Evolution Metals & Technologies (Nasdaq: EMAT) has received all 57 containers of ULVAC magnet-production equipment at its Pohang expansion site in South Korea.
Commissioning is scheduled to begin in November. Once installation and commissioning are completed, annual capacity is expected to rise from approximately 1,000 to 10,000 metric tons, including approximately 6,000 metric tons of high-performance sintered magnets. More than 50% of input requirements are on site, alongside contracted supply; the company already generates commercial magnet sales.
An October 27 investment framework with Pohang City supports expansion on approximately 1.27 million square feet. The company expects approximately US$28 million in local government grants, subject to applicable conditions. Its financing arrangements include a convertible facility of up to US$100 million with Yorkville Advisors. https://stocktitan.net/news/EMAT/evolution-me...gdwjm.html
@EMATechCorp
@Nasdaq