Platinum Group Metal Recovery from Spent Catalytic Converters . The catalyst component of a catalytic converter is usually platinum (Pt), along with palladium (Pd), and rhodium (Rh). All three of these platinum group metals, or PGMs, are extremely rare but have a broad range of applications in addition to catalytic converters. Platinum, for example, is used in laboratory and dental equipment, electrical contacts and electrodes, and jewelry, while palladium plays a key role in fuel cell technology.