MMT is engaged in processing waste anti-freeze into reliable, high quality products, and is currently servicing central Florida.

The transaction is scheduled to close on 31 May 2012.

GlyEco was formed to roll-out its patent-pending glycol recycling technology which transforms a hazardous waste into profitable green products.

GlyEco chairman and CEO John Lorenz said the combination of GlyEco’s patent-pending technology and MMT’s experience in producing high quality coolant formulations provides a tremendous growth opportunity.

The advantage to GlyEco’s technology is the capability to effectively recycle all five types of available hazardous waste glycol feedstock streams to meet ASTM E1177 Type 1 standard, a purity level equivalent to refinery produced glycols.

GlyEco Technology is able to process all five sources of waste glycols, opening new avenues of supply in a market beset with constrained production and ever-increasing prices, the company claimed.