GLYE bullish news today.....In addition, after a string of acquisitions in the last year, look for accelerating revenues on this fast growing recycling play. GlyEco (GLYE) Begins Their Second Phase Of Expansion In New Jersey By Tobin Smith | February 12, 2014, 12:21pm GMT . GlyEco (GLYE) has now begun its second phase of expansion at its New Jersey processing center to meeting increasing customer demand for its refinery-grade recycled glycol. The upgrades currently underway will further expand the Companys waste glycol processing capacity and storage capabilities. Additional on-site storage enables GlyEco to increase its batch processing flexibility, which the company believes will lead to improved margins. Were thrilled with the increasing demand were seeing from customers for our Type 1 compliant recycled glycol, state John Lorenz, chairman and CEO of GlyEco. By quickly moving ahead with this next phase of upgrades, were further establishing our leadership position in the industry. There are approximately 700 million gallons of waste glycols produced each year in the U.S. Increasing our processing capacity allows to take more market share more quickly, while the added storage capabilities will be a major profitability driver for the Company, leading to strong shareholder value improvements in the months and quarters ahead. Mr. Lorenz added, We began producing and selling our GlyEco Certified T1 product in commercial quantities during the fourth quarter of 2013. With the added benefit of independent third-party certification of the quality of our recycled product, which is indistinguishable from virgin-grade glycol, weve been able to ramp sales efforts substantially. The positive feedback were receiving from our growing list of customers is highly encouraging as we seek to capitalize on what we estimate to be a $5 billion domestic market opportunity. For an exclusive look into GlyEco, check out our exclusive interview with CEO John Lorenz nbtequitiesresearch/video/nbt-glyeco-1 and our full report nbtequitiesresearch/report/the-revolutionary-and-disruptive-technology-initiating-coverage-with-strong-buy-rating-and-12x-upside Source: GlobeNewswire Disclaimer
Posted on: Thu, 13 Feb 2014 19:03:28 +0000
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