The Revolutionary and Disruptive Technology: Initiating Coverage with Strong Buy Rating and 12X Upside

Investment Conclusion:

We are initiating coverage of GlyEco, Inc. with a Strong Buy Rating and $8.50 target price on 64.7 million shares fully diluted and 8 X $1.10 per share 2016 Free Cash Flow target forecast.

Investment Thesis:

GlyEco, Inc. is poised to revolutionize the entire $5.8 billion North American glycol market. The company’s groundbreaking, patent-pending GlyEco Technology™ converts hazardous waste glycol into premium Type 1 recycled  glycol, indistinguishable from refinery grade glycol. Refinery produced Glycol sells for roughly $5.30 (two year price average) a gallon and there are 700 million gallons of waste created in the US as a byproduct in manufacturing each year. By consolidating existing recycling facilities and creating a critical mass of both anti-freeze grade and Type 1 recycled glycol, GLYE should capture a majority of the mandated recycled glycol market share within its North American and international footprint.

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Founder and Editor-in-Chief for NBTEquitiesResearch.com. Contributor and Anchor for the Fox News Channel and Fox Business Network 2000-2013. Chairman & CEO of NBT Group, Inc., a boutique private capital investment bank and investor relations organization.

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