MagREEsource inauguartes its first permanent magnet production facility, in the persence of Milan Grohol, Policy Officer DG GROW of the European Commision, Benjamin Gallezot, Interministerial Delegate on Strategic Metals and Minerals, and Christopher Ferrari, President of the Grenoble Metropolitan Council.
Inherently a French and European project, strongly rooted in the region thanks to its circular model, this inauguartion illustrates MagREEsource’s ambition to reindustrialize a sovereign and sustainable industry for rare earth metals and permanent magnets.
The 1,500 square meter Noyarey plant required 18 months of work and an 8.5 million euro investment. The site, which will employ 35 people by 2025, will be operational from September 2024 and will produce 50 tons of high-performance sintered magnets per year, made from 100% recycled materials.
A sovereign sector for wind power, electric cars and the Energy Transition
In an increasingly electrified world, rare earth-based permanent magnets are a strategic component used in numerous applications. The automotive industry, with the scheduled end of combustion engines in 2035, and the wind energy sector alone will account for over 50% of demand in Europe by 2030.
MagREEsource’s innovative short-loop production technology guarantees the resilience of the supply chain thanks to a locally sourced secondary resource – end-of-life magnets – and thus contributes to Europe’s independence from magnets sourced mainly from China.
Low-carbon magnets
The reindustrialization of France and MagREEsource’s circular model deliver undeniable environmental benefits for European customer industries. MagREEsource’s patented industrial process and adiabatic cooling technology reduce CO2 emissions by 91% and water consumption by 86% compared with the same magnets manufactured in China.
Re-industrialization in 2 stages
The Noyarey plant is the first stage before the construction of the MagFactory, for which the company has already received the support of the French government through the signature of a €25 million financing plan as part of the “France2030 – Critical Metals” program.
Design and construction of the site have already begun, with production scheduled to start in 2027. At the same time, MagREEsource and Schneider Electric have announced the signature of an industrial partnership aimed at improving the operational efficiency of the circular model and manufacturing processes for high-performance magnets, while reducing the MagFactory’s carbon footprint through the development of smart manufacturing and energy management systems. Its production capacity of 500 tonnes per year at start-up will be gradually increased to 1,000 tonnes by 2030. It will create 200 direct jobs.
“Our circular model has initiated the development of a new recycling channel dedicated to these critical metals. Our Noyarey site is an example of the reindustrialization of a strategic metallurgical sector for European industry, supported by public authorities at all levels”, declares Erick Petit, CEO and co-founder of MagREEsource.
Christophe Ferrari, President of Grenoble Alpes Métropole: “MagREEsource is the perfect example of the type of teams and economic adventures that the Metropole wishes to support on its territory. With the ex-nihilo creation of a new sector, these entrepreneurs are committed pioneers of the circular economy, which our Metropole has made a priority under this mandate. Like Grenoble Alpes Métropole, this start-up prodigy, which grew out of the work of the CNRS Néel Institute and our innovation ecosystem, is committed to the reindustrialization of our region, a prerequisite for our economic sovereignty, which goes hand in hand with the successful ecological transition of our industry.”
About MagREEsource
Born of 25 years of research projects at the CNRS/Institut Néel in Grenoble, MagREEsource was founded in 2020 by Sophie Rivoirard and Erick Petit. At the crossroads of metallurgy, magnetism and innovative technologies for manufacturing magnets from recycled materials, MagREEsource meets the needs of manufacturers in the wind power, aeronautics, robotics and automotive industries, all concerned by their sovereignty, their sustainable development strategy and the need for technical expertise in rare earth magnets in Europe.
