Glycol recycling company GlyEco Inc. has bought another recycling company of the hazardous waste material, Full Circle Manufacturing Inc., for an undisclosed amount.
Phoenix-based GlyEco said in a news release that Full Circle, of Elizabeth, N.J., specializes in its ability to recycle particularly difficult-to-clean hazardous waste from the automotive services industry. One of North America's largest glycol recycling companies, its revenue is estimated to be $3.7 million in 2011, with waste glycol processing volumes exceeding 1.2 million gallons.
GlyEco expects to complete the deal June 30. GlyEco plans to increase processing capability to 10 million gallons per year during the installation of its GlyEco technology. The plant will produce ASTM E1177A Type 1 recycled glycols at the Elizabeth facility. It also will expand into processing more types of waste glycol, said John Lorenz, GlyEco chairman and CEO.
Glycols are a liquid petrochemical produced in large quantities and used primarily in five industries: heating, ventilation and air conditioning; textiles; automotive; airline; and medical. In the United States, these industries create approximately 700 million gallons of hazardous waste glycol each year, and 85 percent of it is disposed into surface waters, although most could be recycled, the company said.