Regenx, a non-smelter company that extracts precious metals from diesel catalytic converters, is bringing its technology to the U.S. with a plant to open in Greenville, Tennessee. The technology is set to recover and recycle 90 percent of the precious metals found in diesel catalytic converters.
Regenx uses a chemical process to recover platinum and palladium from diesel catalytic converters.
Before Regenx's 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.
Regenx has also signed a joint operating agreement with Davis Recycling to extract precious metals from diesel catalytic converters.
"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."
