GlyEco, Inc. (OTCPK:GLYE) signed an agreement to acquire WEBA Technology Corp. and 96% stake in Recovery Solutions & Technologies Inc. for $5.3 million on December 27, 2016. In related transaction, RS&T has signed an agreement to purchase certain glycol distillation assets from Union Carbide Corporation on December 27, 2016. Under the terms of agreement, GlyEco, Inc. paid $0.15 million in cash and $2.65 million in 8% promissory notes. In addition, the sellers of WEBA Technology Corp may be entitled to receive earn-out payments of up to an aggregate of $2.5 million for calendar years 2017, 2018, and 2019 based upon terms set forth in the WEBA SPA. The stake in Solutions & Technologies Inc. has been acquired for $360 in cash. GlyEco, Inc. expects to finance these transactions with cash on hand and debt, including a private placement of notes. GlyEco, Inc. (OTCPK:GLYE) completed the acquisition of WEBA Technology Corp and Recovery Solutions & Technologies Inc on December 27, 2016.