GlyEco signs asset purchase agreement with Recycool

PHEONIX (Scrap Monster): GlyEco Inc has signed an asset purchase agreement with Recycool, a dominant recycler in the Mineapolis, according to a press release.

Recycool has been collecting and processing waste glycol into high quality recycled antifreeze since 1995.

The company has a customer support near 400, focussed on vehicle dealers and repair shops, quick lube facilities, and governmental entities, in and around the Twin Cities metro area.

John Lorenz, Chairman and CEO of GlyEco Inc., stated that they are excited to have the Recycool group joining with their team.

He said,"They produce high quality recycled antifreeze and have a tremendous customer service ethic. Their depth of industry experience makes the business a great asset in our growth strategy."

GlyEco Technology (TM) is a breakthrough green chemistry solution for recycling used glycols. This is the only process that can cleanse all five major types of waste glycols to a superior level of purity allowing our customers to utilize recycled glycols as a more sustainable resource.

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 continues to exceed supply for ethylene glycol, largely because of explosive growth in poly fibre manufacturing to make clothing, plastic containers and plastic beverage bottles.