GlyEco Inc. is a green chemistry company focused on rolling out proprietary and patent-pending recycling technology. The company's branded GlyEco Technology transforms a hazardous material, such as antifreeze, into profitable green products.
More specifically, GlyEco's technology recycles used glycols. The company's process is the only process than can cleanse all five major types of waste glycols to a superior level of purity, allowing the glycols to be re-used safely. Glycols are primarily used in five industries: HVAC, automotive, airline, textiles, and medical. Currently 85% of this waste is simply disposed of in our waters.
The company announced today that it has signed a purchase agreement to buy certain assets of Recycool. This company is the dominant recycler in the Minneapolis, Minnesota area and has been collecting and processing waste glycol - primarily used antifreeze - into high quality recycled antifreeze since 1995.
This acquisition marks the start of the implementation of GlyEco's rapid growth strategy through the acquisition of existing, successful, and profitable recycling companies. The facilities acquired from Recycool will be upgraded with the company's GlyEco Technology which should improve production capacity, product quality and profitability.
For further information about GlyEco and the glycols recycling industry, please visit the company's website at glyeco.com
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