Regenx (TSX.V: RGX) (OTCQB:RGXTF) is currently well placed to grow considerably in the tech sector thanks to the commercialization and development of its environmentally friendly processing technologies for the recovery of precious metals. This week the Regenx stock has been in the middle of a roll and hit 52-week highs thrice in the Canada market amidst heavy interest. We could see the same action in Texas as well.
Initially the company is focussed on the extraction of palladium and platinum from diesel catalytic converters in collaboration with Davis Recycling, its business partner. Back on April 11, the company announced that it had been awarded the occupancy permit by the relevant authorities for its first facility situated in Greeneville, Tennessee.
That was a significant development for the company since the award of the permit helped in kicking off the commissioning of Module 1. The commissioning process is going to consist of the testing of all the components and initially, it will involve the processing of batches. Eventually, the technology is going to be scaled up in stages to its maximum capacity so as to produce 2.5 tons a day. The company noted in its announcement that the entire commissioning phase was going to take as long as 90 days to be completed before the facility could hit maximum capacity.
The company’s own CleanTech solution deploys a proprietary processing and chemical technology that provides a sustainable alternative to the options which are available at the moment, like a range of smelter options, for recovering platinum and palladium. Greg Pendura, the Chief Executive Officer of the company spoke about the latest development as well. He noted that the company had managed to create a technology that is ideal for urban modern mining and at the same time promotes the ideals of the circular economy. He went on to add that he was excited at the prospect of completing the commissioning phase.