NovX21's Quebec Plant Will Be Fed by European and North American Catalytic Converters Suppliers
MONTREAL, QUEBEC--(Marketwired - May 20, 2014) - NovX21 Inc. (TSX VENTURE:NOV) is pleased to announce that European and North American suppliers of catalytic converters met in recent months have expressed their interest in NovX21's technology by sending material to the Saint-Augustin-de-Desmaures plant. This supply, which will be processed at our existing plant, shows that suppliers of catalytic converters are seeking to meet new environmental standards through the use of green technology. Treatment of these catalysts using NovX21's innovative process will allow providers to appreciate our technology's performance and the purity of the PGM-rich metal powder produced.
The next step in this collaboration would be the signature of long-term supply agreements for NovX21's new plant.
The Saint-Augustin plant upgrade has been completed and reflects the improvements needed for the new plant. St-Augustin is now using equipment specifically designed to provide significant improvements to our process, allowing us to reduce capital and operating costs and operating time. Several components designed by our engineers, as well as the data on these adjustments, enhance our intellectual property and remain trade secrets. The equipment has been designed and manufactured in Quebec by various contractors.
About NovX21
NovX21 operates an industrial prototype plant for the recovery of Platinum Group Elements (Platinum, Palladium and Rhodium, or PGMs). The plant is located near Quebec City in St-Augustin-de-Desmaures. Its patented process yields more than 97% recoveries of PGMs, and is not only much less capital extensive but also operates much more rapidly than conventional plants, thus dramatically lowering the amount of time that its customers' capital is tied up as work-in-process inventory. 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.
Sylvain Boulanger, P.Eng.President & CEOinfo@novx21.com(514) 282-2110Nicole Blanchard, Managing PartnerSun International Communicationsnicole.blanchard@isuncomm.com(450) 973-6600
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