Catalyst Corner is pleased to announce a new Featured Company: GlyEco, Inc.
GlyEco, Inc. (OTCQB: GLYE) is a green chemistry company that collects and recycles waste glycol into a reusable product that is sold to third party customers in the automotive and industrial end-markets. GlyEco’s proprietary technology, GlyEco Technology, allows the recycling of all five types of waste glycol into a virgin-quality product usable for any glycol application. The Company is well-positioned to capitalize on their innovative technology for the recycling industry. GlyEco is led by John Lorenz, Founder of Environmental Waste of America which became Waste Management Inc. (NYSE:WM).
Glycols are man-made liquid chemicals derived from crude oil and natural gas. Glycols are used as a base chemical component in five primary industries:
1. Automotive – Glycols are used as antifreeze in vehicles and other equipment with a combustion engine.
2. HVAC - Glycols are in the heat transfer fluids used to warm and cool buildings.
3. Textiles – Glycols are used as a raw material in the manufacturing of polyester fiber and plastics (e.g. water bottles).
4. Airline – Glycols are used in aircraft deicing fluid to avoid accumulation of moisture on aircraft wings.
5. Medical – Glycols are used for equipment sterilization in the medical industry.
Most waste glycol is landfilled, sent to waste water treatment, released to surface water, or disposed of improperly, wasting an important natural resource and causing a negative effect on our environment. Because of rapid biodegradability of glycol, the U.S. Environmental Protection Agency (“EPA”) allows disposal by “release to surface waters." However, when glycols break down in water they deplete oxygen levels, which kill fish and other aquatic life. The immediate effect of exposure to ethylene glycol can mean death for humans, animals, birds, fish, and plants. There are 5 billion gallons of glycol produced annually on a global basis with growth projected at 15-20% in the foreseeable future due to Chinese demand for ethylene glycol which is necessary for textile production.
GlyEco is dedicated to conserving natural resources, limiting liability for waste generators, safeguarding the environment, and creating valuable green products. According to a Form 8-K filed on April 25th, 2013 Alicia Williams Interim CFO “indicated that the company will be profitable beginning in the third quarter of the current fiscal year. Ms. Williams projected revenues for 2013 at approximately $10 million to $12 million with an EBITDA of $1.5 million to $2 million, and revenues for 2014 to be approximately $45 million to $50 million with EBITDA of $13 million to $16 million.”
A video featuring GlyEco can be found at: www.catalystcorner.com
Further information can be found in the GLYE investor presentation in this Seeking Alpha Write-up by Dr. John Faessel or on the GlyEco website: http://www.glyeco.com