INDIANAPOLIS, Feb. 10, 2021 /PRNewswire/ -- The Heritage
Group and Heritage Environmental Services, Inc. (collectively,
"Heritage"), a leader in environmental and sustainability services,
launched a new division, Heritage Battery Recycling (HBR), in late
2020 to address growing market demand for safe, sustainable
solutions for lithium-ion batteries near or at end-of-life. HBR's
goal is to recover and reuse critical battery precursor resources
that exist in finite supply across the globe.
In collaboration with Romeo
Power, Inc. ("Romeo Power")
(NYSE: RMO), an energy technology leader delivering large-scale
electrification solutions for complex commercial applications, HBR
will develop a battery reuse and recycling facility sited in the
southwestern United States.
"By working directly with Romeo
Power, we have a unique opportunity to provide a safe,
environmentally sound end-of-life strategy for commercial truck
manufacturers, commercial fleet managers and conscientious business
owners who are investing in clean energy today," said Jeff Laborsky, CEO of Heritage. "We are proud to
be part of this long-term sustainability collaboration."
"Romeo Power is thrilled to
expand our end-to-end electrification strategy through the Heritage
Battery Recycling facility" said Lionel
Selwood Jr., CEO of Romeo
Power. "We are committed to anticipating our customers'
long-term needs as they transition to electrification, and HBR will
provide them with a turnkey solution to repurpose end-of-life
batteries safely and responsibly."
To jumpstart efficiencies in transportation and logistics for
HBR's battery collection operations across North America, Heritage partnered with
Heritage-Crystal Clean, Inc. ("Crystal Clean") (Nasdaq: HCCI), a
leading provider of parts cleaning, used oil re-refining, and
hazardous and non-hazardous waste services primarily focused on
small and mid-sized customers. Crystal Clean's extensive network of
89 branch locations, advanced logistic operations and long-standing
customer relationships across the automotive sector position it as
an optimal partner for HBR.
Together, Heritage and Crystal Clean bring HBR access to over
100,000 customer locations, 2,500 knowledgeable employees, a fleet
of over 1,300 power units and 108 facility locations across
North America.
"The creation of Heritage Battery Recycling, and our partnership
with Crystal Clean, reflects our 50-year legacy of pursuing
sustainable solutions for our customers, and further demonstrates
our commitment to achieving our Environmental, Social, and
Governance (ESG) goals," said Jeff
Laborsky, CEO of Heritage. "Our two companies together
combine the strengths of Crystal Clean's advanced collection
capabilities with Heritage's safe processing expertise."
"Since its inception, Heritage-Crystal Clean has partnered with
Heritage in an effort to provide value to our customers," explained
Brian Recatto, President and CEO of
Heritage-Crystal Clean. "We're excited about our commitment to
invest in a new partnership with Heritage Battery Recycling because
it not only furthers our valuable relationship with Heritage, but
is demonstrative of our vision to protect the earth's resources and
our mission to provide environmentally sustainable solutions to our
customers.
HBR is investing in technology, partnerships and people to help
identify the highest and best use of reduced capacity electric
vehicle batteries and establishing best practices for recycling or
refurbishment. Heritage's experience with safely handling hazardous
waste and managing total byproduct programs with many auto OEMs,
makes it a natural fit for collaboration with automotive
manufacturers facing this industry-wide challenge.
Heritage announced today that Shane
Thompson has been named President of newly formed HBR.
"Shane is the right leader for Heritage Battery Recycling," said
Laborsky. "His extensive background in battery end-of-life
management makes him one of the world's leading experts in this
rapidly evolving industry. We are confident that Shane's strong
business relationships and deep understanding of the battery value
chain will quickly position Heritage Battery Recycling as a market
leader in North America."
"I was thrilled to be asked to join the team and launch Heritage
Battery Recycling," said Shane
Thompson. "We've reached an inflection point in the
electrification of vehicles across North
America – and as those spent battery units move to recycling
or reuse opportunities, Heritage Battery Recycling will be ready to
meet the demand."
About Heritage Environmental Services, Inc.
Heritage Environmental Services is a privately held,
family-owned environmental services business with more than 1,600
employees across North and Central
America. The company provides a full suite of tailored
solutions from emergency response, waste disposal, and
sustainability services to on-site support and technical solutions
to thousands of customers in hundreds of industries and verticals.
