GlyEco, Inc. (OTCPK:GLYE) announced that it has entered into subscription agreement for the private placement of 10% unsecured promissory notes and common stock purchase warrants common stock purchase warrants to purchase up to 12,500,000 shares of its common stock, par value $0.0001 per shares for the maximum gross proceeds of $2,500,000 on April 6, 2018. Each of the notes will mature thirteen months from their issuance date. The note bears interest rate of 10% per annum. The securities were sold in reliance upon exemptions from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended and Rule 506 of Regulation D promulgated under the Securities Act . On the same date the company issued promissory notes for an aggregate principal amount of $1,000,000 each and warrants to purchase an aggregate of 5,000,000 shares of common stock to two Institutional Investors.