PHOENIX, June 17, 2014 (GLOBE NEWSWIRE) -- Sustainable glycol technologies leader GlyEco, Inc. (OTCQB:GLYE) ("GlyEco" or the "Company") increased its waste glycol recycling capacity 400% at its Minnesota processing center.
During the first quarter, GlyEco relocated its Minnesota facility from a 2,000 square foot space to a 10,000 square foot stand-alone building which provides improved logistics for large volume operations. Additionally, the Company completed a series of technology and equipment upgrades, including new main circulation equipment, an advanced pumping system, and secondary containment system.
"Our recent upgrades at this facility enable us to produce larger batches of recycled glycol from multiple new waste streams," stated John Lorenz, CEO of GlyEco. "We can now process ethylene and propylene waste glycols as well as ethylene oxide waste in Minnesota. We intend to ramp sales by expanding our services into the heat transfer fluids and aircraft deicing waste markets. We also intend to service a larger geographic territory at this facility."
The Minnesota processing center in conveniently located to service some provinces in the Canadian market where waste glycol disposal is strictly regulated.
"We are very proud of the GlyEco team in Minnesota. They are a very experienced, knowledgeable and talented group, and they were able to relocate their equipment and operations with minimal downtime," continued Lorenz. "The work we completed over the past six months enables us to broaden GlyEco's scope of customers, both geographically and into new industries. During the third quarter, we plan to ramp up production to hit forecasted capacity during the second half of 2014."
About GlyEco
GlyEco is a green chemistry company with a patent-pending technology for transforming a hazardous waste into green products. GlyEco Technology™ has the unique ability to clean the polluted glycols from all five waste-producing industries: HVAC, Textiles, Automotive, Airline and Medical. This technology recycles waste glycol to meet ASTM Type 1 specifications – the same level of purity expected of refinery-grade glycols.
This patent-pending technology enables our clients to handle the removal of their waste glycol in a responsible and environmentally safe manner. Our clients can treat glycols as a more sustainable resource, recycling and re-using waste glycols repeatedly. Since most polluted glycol is disposed of in our surface waters - which can have devastating results for the environment, especially aquatic life - the GlyEco Technology™ solution gives our customers a way to reduce waste while caring for the environment, while reducing their costs.
About Glycol Recycling
Recycling waste glycols presents an inventive solution to supply shortages and increasing costs for refinery-produced material. Global consumption for refinery-produced ethylene glycol is over 5.5 billion gallons per year and climbing. GlyEco Technology™ is uniquely able to process all five sources of waste glycols, opening new avenues of supply. With proper handling, glycols can be recycled and reused indefinitely, creating the opportunity to utilize this valuable material as a predominately sustainable resource.
Special Note Concerning Forward-Looking Statements
This release contains statements that may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. These statements regard the intent, belief, and expectations of the Company. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, they involve risks and uncertainties, and their results may differ materially.