Throughout its 50-year history, Heritage Environmental Services has
prioritized the safety of its employees while pursuing its purpose
of protecting human health and the environment.
About Heritage-Crystal Clean, Inc.
Heritage-Crystal Clean, Inc. provides parts cleaning, used oil
re-refining, and hazardous and non-hazardous waste services
primarily to small and mid-sized customers in the vehicle
maintenance sector as well as manufacturers and other industrial
businesses. Our service programs include parts cleaning,
containerized waste management, used oil collection and
re-refining, vacuum truck services, waste antifreeze collection,
recycling and product sales, and field services. These services
help our customers manage their used chemicals and liquid and solid
wastes, while also helping to minimize their regulatory burdens.
Our customers include businesses involved in vehicle maintenance
operations, such as car dealerships, automotive repair shops, and
trucking firms, as well as small-to-medium sized manufacturers,
such as metal product fabricators and printers, and other
industrial businesses. Through our used oil re-refining program, we
recycle used oil into high quality lubricating base oil, and we are
a supplier to firms that produce and market finished lubricants.
Through our antifreeze program we recycle spent antifreeze and
produce a full line of virgin-quality antifreeze products.
Heritage-Crystal Clean, Inc. is headquartered in Elgin, Illinois, and operates through 89
branches serving approximately 91,000 customer locations.
About Romeo Power,
Inc.
Founded in 2016 and headquartered in Los Angeles, California, Romeo Power (NYSE: RMO) is an energy technology
leader delivering large-scale electrification solutions for complex
commercial applications. The company's suite of advanced hardware,
combined with its innovative battery management system, delivers
the safety, performance, reliability and configurability its
customers need to succeed. Romeo
Power's 113,000 square-foot manufacturing facility brings
its flexible design and development process inhouse to pack the
most energy dense modules on the market. To keep up with everything
Romeo Power, please follow the
company on social @romeopowerinc or
visit www.romeopower.com.
Heritage-Crystal Clean, Inc. Safe Harbor Statement
This release contains forward-looking statements that are based
upon current management expectations. Generally, the words "aim,"
"anticipate," "believe," "could," "estimate," "expect," "intend,"
"may," "plan," "project," "should," "will be," "will continue,"
"will likely result," "would" and similar expressions identify
forward-looking statements. These forward-looking statements
involve known and unknown risks, uncertainties and other important
factors that could cause our actual results, performance or
achievements or industry results to differ materially from any
future results, performance or achievements expressed or implied by
these forward-looking statements. These risks, uncertainties and
other important factors include, among others: developments in the
COVID-19 pandemic and the resulting impact on our business and
operations, future financial and operating results, future
disclosures of historical financial and operating results, general
economic conditions and downturns in the business cycles of
automotive repair shops, industrial manufacturing businesses and
small businesses in general; increased solvent, fuel and energy
costs and volatility in the price of crude oil, the selling price
of lubricating base oil, solvent, fuel, energy, and commodity
costs; our ability to successfully integrate businesses we acquire;
our ability to enforce our rights under the FCC Environmental
purchase agreement; our ability to pay our debt when due and comply
with our debt covenants; our ability to successfully operate our
used oil re-refinery and to cost effectively collect or purchase
used oil or generate operating results; increased market supply or
decreased demand for base oil; further consolidation and/or
declines in the United States
automotive repair and manufacturing industries; the impact of
extensive environmental, health and safety and employment laws and
regulations on our business; legislative or regulatory requirements
or changes adversely affecting our business; competition in the
industrial and hazardous waste services industries and from other
used oil processing facilities including other re-refineries;
claims and involuntary shutdowns relating to our handling of
hazardous substances; the value of our used solvents and oil
inventory, which may fluctuate significantly; our dependency on key
employees; our level of indebtedness, which could affect our
ability to fulfill our obligations, impede the implementation of
our strategy, and expose us to interest rate risk; our ability to
effectively manage our extended network of branch locations; the
control of The Heritage Group over the Company; and the risks
identified in our Annual Report on Form 10-K filed with the SEC on
March 3, 2020 and subsequent filings with the SEC. Given these
uncertainties, you are cautioned not to place undue reliance on
these forward-looking statements. We assume no obligation to update
or revise them or provide reasons why actual results may differ.
The information in this release should be read in light of such
risks and in conjunction with the consolidated financial statements
and the notes thereto included elsewhere in this release.
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SOURCE Heritage Environmental Services