U.S. Partners with ReElement to Build $1.4B Domestic Rare Earth Magnet Supply Chain
TL;DR Summary
ReElement Technologies and Vulcan Elements secured a $1.4 billion partnership with the U.S. Department of War's Office of Strategic Capital to develop a fully integrated domestic rare earth magnet supply chain, including loans totaling $700 million matched by private capital, aiming to scale production to 10,000 metric tonnes of NdFeB magnets, with the Department receiving warrants in ReElement.
Topics:business#business#dollar14-billion-partnership#rare-earth-magnets#reelement-technologies#us-department-of-war#vulcan-elements
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