Regenx Tech Provides Operational Update

Core Insights - Regenx Tech Corp. is currently facing delays in restarting operations at its new facility in Newport, Tennessee due to pending Air Pollution Control Construction permit from the Tennessee Department of Environment and Conservation [1][2] - The company has made significant efforts to expedite the permit process, including engaging with local and state politicians, but has not yet succeeded in reducing the timeline [2][3] - The CEO expressed disappointment over the delay but remains optimistic about commencing operations promptly once the permit is granted [3] Operational Updates - The redesign of the process flow at the new facility has led to reduced labor requirements and increased operational efficiency, with an initial capacity of 4,000 lbs of milled feedstock per day [4] - Adjustments to the base chemistry used in the recycling process have been made, providing both financial and operational advantages, and these changes have been incorporated into the facility's redesign [5] - The company is preparing for future expansion by making provisions during utility upgrades and relocations at the new site [4] Funding and Government Support - Regenx has submitted a grant proposal to the US Department of Energy for funding assistance, which could significantly accelerate growth plans without diluting equity [6] - The grant proposal aligns with government initiatives to boost domestic production of critical materials, such as platinum and palladium, and is supported by high-level political engagement [7] Future Outlook - The company plans to provide further updates regarding the restart of operations in the near future [8]