PHOENIX, July 10, 2014 (GLOBE NEWSWIRE) -- Sustainable glycol technologies leader GlyEco, Inc. (OTCQB:GLYE) ("GlyEco" or the "Company") is expanding service in the automotive fluids supply market from its upgraded Landover, Maryland processing center. The Company completed substantial storage capacity and throughput upgrades earlier in 2014 to facilitate this growth program.
Strategically located to service multiple major markets, including greater Washington D.C., Baltimore, and Philadelphia, the Company's Maryland processing center is GlyEco's second highest-volume facility. Expansion initiatives are projected to increase sales by more than 45% over the next several months.
"We are making great progress with our Maryland processing center, which we acquired in late 2013," stated John Lorenz, CEO of GlyEco. "It's our second largest waste glycol recycling center in terms of processing volumes and is well located to provide services to lucrative automotive related industries throughout the Mid-Atlantic region."
Lorenz continued, "We continue to see growing high demand for our antifreeze-grade recycled glycol across the eastern region, and we are expanding our geographical reach to better service customers in this area. We're also seeking to increase our sales efforts to government agencies, who are mandated to purchase engine fluids made from recycled glycols when standards-compliant materials are available. Our ability to meet the necessary quality standards of these two markets puts us in a great position to grab market share moving forward."
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.
CONTACT: Jon Cunningham RedChip Companies, Inc. Tel: 1-800-RED-CHIP (733-2447), ext. 107 Email: email@example.comSource:GlyEco, Inc.