June 30, 2014
The Montreal-based NovX21 is establishing in an existing facility Quebec’s first precious metals recycling plant, using NovX21’s technology for the recovery of platinum-group metals (PGMs) from used vehicles, typically for catalytic converters. NovX21 is partnering with Corporation d'initiative et de développement économique de la Ville de Thetford Mines, according to a news release.
The technology allows for the recycling of PGMs from nearly all catalytic converters, the company said. It expects the global PGM recycling market to grow by 8.2 percent to $9 billion by 2018.
The NovX21 technology also can be adapted to recover other metals for use in a range of industries.