Welcome!

News Feed Item

CORRECTION/Precious Metals Recovery: NovX21 Selects Thetford Mines as the Site of its New Plant

MONTREAL, QUEBEC -- (Marketwired) -- 06/25/14 -- This document corrects and replaces the press release that was sent today at 2:00 p.m. EDT. Please note that the contact information has been changed.

NovX21 Inc. (TSX VENTURE: NOV) is pleased to announce the signature of an agreement with Corporation d'initiative et de developpement economique de la Ville de Thetford Mines for the development of Quebec's first precious metals recycling plant. The agreement, which will see NovX21's new plant set up in an existing building in the Thetford Mines industrial park, is a milestone on the road to commercial-scale deployment of NovX21's patented technology for the recovery of precious platinum-group metals (PGMs) from end-of-life vehicles.

"We looked at multiple options for the site of the new plant, both in Quebec and elsewhere, and Thetford Mines was the obvious choice, particularly given its strategic location and the availability of skilled labour in the region, but also because of its vibrancy and the entrepreneurial attitude of its representatives," said Sylvain Boulanger, NovX21's President and CEO.

Quebec-based NovX21 has developed, patented and implemented an innovative, sustainable green technology for the recycling of catalytic converters, a key component of vehicle pollution control systems. The Company's quick, clean, affordable, energy-efficient process allows PGMs to be recovered and reused, along with almost all the components(1) in the manufacture of catalytic converters.

NovX21's solution coincides with the convergence of a strong precious metals market and the global automobile market, with the latter being called upon to meet increasingly green standards. Recycling now plays a key role for many automotive industry players, from vehicle production through to vehicle end-of-life. In this context, the global PGM recycling market is expected to grow by 8.2% to $9 billion by 2018.(2)

The technology developed by NovX21 also opens the door to R&D activities aimed at adapting its facilities to recover other metals, for use in a range of industries that generate large quantities of reusable components, such as electronics.


(1) Catalytic converters are composed of a ceramic substrate coated with
    three elements (platinum, palladium and rhodium), commonly referred to
    as the platinum-group metals (PGMs).

(2) Global market for platinum, palladium and other platinum group metals
    recycling, Innovative Research and Products (IRAP)

"NovX21 has a proprietary technology. We are one of the companies that will enable Quebec to play a role in the commercial development of innovative, sustainable technologies and share in the associated economic benefits. In the current PGM market, NovX21 is aiming to become a stable source of supply," added Mr. Boulanger.

About NovX21

NovX21 operates an industrial prototype plant near Quebec City in St-Augustin-de-Desmaures for the recovery of Platinum Group Metals (Platinum, Palladium and Rhodium, or PGMs). Its patented dry chlorination process yields more than 97% PGM recovery, and is quick, clean, affordable and energy efficient. NovX21's mission is to sustainably recover and recycle end-of- life precious metals while meeting the global greener standards for the automobile industry. To learn more, visit www.novx21.com.

Source: NovX21 Inc.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2017 New York. The 20th Cloud Expo and 7th @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Internet to enable us all to im...
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Effectively SMBs and government programs must address compounded regulatory compliance requirements. The most recent are Controlled Unclassified Information and the EU's GDPR have Board Level implications. Managing sensitive data protection will likely result in acquisition criteria, demonstration requests and new requirements. Developers, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by incorporating changes. In...
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
"Qosmos has launched L7Viewer, a network traffic analysis tool, so it analyzes all the traffic between the virtual machine and the data center and the virtual machine and the external world," stated Sebastien Synold, Product Line Manager at Qosmos, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Phil Hombledal, Solution Architect at CollabNet, discussed how customers are able to achieve a level of transparency that e...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
"Coalfire is a cyber-risk, security and compliance assessment and advisory services firm. We do a lot of work with the cloud service provider community," explained Ryan McGowan, Vice President, Sales (West) at Coalfire Systems, Inc., in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.