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GlyEco (GLYE) 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."
For an exclusive look into GlyEco, check out our interview with CEO John Lorenz and our full report.
Source: GlobeNewswire
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