Regenx Tech Provides Operational Update

Rhea-AI Summary

Regenx Tech Corp (RGXTF) announced delays in restarting operations at its new Newport, Tennessee facility due to pending Air Pollution Control Construction permits from the Tennessee Department of Environment and Conversation. The permits, applied for in December 2024, are expected by July 7, 2025. Despite efforts to expedite the process, including engaging local politicians, the timeline remains unchanged. The company has used the transition period to improve operations, implementing a redesigned process flow that reduces labor requirements and supports 4,000 lbs daily milled feedstock capacity. Chemical process improvements have been made, requiring equipment modifications. Regenx has submitted a grant proposal to the US Department of Energy for funding assistance, which could provide non-dilutive capital for growth initiatives. The company focuses on recycling diesel catalytic converters to recover precious metals like platinum and palladium.

Positive

• Redesigned process flow reduces labor requirements and improves operational efficiency
• New facility design supports 4,000 lbs daily milled feedstock capacity with easier future expansion capability
• Chemical process improvements implemented to enhance financial and operational advantages
• Potential non-dilutive funding through US Department of Energy grant proposal

Negative

• Operations restart delayed due to pending environmental permits
• Bureaucratic process causing significant timeline setbacks despite political intervention
• Current operations completely halted while awaiting permits

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

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

FAQ

When will Regenx Tech (RGXTF) receive its Tennessee facility permits?

The Tennessee Department of Environment and Conversation is required to issue the permits by July 7, 2025, with permits initially applied for on December 18, 2024.

What is the processing capacity of Regenx Tech's new Tennessee facility?

The new facility design supports an initial operating capacity of 4,000 lbs of milled feedstock per day, with built-in flexibility for future expansion.

What improvements has Regenx Tech made during the facility transition period?

Regenx has implemented process flow redesigns to reduce labor requirements, improved base chemistry, and made equipment modifications to enhance operational efficiency.

What potential funding has Regenx Tech applied for?

Regenx has submitted a grant proposal to the US Department of Energy to provide funding assistance for operations and expansion of their technology.

What materials does Regenx Tech recover from catalytic converters?

Regenx Tech recovers precious metals such as platinum and palladium from end-of-life diesel catalytic converters.