Regenx Tech (CSE: RGX) (OTCQB: RGXTF), known for its precious metals recovery technologies, has commenced commercial production at its plant in Greenville, Tennessee.
From Commissioning to Production:
Following the successful installation of an expanded gas line and the necessary permit approvals, the company has transitioned from its commissioning phase to initiate commercial production operations. This move is expected to accelerate the plant’s production capabilities.
The company disclosed that a fully operational Regenx plant, equipped with four modules, has the capacity to recover up to 70,000 ounces of platinum and palladium on an annual basis.
CEO Greg Pendura stated, “With the new gas line in place, we’re equipped to utilize our technology more efficiently.” He emphasized the company’s focus on innovative solutions within the precious metals recovery sector.
Regenx Tech specializes in developing environmentally-friendly processing technologies for the recovery of precious metals. In collaboration with Davis Recycling, a prominent catalytic converter recycler in the U.S., Regenx is primarily targeting the extraction of platinum and palladium from diesel catalytic converters.
Traditionally, smelting has been the prevalent method for recovering palladium and platinum from used converters. However, Regenx provides an alternative solution, positioning it as a more environmentally-conscious choice for metal recovery. The company reports that their method can recover over 90% of the precious metals from retired catalytic converters.