NovX21 inks framework supply agreement with Quebec auto parts recyclers
TORONTO (miningweekly.com) – Quebec-based green-technology pioneer NovX21 on Thursday announced that it had inked a framework supply agreement with the Quebec Association of Auto Parts Recyclers (ARPAC), an organisation of 84 members involved with green recycling of end-of-life vehicles and selling high-quality, controlled-origin recycled car and truck parts.
The framework agreement was signed following negotiations between NovX21, the chairperson of the board Pierre Robitaille and ARPAC president and CEO Simon Matte, and the company's presentation at ARPAC's annual meeting last week.
Currently, recyclers in Quebec were aware that they were losing the added value in catalytic converter recovery to intermediaries who bought their catalytic converters for firms with activities outside the province. ARPAC members, therefore, signed the framework agreement that offered a solution and collaboration with NovX21.
ARPAC would, thus, become a key supply partner for NovX21's first commercial plant, which was scheduled to start operations in 2015 in Quebec's Thetford Mines area.
NovX21 in June announced that it would build Quebec’s first platinum-group metals (PGMs) recycling plant in a Thetford Mines industrial park, a critical step on the road to commercial-scale deployment of its patented technology to recover PGMs from end-of-life vehicles.
TSX-V-listed NovX21 has developed, patented and implemented an innovative, sustainable green technology to recycle catalytic converters, a key component of vehicle pollution-control systems.
The Montreal-based company’s quick, clean, affordable and energy-efficient process allows it to recover PGMs for reuse, along with most of the other components used to manufacture catalytic converters.
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