Edmonton, Alberta — Regenx, a first-to-market non-smelter company that extracts precious metals from diesel catalytic converters, is bringing its groundbreaking technology to the U.S., with the first plant to open in Greenville, Tennessee. The environmentally safe technology is set to recover and recycle 90% of the precious metals found in diesel catalytic converters.
Before Regenx’s clean technology, the method to recycle auto catalytic converters was smelting, a process involving heating and melting. But a shocking $21.2 billion USD per year of precious metal from retired diesel catalytic converters is not being recycled. They create safety and processing issues with smelters, leaving them to go un-recycled and wasted in scrap yards and landfills that further contaminate the environment.
Now, the non-smelter company Regenx – which has signed a joint operating agreement with leading catalytic converter recycler Davis Recycling to successfully extract precious metals – is set to become the leading diesel catalytic converter in the industry in a market expected to grow to $39.3 billion USD by 2025.
“Regenx offers a real solution to a growing market that hasn’t had one,” says Greg Pendura, CEO of Regenx. “I am proud to be a part of a company whose green and efficient technology will be making a difference in the world, between combating climate change and mitigating the growing shortage of precious metals across the globe.”
Regenx provides an alternative from environmentally harsh smelters to a safe and modern technology that is a more efficient way to recover the precious metals. The CEO, Greg Pendura, has more than 35 years of experience in founding, financing, and advising emerging private and public companies. Mr. Pendura spent 12 years in the public sector with Resin Systems Inc. An original founder of the company he retired in 2007 as President, CEO, and Chairman of the Board. Mr. Pendura has been with the company since 2009.
