"Company") appointed its SVP Sales, Mergers and Acquisitions, Todd
Smith, as its new chief operating officer.
Mr. Smith brings more than 20 years of glycol recycling experience to
his new role as COO of the Company. Previously, as an owner and
operator, Mr. Smith grew a glycol recycling business to $4 million in
annual revenue, and he was nominated in 2000 and 2003 for the SBA's
Small Business Entrepreneur of the Year Award. Mr. Smith is one of the
founders of GlyEco and has served as its SVP Sales, Mergers and
Acquisitions since 2010.
"Todd has led the successful completion and integration of seven key
acquisitions for GlyEco," stated John Lorenz, chairman and CEO of
GlyEco. "His involvement in the development of many of our company
programs, including our sales, marketing, operations, and regulatory
compliance systems, provides a solid foundation for his new role. I
look forward to working closely with Todd as we begin to ramp
production of recycled refinery-grade glycol."
GlyEco recently received independent third-party lab verification that
confirms the Company's ability to recycle waste glycol, a hazardous
material, to refinery-grade glycol standards. GlyEco is branding its
Type EG-1 compliant product as GlyEco Certified T1 Recycled Glycol.
Mr. Lorenz continued, "In the U.S. alone, we have a $5 billion market
opportunity with our proprietary technology for producing
refinery-grade recycled glycol. Our production capacity continues to
increase through ongoing plant upgrades at our network of facilities,
and with commercial quantities already being produced, I believe GlyEco
is positioned for substantial growth in 2014."