Noveon and Solvay Join Forces for Rare Earth Materials
American Rare Earth Magnet Manufacturer to Strengthen U.S. Magnet Supply Chain with Purchase of Light & Heavy Rare Earth Oxides.
BRUSSELS and SAN MARCOS, Texas – Noveon Magnetics and Solvay have officially entered into a supply agreement for light and heavy rare earth materials. Under this agreement, Solvay will begin supplying Noveon with rare earth oxides commencing in 2026. This partnership marks a critical advancement toward establishing a sustainable supply chain for rare earth permanent magnets in the U.S.
Scott Dunn, the CEO of Noveon Magnetics, expressed, "This agreement strengthens our ability to deliver reliable, American-made magnet solutions to industries that depend on them most. By partnering with Solvay, we are building a resilient supply chain at a crucial time for the U.S." This sentiment underscores the pressing need for a dependable magnet supply, especially in light of increasing demand.
The terms of the supply agreement detail that Solvay will provide Noveon with Neodymium-Praseodymium (NdPr), Dysprosium (Dy), and Terbium (Tb) oxides. These valuable oxides will be sourced, among other materials, from end-of-life sources. This approach is set to significantly bolster Noveon's capacity to manufacture finished rare earth magnets for various key applications.
An Nuyttens, the President of Solvay Special Chem, stated, "Partnering with Noveon enables us to apply Solvay's expertise to supply essential resources for high-performance applications. This collaboration is part of Solvay's broader commitment to sustainable and secure rare earth supply chains, both domestically and internationally." This mutual goal aligns both companies with a forward-thinking ethos towards sustainability.
This strategic alliance emerges in a time when the demand for domestically produced rare earth magnets is on the rise. By integrating Solvay's advanced chemical expertise with Noveon's robust manufacturing capabilities, the partnership aims to provide immediate production capacity. This is especially vital as new domestic capacities often face prolonged lead times, compounded by ongoing global supply risks.
About Noveon Magnetics
Noveon Magnetics stands as the only operational manufacturer of sintered NdFeB rare earth magnets within the United States and the first to reshore this manufacturing process in over two decades. Through its proprietary EcoFlux™ technology, Noveon ensures a fully domestic, closed-loop manufacturing process that maximizes resource efficiency. This technique also promotes the beneficial use of recycled materials, thereby yielding high-performance finished magnets that satisfy a diverse range of commercial and industrial demands. Their products are pivotal for critical sectors such as electric vehicles, renewable energy, robotics, consumer electronics, and defense systems.
About Solvay
Solvay, a pioneering chemical company founded on the transformative innovations of Ernest Solvay in the soda ash process, dedicates itself to offering essential solutions worldwide via its workforce of nearly 9,000 employees. Solvay has been at the forefront of harnessing chemistry to forge innovative, sustainable solutions that address the planet's core needs, including air and water purification, food preservation, health protection, and sustainable material development. Their commitment to achieving a carbon-neutral future by 2050 highlights their dedication to sustainability and a just transition in the industry.
Frequently Asked Questions
What materials will Noveon and Solvay focus on?
Noveon and Solvay's partnership will primarily focus on light and heavy rare earth materials, including Neodymium-Praseodymium, Dysprosium, and Terbium oxides.
How will the partnership affect the supply chain?
This alliance is aimed at strengthening the U.S. supply chain for rare earth magnets, ensuring a reliable source for industries that depend on these materials.
When is production expected to start?
Production under the new agreement is set to commence in 2026.
Why is this partnership significant?
The partnership is significant because it combines Solvay’s chemistry expertise with Noveon’s manufacturing capabilities, creating a sustainable and resilient supply chain in the face of global supply risks.
What industries benefit from Noveon’s products?
Noveon's products support a range of critical industries, including electric vehicles, renewable energy, robotics, defense systems, and consumer electronics.
