GlyEco to acquire assets of waster glycol recycler Enviro-Cool

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GlyEco to acquire assets of waster glycol recycler Enviro-Cool

By Greentech Lead America: GlyEco, a provider of
waste glycol recycling, has signed a preliminary agreement to acquire
certain assets of Enviro-Cool, a waste glycol recycler located in Norcross, GA.
The transaction is scheduled to close August 31, 2012.

This is GlyEco’s fifth acquisition announcement in 2012.
With these acquisitions, the company expects to expand its customer base and
geographical reach at each location. The company is implementing a strategy for
rapid growth through purchase of existing profitable recyclers. These
facilities will be fitted with patent-pending GlyEco Technology, improving
production capacity, product quality, and profitability.

“We look forward to welcoming the Enviro-Cool crew
to the GlyEco team. The owners are articulate, intelligent, and knowledgeable
professionals, who have built a team with enormous drive and energy. I know of
no other recycler who has reached the $1 Million gross sales mark so rapidly
and their customer service is second to none,” said John Lorenz, chairman
and CEO of GlyEco.

GlyEco plans to increase processing capability at
Enviro-Cool, potentially boosting production to a projected $5 Million in
annual gross sales by 2015. GlyEco Technology will enable the facility to
process four additional types of waste glycols, including hazardous waste from
the polyester fiber manufacturing industry.

Glycols are a liquid petrochemical produced in massive
quantities and used primarily in five industries: HVAC, Textiles, Automotive,
Airline and Medical. These industries create hazardous waste glycol each year.
Most of this waste could be recycled into useable products.

Recycling waste glycols presents an inventive solution to
glycol supply shortages and increasing costs for refinery produced materials.
GlyEco Technology is uniquely able to process all five sources of waste
glycols. With proper handling, glycols can be recycled and reused indefinitely,
creating the opportunity to utilize this valuable material as a predominately
sustainable resource.

GlyEco to buy certain assets of Evergreen Recycling

Recently, GlyEco announced it 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.

 

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