GlyEco to buy certain assets of Evergreen Recycling

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GlyEco to buy certain assets of Evergreen Recycling

Greentech Lead America: GlyEco, a provider of waste
glycol recycling, will buy certain assets of Evergreen Recycling, a glycol
recycling company.

Evergreen Recycling has been servicing the waste
automotive antifreeze industry. Its owner Tom Shiveley, who has operated the
business while maintaining his career as an expert in industrial waste water
treatment with the Ford Motor, will join GlyEco as general manager of the
Indiana facility.

GlyEco is implementing a strategy for growth through the
acquisition of profitable recyclers. These facilities will be upgraded with
GlyEco Technology, improving production capacity, product quality and
profitability. The company expects to expand its customer base and geographical
reach at each location.

In the United States, industries like HVAC, textiles,
automotive, airline and medical create approximately 700 million Gallons of
hazardous waste glycol each year. Over 85 percent of this liquid waste is
disposed of in our surface waters – which can have devastating results for
aquatic life.

World-wide consumption for refinery produced ethylene
glycol is over 5 billion gallons per year, with growth expected to exceed 350
Million gallons every year for the next decade. Demand in China exceeds supply
and currently tops 2.1 Billion gallons each year.

“This acquisition of Evergreen Recycling further
positions GlyEco at the cutting edge of an emerging industry of profitable
Cleantech businesses,” said John Lorenz, Chairman and CEO of GlyEco.

“They are a talented, hardworking and resourceful
group with a growing clientele. Shiveley is particularly knowledgeable in
equipment installation and plant operations. He brings in-depth experience in
liquid waste treatment. Paired with GlyEco Technology, we expect this team to
show explosive growth in the near future,” Lorenz added.

GlyEco Technology is the only process that can cleanse
all five major types of waste glycols to a meet ASTM E1177 Type 1. This
superior level of purity allows customers to utilize recycled glycols as a more
sustainable resource. GlyEco Technology gives customers a way to reduce waste
while caring for the environment at no additional cost to them.

GlyEco Technology ensures consistently clean, uniform
quality recycled glycols with independent lab testing to document results.

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