DOVER, Del., Feb. 24, 2020 /PRNewswire/ -- Ecotrade Group, a leading recycler of scrap catalytic converters, is giving the traditional automotive recycling sector a complete makeover by injecting digital elements into the trade. This is done in the form of a mobile app -- the company's Eco Cat App is offering convenient access to the most updated market prices of scrap catalyst recycling.
Over the last two decades, Ecotrade has been purchasing and recycling spent catalytic converters. These exhaust emission control devices transform harmful substances into less harmful emissions within a vehicle's exhaust system. During the process, precious metals such as rhodium, platinum and palladium are soaked through the catalytic converter. This turns spent catalytic converters into valuable objects.
However, due to limited easily accessible trading data for these catalytic converters, problems, including sellers not knowing whether they are getting a fair transaction, have emerged.
Eco Cat App is designed to tackle this challenge while providing pictures of more than 20,000 catalytic converters, and prices of products that are updated 3 times daily. Currently, this mobile app is the only software on the market that is opened to the public and Ecotrade has focused on making this software as user friendly as possible.
"This mobile app will not only revolutionize the entire auto recycling industry but with the rising popularity of this software, people are beginning to understand that a used catalytic converter is not only scrap but in fact, it has a significant residual value especially for precious metals," said Maxime Le Breton, Managing Partner of Ecotrade Group.
With the precious metal recycling market poised to surge to over US$32800 million by 2026 from the current US$21140 million, Ecotrade is further looking into helping this industry grow digitally.
"The current level of technology available on the market right now especially in terms of object recognition allows us to visualise the development of many more applications that will be useful within the recycling industry. However, we feel that the automotive recycling industry is slow on the uptake on a digital perspective and we would like to play a role in the digitalisation of the industry," said Maxime Le Breton.
About Ecotrade Group
Established in 2006, Ecotrade Group is an industry leader in tech-based and environmentally conscious catalytic converter recycling. Ecotrade Group has earned a solid reputation for integrity, professionalism and transparency, with sampling methods that are fully approved by industry-leading authorities. The company offers a full range of services, including processing, sampling, and assaying of catalytic converters and diesel particulate filters. With offices in more than 10 countries, Ecotrade Group has become a global leader in precious metal recycling technology for catalytic converters.
Maxime Le Breton
SOURCE Ecotrade Group