GlyEco has inked an acquisition contract to purchase specific assets of Recycool. Recycool is a recycling firm in the Minneapolis, MN region that gathers and processes waste glycol. The founders and the recycling team of Recycool will continue operation of the Minnesota plant.
This acquisition of Recycool highlights the fact that the company has begun implementing its quick growth strategy by acquiring currently profitable recyclers. The patent-pending GlyEco technology will be used to upgrade the purchased plants, hence enhancing product quality, production potential and profitability. GlyEco is looking forward to extend its geographical reach and customer base at each of its locations.
GlyEco technology is an eco-friendly solution for recycling of used glycols. All five main types of used glycols can be cleansed by this method to a high purity level that allows the clients to use recycled glycols as a sustainable source. The customers can thus minimize waste through this technology, at the same time show their concern to environmental issues without incurring any added cost.
By using this GlyEco technology, it is possible to obtain clean recycled glycols with uniform quality. These recycled materials meet or surpass ASTM purity standards.
Glycols, a liquid petrochemical, are initially used in industries such as airline, automotive, HVAC, medical and textiles. These industries in the US produce around 700 M gallons of harmful waste glycol annually. Maximum of glycol waste can be recycled into useful products, but disposal of 85% of glycol liquid waste into the surface waters is being done.
There is a continuous demand for the ethylene glycol supply, as it is increasingly used in poly fiber manufacturing in order to make plastic containers, clothing, and plastic beverage bottles. The demand is expected to increase significantly in the future.