Noveon Magnetics, an operational U.S. manufacturer of sintered rare earth magnets, recently announced a long-term supply agreement with global technology leader ABB to provide high-performance NdFeB magnets for use in industrial motor applications. The multi-million-dollar deal will support ABB’s North American manufacturing operations, with a ramp-up in deliveries beginning August 2025. It follows on the heels of two other supply deals made recently by Noveon — one with General Motors and the other with Nidec.
“We’re proud to partner with ABB to support the motors that power essential systems across industries, supporting trends in electrification, and industrial AI,” said Scott Dunn, CEO of Noveon Magnetics. “This agreement is another example of how U.S. manufacturing leadership and smart supply chain planning are helping global companies navigate volatility and meet rising demand.”
Under the agreement, Noveon will begin monthly deliveries in August 2025 and scale up to supply all magnet parts used in ABB’s North American motor production facility by the end of 2026. Capacity for the deal is secured, underscoring ABB’s confidence in Noveon’s long-term capabilities and product quality.
This strategic partnership comes at a time of growing demand for industrial motors used in critical infrastructure such as cooling towers, water pumps, and building systems. As the need for efficient building technologies accelerates across North America, ABB’s ability to secure a reliable domestic magnet supply is key to ensuring long-term performance and stability.
“ABB has a long tradition of serving customers with locally manufactured technologies,” said Ryan Fitts, Executive Vice-President of Operations at ABB. “Noveon’s U.S.-based manufacturing, proven quality, and scalable capacity help make our supply chain more resilient and enable us to uphold our planned growth strategy in industries such as data centers and HVAC.”
Noveon’s proprietary EcoFlux™ magnets enable greater resource efficiency, the beneficial use of recycled materials, and the delivery of a superior high-performance product. Built on an innovative, vertically integrated manufacturing process, EcoFlux™ magnets can be tailored to meet a wide range of customer specifications. Under the multi-year agreement, Noveon will supply ABB with EcoFlux™ magnets specially engineered to meet ABB’s high-temperature performance requirements, ensuring durability and efficiency in the most demanding industrial environments.
As the only operational U.S. manufacturer of sintered NdFeB magnets, Noveon continues to scale to meet demand from sectors including industrial, clean energy, defense, and automotive, driving forward a new era of domestic critical materials manufacturing in the United States.
With General Motors, it recently made a multi-year supply agreement to deliver rare earth magnets to support a wide range of GM vehicle components to support GM’s full-size SUVs and trucks. Noveon started production immediately and magnet deliveries began in July 2025. “We’re proud to be delivering critical rare earth magnets in support of some of America’s most iconic vehicles,” said Dunn. “This agreement is a testament to what American manufacturers like GM and Noveon can do to develop supply chains and partnerships right here in the U.S.”
“Working with domestic manufacturers like Noveon allows us to increase the resiliency of our supply chain while supporting American jobs and strengthening our industry and economic security,” said Jeff Morrison, General Motors global chief procurement officer. “Noveon’s magnets will support our most popular vehicles and help continue to deliver a leading portfolio of choice for our customers.”
In February, Nidec Motor Corporation and Noveon cemented a 5-year, binding off-take agreement with the potential to supply more than 1,000 tons of total off-take of finished sintered NdFeB rare earth magnets, supporting Nidec’s operations across critical industries including automation, industrial, and defense applications with deliveries beginning this year.
About Noveon Magnetics
Noveon Magnetics is a high-performance rare earth magnet manufacturer in the United States. Noveon’s product and process capability, EcoFlux™, supports a total magnet manufacturing capability which allows for greater resource efficiency, beneficial use of recycled materials to directly support magnet manufacturing, and delivery of a superior high-performance finished product that meets the full range of commercial demand requirements. Noveon’s magnets offer a secure supply chain solution and support a wide range of critical applications – electric vehicles, wind turbines, robots, motors, pumps, and an array of military systems – that are key to energy efficiency, electrification, and national security. More information is available at www.noveon.co, www.abb.com.
