PHOENIX, Oct. 16, 2014 (GLOBE NEWSWIRE) -- Sustainable glycol technologies leader GlyEco, Inc. (OTCQB:GLYE) ("GlyEco" or the "Company"), completed installation of a new proprietary distillation system at its South Carolina Processing Center, increasing capacity by 300%.
The new technology installation at GlyEco's South Carolina processing center significantly improves throughput with minimal impact to production time and costs. The unique distillation system was designed by the facility's general manager, Todd Bernard.
The increased capacity at the South Carolina facility, ideally located to service three major glycol waste producing industries, positions the Company for further expansion of its services. With increased capacity in place, GlyEco intends to focus on expanding sales in the lucrative heat transfer fluid market over the next several months. The South Carolina facility can process waste from polyester manufacturing, automotive antifreeze, and heat transfer fluid industries.
Third quarter 2014 gross sales at GlyEco's South Carolina Processing Center are expected to increase 83.5% compared to third quarter 2013.
"Our South Carolina Processing Center has shown exceptional progress during the third quarter, and we are very proud of our team on-site," stated John Lorenz, CEO of GlyEco. "Todd Bernard, our general manager in South Carolina, created a unique way to improve this plant's distillation system. He worked with engineers, developed the design, and effectively managed the build-out. The project was completed on time and under budget. We congratulate Todd and his team on a job well done."
Lorenz continued, "I believe the success in South Carolina showcases the talent and resourcefulness of our general managers. While installing the improved distillation system, the South Carolina team worked diligently to expand their business, and the results are clear, gross sales for the third quarter were up 83.5% over the same period last year. This sets an important strategic course for the coming months as the Company continues to transition from technology implementation and increasing capacity to revenue development and expanding our customer base."
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.