GlyEco, Inc. Announces Leadership Changes to Drive Ongoing Turnaround

PHOENIX, AZ / ACCESSWIRE / October 1, 2015 / A leader in sustainable glycol technologies, GlyEco, Inc. (“GlyEco” or the “Company”) (GLYE), announced immediate changes to its executive leadership team that will help the Company accelerate its turnaround.

Todd Smith, the Company’s Chief Operating Officer (COO), will become Executive Vice President of Sales, a role that will now include responsibility for the coordinated sales and marketing development of the Company’s portfolio of antifreeze, high performance, and specialty-blended solutions. Todd Bernard, Managing Partner of the Company’s South Carolina processing center, will take on the new role of Vice President of Field Operations, a role that will focus on coordinating best operational practices and growth strategies for the Company’s current and expanding footprint of processing centers.

“Todd Smith has been instrumental in positioning our national retail initiatives,” stated David Ide, the Company’s Interim Chief Executive Officer and President. “We have added three table top retail brands to our portfolio of customers since March, and we believe this will continue beyond Q4 and into 2016.”

In a separate organizational move, Grant Sahag has transitioned from lead project management to the Company’s Executive Vice President and Chief Information Officer, a role that will provide leadership to the Company’s strategic and analytics teams, in order to support the expansion and integration of the Company’s Quality Control & Assurance Program, field operation technology, financial systems, and GlyEco University, its intellectual property and education platform.

“We are focused on reinforcing the proper foundation of systems, procedures, and personnel to support expansion and the launch of big ideas,” said Mr. Sahag.

The Company has also completed the leadership transition within the finance and accounting offices with the advancement of Maria Tellez, formerly the Company’s Controller, to Vice President of Finance overseeing the Company’s financial reporting.

“The next few quarters require our team to focus on the growth of our business and providing quality frontline support to new and existing clients,” stated Mr. Ide. “We are confident in our ability to meet the needs of our current and growing roster of national retail and traditional local automotive customers. The changes we have made internally create the proper swim lanes for the team to execute on their greatest talents.”

“One of the benefits of having a deep and talented executive bench is that we can put people with the right skills in the right jobs at the right moments,” said Mr. Ide. “This is especially important when our fragmented industry is undergoing profound change in quality, reach, and service, and we as a Company need to rapidly respond with fresh ideas and bold execution. I’m confident that the changes we announced today will speed our journey to a successful turnaround.

About GlyEco, Inc.

GlyEco collects and recycles waste glycol streams into reusable glycol products that are sold to third party customers in the automotive and industrial end-markets in the United States. Our proprietary and patent pending technology allows us to recycle all five major types of waste glycol into high-quality products usable in any glycol application. We are dedicated to being the standard in the glycol industry by providing the highest-quality products, services, and technology possible to our customers.

For further information, please visit: http://www.glyeco.com

To partner or to start a project with us, please visit: Start a Project with GlyEco!

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the words “believe,” “anticipate,” “expect,” “intend,” “estimate,” and similar expressions. All statements in this document regarding the future outlook related to GlyEco, Inc. are forward-looking statements. Such statements are based on the current expectations, beliefs, estimates and projections of management and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements including the risk that the future data will not be as favorable as the initial results. Additional uncertainties and risks are described in our most recent Annual Report on Form 10-K. For a more detailed discussion of factors that affect GlyEco’s operations, please refer our filings with the Securities and Exchange Commission (“SEC”). Copies of these filings are available through the SEC website at http://www.sec.gov. All forward-looking statements are based upon information available to us on the date hereof, and GlyEco undertakes no obligation to update this forward-looking information.

Contact:

GlyEco, Inc.
Dwight Mamanteo
Non-Executive Chairman
dwight@glyeco.com
866-960-1539 ext. 703

SOURCE: GlyEco, Inc.

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