We sat down with, sponsor Regenx Tech’s (TSX-V: RGX – OTCQB: RGXTF) CEO Greg Pendura and their US division’s President Rick Purdy. The company is engaged in economically recovering large amounts of platinum and palladium from discarded diesel catalytic converters, most of which were headed for the landfill. They have first mover advantage. Purdy’s commitment to the company led him and his family’s move to the US. Impressed with the technology, we invested in shares.
Last summer we visited the company’s newly perfected pilot plant, while it was planning an industrial scale facility. Regenx’s oversubscribed rights offering enabled it to begin building its Tennessee plant. The situs was no accident; it’s located in close proximity to one of the Southeast’s leading recycling companies, thereby insuring a near endless supply of discarded diesel converters. Regenx has a huge advantage over potential competitors, who would need to build a raw material supply chain from scratch.
Regenx’s proprietary process is an example of a green technology that is ready for primetime. In an eco-friendly manner, It recovers 90+% of platinum/palladium embedded in a diesel catalytic converter. Before Regenx, the choice was to smelt the metal out in a very dirty and uneconomical process. As a result over 2/3 of diesel catalytic converters presently find their way to landfills.
That’s all about to change, with plant completion expected in Q1, production is slated for Q2 of 2023. The cash flow potential is enormous as is the scalability. We could eventually see Regenx plants pop up around the globe.
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