NFS Leasing Provides $4.55MM Lease Line to GlyEco

GlyEco and its West Virginia subsidiary (d/b/a Recovery Solutions & Technologies) entered into a combined equipment finance transaction with NFS Leasing that consisted of a new offer of lease and a lease line of up to $4.55 million. According to the related 8-K filing, the new lease line will be used for certain operational equipment needed for glycol recovery and recycling operations.

GlyEco had previously entered into a master equipment lease agreement with NFS in 2017. The lease line will consist of agreed upon advance payments, a first monthly payment, a security deposit, an origination fee and 60 monthly payments, along with certain credit conditions.