Vancouver, BC, June 18, 2014 - NovX21 (TSXV:NOV) which operates an industrial prototype plant, located near Quebec City, is showcased in video by InvestmentPitch Media. The plant recovers Platinum Group Elements, commonly known as PGMs, which refers to Platinum, Palladium and Rhodium.
InvestmentPitch.com has produced a "video news alert" discussing NovX21 Inc. If this link is not enabled, please visit www.InvestmentPitch.com and enter "NovX21" in the search box.
The company's proprietary processing chambers treat crushed catalytic converter substrates, at low temperatures, with a proprietary, patented mix of additives and chlorine gas. This resulting PGM salts are dissolved into a mild buffered solution of hydrochloric acid. The solution is then saturated, filtered and passed through ion-exchange columns that trap the PGMs. The columns are then further treated to recover the PGMs as a metallic mix which is sent to a refiner.
The Company's 50 tons per year demonstration plant has operated for more than two years on a semi-continuous basis with excellent results.
The company's patented process recovers more than 97% of the PGMs. It is not only much less capital intensive but also reduces the environmental impact, the recovery time and the energy usage by more than 90%. The qualities and properties of the technology are such that a plant could be installed in any region that can supply a minimum of 200,000 salvaged vehicle-motors per year, equivalent to 200 tons/year of catalytic converters.
The company recently announced that both European and North American suppliers of catalytic converters have sent material for processing.
Sylvain Boulanger, President & CEO stated, "Our R & D program will also aim to develop the process to recycle materials other than catalysts, including e-waste such as flat screens with PGM-coated surfaces. As our dry chlorination process operates at low temperatures, the glass would not melt before the PGMs are converted into salts."
NovX21's mission is to sustainably recover precious metals by recycling end-of-life PGM containing components while meeting global "green" standards for the automobile industry.
NovX21 also holds the mineral rights to six mining properties and has focused its exploration activities on the Menarik property in the James Bay area, in the Province of Quebec, the site of a major chromite deposit with occurrences of gold, nickel, copper and PGMs.
The use of NovX21's patented; proprietary processes for such deposits may lead to a breakthrough in low-cost primary metallurgy in the near future.
The shares are trading at $0.105, and with 102.2 million shares outstanding, the company is capitalized at $10.7 million.
For more information, please visit the company's website www.novx21.com or contact Sylvain Boulanger, President & CEO at 514-282-2110 or email info@novx21.com. The company's investor relations is handled by Nicole Blanchard of Sun International Communications, who can be reached at 450-973-6600 or by email at nicole.blanchard@isuncomm.com.
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Source: InvestmentPitch via Globenewswire
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