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GlyEco, Inc. Board Of Directors Elects Joe Ioia As Director

Stocks in this article: GLYE

PHOENIX, Jan. 24, 2013 /PRNewswire/ -- The Board of Directors of GlyEco, Inc. GlyEco, Inc. (OTCQB: GLYE) today announced it has elected Joe Ioia as a Director of the Company, effective immediately.

Mr. Ioia is a leader in the emerging glycol recycling industry. He has a 40-year accomplished background in the petrochemicals and petroleum lubricants industries. Mr. Ioia founded the largest ExxonMobil Distributor in the Metro New York and New Jersey area for the past 25 years. At NY Terminals II, he revamped an aging and underachieving liquid bulk storage terminal into a modern, state-of-the-art facility commonly referred to as the "crown jewel" of the regions privately held terminals. He created and operates a separate transportation business that services both NY Terminals II customers, and clients in the petroleum lubricant and petrochemicals industry.

Mr. Ioia also founded Full Circle Manufacturing, one of the largest and most sophisticated glycol recycling facilities in North America. Under his leadership, the business has grown to over $4.3 Million in estimated revenues for 2012. The company is known for its success in recycling difficult to clean hazardous waste glycols created by the automotive services industry.

GlyEco completed an integrated agreement with Full Circle Manufacturing in December 2012. The company plans to run an unprecedented processing capacity run rate of 10 Million gallons per year at the Full Circle plant during 2013.

The company intends to leverage key components of this facility to drive its plan for exponential growth in the underserved glycol recycling market. That includes state-of-the-art computerized control systems, which enables mass production while controlling quality. The location is cost beneficial and the plant has exceptional transportation logistics, a key resource in glycol recycling. The facility also has over 3 million gallons of glycol storage capacity with space available for expansion of storage and processing capacities.

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