About GlyEco

GlyEco, Inc., a chemical company, focuses on technology development and manufacturing of coolants, additives, and related performance fluids. The company serves and supports the automotive, heavy-duty, and industrial markets. The company is a vertically integrated company, which manufactures ethylene glycol, additives, and finished fluids. Industrial Division The company’s Industrial division consists of two divisions, such as WEBA Technology Corp. (WEBA), its additives business; and Recovery Solutions & Technologies Inc. (RS&T), its glycol re-distillation plant in West Virginia. WEBA WEBA develops, manufactures and markets additive packages for the antifreeze/coolant, gas patch coolants and heat transfer industries throughout North America. WEBA is one of the major companies serving the North American additive market. WEBA's METALGUARD additive package product line includes one-step inhibitor systems, which give the company’s customers the ability to make various types of antifreeze concentrate and 50/50 coolants for all automobiles, heavy-duty diesel engines, stationary engines in gas patch and other applications. METALGUARD additive packages cover the entire range of coolant types from basic green conventional to the newest extended life OAT antifreezes of all colors. The company’s heat transfer fluid additives allow its customers to make finished heat transfer fluids for various industry applications, including all-aluminum systems. The METALGUARD heat transfer fluids include light and heavy-duty fluids, both propylene and ethylene glycol based, for various operating temperatures. These inhibitors cover the industry standard of phosphate-based inhibitors, as well as all-organic (OAT) inhibitors for specific pH range and aluminum system requirements. All of the METALGUARD products are tested at the company’s in-house laboratory facility and by third-party laboratories to assure conformance. The company uses the standards set by the American Society of Testing Materials (ASTM) for all of the company’s products. All of the company’s products pass the ASTM standards and testing for each type of product. RS&T RS&T operates a glycol re-distillation plant in West Virginia, which produces virgin quality glycol for sale to industrial customers worldwide. The RS&T facility produces antifreeze and industrial grade ethylene glycol. It is one of the major glycol re-distillation plants in North America, with production capacity of approximately 1.5 million gallons per month of concentrated ethylene glycol. The facility, located at the Dow Institute Site at Institute, West Virginia, includes five distillation columns, three wiped-film evaporators, heat exchangers, processing and storage tanks, and other processing equipment. The facility’s tanks include feedstock storage capacity of several million gallons and finished goods storage capacity of several million gallons. The plant is equipped with rail and truck unloading/loading facilities, and on-site barge loading/unloading facilities. Strategy To effectively deliver on the company’s strategy, the company offers a broad spectrum of products in its niches, focuses on non-standard innovative products, and leverages multiple distribution channels. Dispositions In January 2019, the company completed the sale of the assets of its Consumer segment, which engaged in the production and distribution of ASTM grade glycol products, primarily automotive antifreeze and specialty-blended antifreeze, for sale into the automotive and industrial end markets. Seasonality Because the demand for automotive antifreeze is higher in winter months, the company sees an increase in sales during the first and fourth quarters (year ended December 2018). Regulation As a handler of glycol, the company is subject to the requirements of the United States Occupational Safety and Health Act, and comparable state laws that regulate the protection of employee health and safety. The company also conducts interstate motor carrier operations that are subject to federal regulation by the Federal Motor Carrier Safety Administration, a unit within the United States Department of Transportation. Intellectual Property In 2013, the company filed a utility patent application for its GlyEco Technology processes with the United States Patent and Trademark Office (USPTO) claiming priority to the provisional patent application that the company filed in 2012. This utility patent application was approved and issued by the USPTO in 2015. The company maintains and uses various service marks, including ‘GlyEco’, ‘Innovative Green Chemistry’, ‘GlyEco Certified’, ‘GlyEco Technology’, and ‘METALGUARD’. In addition, the company has developed a Website and has registered www.glyeco.com as its domain name. History GlyEco, Inc. was founded in 1996. The company was incorporated in 1996.