- Business
- NovX21 Inc. NovX21 Inc. (PORMF) develops and operates technologies for recovering platinum group metals (PGMs) including platinum, palladium, and rhodium from recycled materials and ore; it specializes in a patented chlorination process that achieves over 97% recovery rates with low capital expenditure and rapid processing times compared to conventional methods. The company runs an industrial prototype plant located near Quebec City in St-Augustin-de-Desmaures, Quebec, Canada, targeting end-of-life catalytic converters and other PGM-containing components from the automotive and industrial sectors while adhering to global green standards. Founded in 1986 as Pro-Or Inc. (Ressources Minières) and renamed NovX21 Inc. in January 2014, it is headquartered at 620 Saint-Jacques Street, Suite 110, Montréal, Quebec, Canada, with primary operations in the research, development, and recycling of precious metals. NovX21 Inc. focuses on sustainable recycling services for precious metals, serving customers in the automobile industry and mining sectors across Canada and potentially internationally through its scalable clean technology. Recent developments include discussions with the Quebec government for financing a commercial extraction plant, a contemplated private placement of units to fund the new facility, and a warrant extension as part of ongoing efforts to transition from prototype to full-scale commercial operations. The company was delisted from the TSX Venture Exchange in July 2018 due to unpaid listing maintenance fees but maintains its OTC presence under PORMF and remains a reporting issuer in certain Canadian jurisdictions.