers consumers directly and enables consumer product companies to empower their customers by giving them the guidance necessary for the proper recycling or disposal of a wide range of household products and materials, including the "why, where, and how" of recycling.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which provides a "safe harbor" for such statements in certain circumstances. The forward-looking statements include statements or expectations regarding Quest's beliefs that its custom food waste recycling program helps retailers recycle both food waste and its packaging, that it is extremely easy to use, that it accelerates the program adoption rate, that it significantly reduces the potential for costly contamination, that the program will result in customer cost savings, that Quest's recycling programs will be cost neutral for its customers in Minnesota, and that recycling material along with packaging makes the decision to manage waste in an environmentally responsible manner much more appealing to corporations. These statements are based on Quest's current expectations, estimates, projections, beliefs, and assumptions. Such statements involve significant risks and uncertainties. Actual events or results could differ materially from those discussed in the forward-looking statements as a result of various factors, including competition in the environmental services industry, the impact of the current economic environment, and other factors discussed in greater detail in Quest's filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2015. You are cautioned not to place undue reliance on such statements and to consult Quest's SEC filings for additional risks and uncertainties that may apply to Quest's business and the ownership of its securities. Quest's forward-looking statements are presented as of the date made, and Quest disclaims any duty to update such statements unless required by law to do so.