GlyEco, Inc. (fka GLYE)

[grnbkrboy]

GlyEco (GLYE) Raises $6.2 Million To Dominate the Multi $Billion Glycol Recycling World

With the announced completion of an additional $1.7 million in financing, GlyEco (GLYE) has raised $6.2 million to maintain its rapid consolidation strategy of the multi-$billion glycol recycling space. GlyEco plans to use the proceeds from this offering to accelerate its aggressive growth plan, including investments in initial facility upgrades and increased processing capacity.

John Lorenz, chairman and CEO of GlyEco says, “Our top priority is to complete the first phase of technology upgrades and begin production of Type 1 Certified Recycled Glycols. Our customers are eagerly anticipating this new recycled product, and we intend to deliver it to them during the second quarter of 2013 or sooner.”

GlyEco is our #1 Economic Clean Technology stock for 2013. We are currently updating our financial model and research report on GLYE—they raised MORE money than we anticipated and will now grow FASTER than we anticipated. What we can say is the first quarter of 2013 SHOULD be EBITDA positive as their overhead/burn rate is very low (as in $15k a month) and ALL the acquisitions they have announced and closed are EBITDA accretive.

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http://nbtequitiesresearch.com/t/l/1AOnWXo3knHVOX9

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