EDMONTON, Alberta, June 17, 2025 (GLOBE NEWSWIRE) -- Regenx Tech Corp., (the "Company" or "Regenx") (CSE: RGX) (OTCQB: RGXTF) (FSE: YRS WKN: A2DSW3) is providing an update on the status of the restart of operations at its new facility in Newport, Tennessee. The restart of operations has been delayed awaiting the issuing of the Air Pollution Control Construction permit from the Tennessee Department of Environment and Conversation.
The permits were initially applied for on December 18, 2024, and the department is required by regulation to issue the permits by July 7, 2025, at the latest. All the submission documentation and public consultation have been completed and accepted by the department. The only remaining outstanding item is for the department to prepare and issue the actual permit document. The Company has invested significant manpower trying to shorten this bureaucratic process including meetings with officials and enlisting the support of local and state level politicians. To date these initiatives have been unsuccessful in reducing the allowed timetable.
Don Weatherbee, CEO of Regenx, stated, "We are disappointed that we are still awaiting the official granting of the permit documentation but remain hopeful it will be issued in advance of the regulatory deadline date. The team is poised to hit the ground running when the permit is issued and recommence operations in short order."
During the transition to the new facility the Regenx team has been working on several initiatives regarding improving operations including design and chemistry.
The redesign of the process flow has reduced labour requirements, ultimately creating greater efficiencies and a more streamlined operation. The new design supports an initial operating capacity of 4,000 lbs of milled feedstock per day, with the flexibility to increase capacity in the future using fewer equipment upgrades compared to the previous version. During the required utility upgrades and relocations at the new site, the Company made provisions to accommodate future expansion of operations.
The Regenx team has been working on adjustments to the base chemistry used in the process. Early in the new year the results provided sufficient data that the changes could be utilized on a go forward basis. These adjustments offered both financial and operational advantages but required modifications to the equipment specifications and layout. These changes were implemented in the redesign process and have further derisked the Company's scale-up and expansion initiatives.
In addition to the work being done on the operations side of the business, the Company has submitted a grant proposal to the US Department of Energy to provide funding assistance for the operation and expansion of the Regenx Technology. If this grant is awarded, it would provide a significant capital injection that would allow the Company to accelerate its growth plans in a non-dilutive manner.
The grant highlights how Regenx fits into the government's desire to increase the domestic production of critical materials for energy, which includes platinum, palladium, and silicon carbide. This proposal is also in alignment with current Executive Orders issued by President Trump and the Company is currently working with highly placed officials to secure political support for the Department of Energy proposal.
Regenx will provide additional updates in the near future on the result of the operations starting back up.
About Regenx Tech Corp.
Regenx Tech is a cleantech, urban mining company that recycles end-of-life diesel catalytic converters using its innovative and environmentally friendly proprietary technology for the recovery of precious metals, such as platinum and palladium. Learn more at www.regenx.tech.
For further information contact:
REGENX TECH CORP. ?
Investors@Regenx.Tech
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