SKF and Wolong Electric Group are expanding their lines of business in the growing market for magnetic bearings and high-speed levitation motors. SKF is opening a new plant in Morocco to ramp up production of its magnetic bearings and, jointly, the two companies are cooperating to apply the bearings to more high-speed motor and drive products. […]
Electreon, a specialist in embedded-roadway wireless inductive charging of electric vehicles, along with Toyota Motors and automotive component supplier Denso have agreed to jointly develop an advanced wireless charging system for the mainstream EV market. The Electreon technology is also the focus of several demonstration projects taking place on roadways in Europe and the USA. […]
Global chemicals giant Solvay has joined the Rare Earth Industry Association in its latest move to dramatically build its magnetics business. Planning to develop a major hub for rare earth magnets in Europe, the Belgian-based company has been beefing up its supply chain in addition to the latest step toward building its network of industry partners and potential customers. […]
Adamas Intelligence has announced the publication of its latest annual report, “Rare Earth Magnet Market Outlook to 2040”. The report is a comprehensive deep dive into the global market for NdFeB permanent magnets and the […]
Neo Performance Materials, considered a bellwether of the permanent magnetics industry, has named a new president in concert with the upcoming retirement of its CEO and long-time leader Constantine Karayannopoulos and, in rapid succession, recently consummated two deals that further its mines-to-magnets vertical integration strategy:
By acquiring SG Technologies Group Ltd (SGTec) in the UK, Neo moved further up the value chain and expands its specialty manufacturing footprint in Europe to better serve rapidly growing magnet demand from the electric vehicles, electronics and clean energy industries.
In Greenland, it progressed another step in developing its own rare earths mine as the government approved transfer of an exploration license from Hudson Resources of Canada, clearing the way for Neo to acquire it. […]
Metamagnetics Inc., a provider of cutting-edge RF magnetics solutions for the aerospace, defense and telecommunications industries, has announced new executive leadership. Vince Harris has taken on the role of chief executive officer, and Lee Burns has been promoted to president and chief operating officer. The moves come as the company has received several new contracts recently including an $11 million award for a military communications project. […]
Qnergy, a specialist in applying magnet-powered Stirling engines for capturing methane to generate onsite power at remote oilfields, is being recognized in the prestigious Edison Awards competition for the innovation and invention of its CAP3Nano system. It supplies utility grade electricity via a novel Stirling engine generator that runs on raw, unprocessed gas to provide reliable remote power to drive and deliver compressed air pneumatics, while eliminating the venting of methane wellpads. […]
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