THE COLONY, TX--(Marketwired - October 11, 2016) - Quest Resource Holding Corporation (NASDAQ: QRHC), a leader in environmental, sustainability, recycling and resource management, announced today that it is now managing the landfill diversion efforts for a global American corporation that manufactures agricultural, construction and forestry equipment. Quest will initially manage the waste and recycling programs at three plants, including the company's corporate headquarters, with the intent to gradually deploy a similar program across all U.S. plants. The new account could represent a $50M revenue opportunity to the extent that the program is fully deployed.
Under the agreement, Quest will design integrated waste minimization solutions to help the company recycle 75 percent of total waste generated. Quest will manage the safe recycling of cardboard, plastic, metal, food waste, electronic waste and other recyclable materials. In addition, Quest will also manage the disposal of hazardous waste, solid waste and parts washer needs through the program.
"With this addition to our portfolio of clients, Quest now manages recycling efforts for one of the largest manufacturers in the United States," said Ray Hatch, Quest's CEO. "This account strengthens Quest's position in the industrial sector where we have the unique ability to develop innovative and impactful landfill diversion solutions for customers with complex hazardous waste and recycling needs."
Quest's holistic approach to sustainable service offerings -- encompassing evaluation, custom program design, implementation, compliance, measurement and reporting, all with a single point of contact -- along with its ability to manage comprehensive programs across the United States and Canada has made Quest a key strategic partner for Fortune® 500 companies and has helped secure up to $100M in potential additional annualized revenue since January.
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
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act. All statements other than statements of historical facts contained in this press release, including statements regarding our future operating results, future financial position, business strategy, objectives, goals, plans, prospects, and markets, and plans and objectives for future operations, are forward-looking statements. Specific forward-looking statements in this press release include the intent to gradually deploy a similar program across all 50 U.S. plants, that the account could represent a $50M revenue opportunity or more to the extent that the program is fully deployed, that Quest will design integrated waste minimization solutions to help the customer recycle 75% of the total waste generated, that Quest will manage a wide range of generated waste streams, the account strengthens Quest's position in the industrial sector, that it has a unique ability to develop innovative and impactful landfill diversion solutions for customers with complex waste and recycling needs, that Quest's holistic approach to sustainable service offerings has made Quest a key strategic partner for Fortune® 500 companies and helped secure up to $100M in potential additional annualized revenue since January. All forward-looking statements included herein are based on information available to us as of the date hereof and speak only as of such date. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. The forward-looking statements contained in or incorporated by reference into this press release reflect our views as of the date of this press release about future events and are subject to risks, uncertainties, assumptions, and changes in circumstances that may cause our actual results, performance, or achievements to differ significantly from those expressed or implied in any forward-looking statement. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, results, performance, or achievements. A number of factors could cause actual results to differ materially from those indicated by the forward-looking statements, including not being able to deploy the program across all 50 plants, a reduction in volume of the waste generated by the plants, substantial decline in the value of the recyclable material, Quest ability to provide its services in a satisfactory, cost effective manner, and other risks detailed from time to time in our reports to the SEC, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2015.