GlyEco Expands Glycol Recycling Services Into Textile Industry
PHOENIX, June 5, 2013 /PRNewswire/ -- Sustainable glycol technologies leader GlyEco, Inc. (OTCQB: GLYE) ("GlyEco" or the "Company") has completed initial plant upgrades at its South Carolina plant and successfully processed and sold several thousand gallons of waste glycol sourced from the textile industry.
The worldwide textile industry is the largest consumer of monoethylene glycol, with demand exceeding 3.8 billion gallons annually. Glycols are used to create polyester fiber chips, the base material in plastic food and beverage containers, as well as polyester fabrics, carpets, and upholstery.
"We've made tremendous progress on our plant upgrades. I am very proud of what we have accomplished as a team, but I am even more excited about the opportunities that lie ahead, driven by customer needs in underserved markets," said John Lorenz, chairman and CEO of GlyEco. "We are well positioned to offer a real solution designed to help our customers create more environmentally friendly products, all while protecting their businesses from the threat of damage caused by improper waste glycol disposal."
Mr. Lorenz continued, "The waste glycol created by polyester manufacturing is difficult to clean. Most glycol recycling methods cannot remove all of the potentially deadly pollutants, while more effective processes don't make economic sense. As a result, textile manufacturers have very limited options for disposal, and at best this material ends up in a landfill. We intend to change that."
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.
For more information about GlyEco, visit http://www.glyeco.com.
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.
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SOURCE GlyEco, Inc.