Sep 28 2010
Molycorp, Inc. (NYSE: MCP), the Western Hemisphere's only producer of rare earths, announced today the successful commercial launch of a new rare earth-based water purification technology called XSORBX™.
XSORBX™ (pronounced ZOR-bex) is a non-toxic, end-use water treatment product. XSORBX™ utilizes rare earths produced by Molycorp at its Mountain Pass, California rare earth facility. Molycorp is now selling XSORBX™ for commercial use in the wastewater, recreational, pool and spa, industrial process, and other water treatment markets.
“Since integrating XSORBX™ with our patented, rare earth-composition No-Phos™ technology, which to date has yielded superior, cost-advantaged results, we’re seeing a greater than 20 percent increase in the removal of a wide range of impurities, such as nutrients, heavy metals, dyes, and other problematic contaminants,” said Ken Brummett, President and Chief Executive Officer of Bio-Chem Industries, Inc., a producer of water treatment products based in Tulsa, Oklahoma. “The extraordinarily wide-spectrum effectiveness of this product -- which can also remove pathogens, bacteria, viruses, and pharmaceuticals -- promises to revolutionize water treatment in markets around the world.” Mr. Brummett also noted: “We have been importing rare earth materials for a number of years. However, the use of Molycorp’s XSORBX™ product allows Bio-Chem to eliminate its previous dependence on foreign sources.”
Mark Smith, Chief Executive Officer of Molycorp, added: “The commercialization of XSORBX™ is an important milestone for Molycorp. It has enormous potential to help meet the unique drinking water challenges faced by the U.S. Armed Forces as well as nations that face challenges with delivering potable water on a daily basis. These are exciting areas of growth for our product."