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glyeco inc (GLYE) Key Developments

GlyEco, Inc. Announces Management Appointments

GlyEco, Inc. announced its board has appointed David Ide as interim CEO and President and Dwight Mamanteo as a Non-Executive Chairman of the Board. The appointments, part of GlyEco's leadership transition plan, prepare the company for its next phase of growth. Mr. Ide brings a wealth of experience and capabilities to GlyEco as a technology entrepreneur and an experienced CEO, Chairman, patented inventor, and Director. David has served as a Non-Executive Chairman, Independent Director, Investor, and Advisor to technology and start-up ventures. Since 2004, Mamanteo has served as a Portfolio Manager at Wynnefield Capital, Inc. In addition, Mamanteo serves on the Board of Directors of multiple NASDAQ-listed companies, including MAM Software Group.

GlyEco, Inc. Presents at RedChip Global Online CEO Conference, Jan-29-2015 01:30 PM

GlyEco, Inc. Presents at RedChip Global Online CEO Conference, Jan-29-2015 01:30 PM.

GlyEco Plans Acquisitions

GlyEco, Inc. (OTCPK:GLYE) will continue to explore additional acquisitions and to create strategic alliances with companies producing or aggregating waste glycol.

GlyEco, Inc. Elects David Ide as New Board Member

GlyEco, Inc. announced that its shareholders elected a new board member, David Ide, at the company's annual shareholder meeting in Phoenix, Arizona, on October 24, 2014. As a successful technology entrepreneur and an experienced CEO, chairman, patented inventor, and director, David Ide brings a wealth of capabilities to the company's board. Since August 2010, Mr. Ide has served as an independent director, investor, and advisor to technology start-ups, including Spindle, Inc.

GlyEco, Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

GlyEco, Inc. announced earnings results for the third quarter and nine months ended September 30, 2014. For the third quarter ended September 30, 2014, revenue increased 10% to $1.3 million, compared to $1.2 million for the year-ago period. The increase in revenue was due to increased production capabilities and corresponding sales from new facilities added in 2013. The Company realized a profit margin of (15%), compared to (3%) for the year-ago period. The decrease in gross profit was primarily due to continued operating costs and increased investment in staffing, quality control, and other related expenses in preparation for the New Jersey Processing Center to transition to producing high volumes of T1TM material from multiple types of waste glycols. Net sales for the nine-months ended September 30 increased 19% to $4.5 million, as compared to $3.8 million for the same period 2013.

 

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