Bimax Inc. has agreed to pay a $36,455 penalty to settle alleged violations of hazardous waste regulations at its chemical manufacturing facility in Glen Rock.

The U.S. Environmental Protection Agency on Tuesday announced the facility at 158 Industrial Road will also spend $305,000 to install a system that is expected to eliminate 99 percent of the hazardous air pollutants emitted from the facility.

In a March 2011 inspection at Bimax, the EPA noted hazardous waste, including solvents, that was improperly stored in violation of the Resource Conservation and Recovery Act, the federal law governing the treatment, storage and disposal of hazardous waste.