HVAC Breaking News / News

Nov. 20, 2012: GlyEco Closes on $3.4 Million in Funding for Glycol Recycling Expansion

PHOENIX — GlyEco Inc. announced that the company has closed on $3.4 million in funding to be used for strategic growth initiatives, including asset purchase of six glycol recyclers, initial plant expansion and upgrades, and Phase I implementation of its patent-pending GlyEco Technology™.

GlyEco said it is aggressively buying capacity to meet customer needs in an underserved market. The company stated that the use of its glycol recycling technology will improve product quality to meet ASTM Type 1 standards — indistinguishable from refinery grade materials. This technology will allow the company to offer waste glycol recycling services to additional industries, including HVACR. According to GlyEco, the majority of potential clients in these industries currently do not have a recycling option when disposing of this hazardous waste.

GlyEco noted that recycling waste glycols presents a 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. With proper handling, the company said glycols can be recycled and reused indefinitely.

For more information, visit www.glyeco.com.

Publication date: 11/19/2012

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 Energy Efficiency Forum

Highlights from the 25th annual Energy Efficiency Forum in Washington, D.C.

Podcasts

NEWSMakers: Mark Satterfield

Mark Satterfield, founder and CEO of Gentle Rain Marketing Inc. and author of “The One Week Marketing Plan” talks about his book and the importance of HVAC blogging. Posted on Sept. 19.

More Podcasts

ACHRNEWS

NEWS 09-15-14 cover

2014 September 15

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Venting R-22

The NEWS reported that a man received prison time for venting R-22. Should EPA step up enforcement?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con