John Lorenz, CEO of GlyEco, is a 30 year veteran of the waste management business and sold his original business to what is now called Waste Management (WM).

Looks like he has kept a few contacts...☺

On Monday, sustainable glycol technologies leader GlyEco, Inc. (OTCQB:GLYE) and environmental solutions provider Waste Management (NYSE:WM) announced they are working together to prevent hazardous waste glycols from ending up in landfills across the United States.

Under the terms of an agreement signed earlier this year, GlyEco will pick up polluted glycol at Waste Management landfills throughout the nation. The Company has successfully completed an initial pilot program and is prepared to expand service coverage.

The waste glycol is collected and is then processed into high-quality, certified recycled glycols for use in a number of industrial applications. These glycols can be re-used and recycled multiple times, creating a more sustainable resource.

"Waste Management doesn't just talk green; they actively create new solutions and implement programs that reduce waste. We are proud to partner with them to create the first nationwide program for recycling used glycols," said John Lorenz, Chairman and CEO of GlyEco. "We've found most of the used glycols Waste Management collects are landfilled. That's a costly end-of-life strategy with very few benefits for anyone."
Mr. Lorenz continued, "This partnership is unprecedented and a big step forward for glycol recycling. We intend to prevent millions of gallons of pollution from going into our nation's landfills or being incinerated. As demand for glycol continues to exceed supply, recycling presents an inventive and smart solution."

The BEST news here? Waste Management is the MOST likely take-out for GLYE as well. Both are headquartered in greater Phoenix/Scottsdale, AZ. As mentioned Mr. Lorenz sold his last waste management company to WM years ago.

With GLYE now forecasting up to $25 million in EBITDA in 2014 this new deal with waste management giant Waste Management is great news for shareholders in multiple ways.

Source: Wall Street Journal

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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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