facility

Materials/Manufacturing

MP Materials Awarded $58.5 Million Tax Credit for Magnet Manufacturing Plant in Fort Worth 

May 9, 2024 Editorial Staff Comments Off on MP Materials Awarded $58.5 Million Tax Credit for Magnet Manufacturing Plant in Fort Worth 

MP Materials has received a $58.5 million federal tax credit to support the construction of its rare earth magnet manufacturing plant in Fort Worth, Texas. The Section 48C Advanced Energy Project tax credit allocation was issued by the IRS and Treasury following a competitive, oversubscribed process administered by the Department of Energy that evaluated the technical and commercial viability and environmental and community impact of approximately 250 projects. A similar award for a $111 million tax credit went to an American subsidiary of Vacuumschmelze recently for its new magnet plant in South Carolina, as reported earlier in Magnetics Magazine.  […]

Electromagnetics

Wurth Electronics Midcom Builds New Headquarters in South Dakota 

May 8, 2024 Editorial Staff Comments Off on Wurth Electronics Midcom Builds New Headquarters in South Dakota 

Wurth Electronics Midcom held a ground-breaking ceremony April 24 for construction of a new 70,000 sq ft headquarters facility at its site in Watertown, South Dakota. A business unit of the Wurth Elektronik group of companies based in Germany, it manufactures a broad range of electromechanical and electronic components, many of them magnetic devices. […]

Materials/Manufacturing

VAC Awarded $111 Million Tax Credit for New Magnet Factory in USA, Makes Recycling Deal with Cyclic Materials 

April 10, 2024 Editorial Staff Comments Off on VAC Awarded $111 Million Tax Credit for New Magnet Factory in USA, Makes Recycling Deal with Cyclic Materials 

e-VAC Magnetics, part of Vacuumschmelze, has been awarded a $111.9 million Qualifying Advanced Energy Project Tax Credit to advance the construction of its first USA magnet manufacturing facility in Sumter, South Carolina. The facility was […]

e-Power Technology

Korean Steelmaker POSCO Establishes ‘China Excluded’ Supply Chain for Rare Earth Magnets in Big Expansion for EV Drivetrain Components 

March 19, 2024 Editorial Staff Comments Off on Korean Steelmaker POSCO Establishes ‘China Excluded’ Supply Chain for Rare Earth Magnets in Big Expansion for EV Drivetrain Components 

Holding big new orders from automakers for permanent magnets and planning to build a globally integrated enterprise for magnet and motor component manufacturing, Korean steelmaker Posco International announced on March 18 that it has successfully […]

Materials/Manufacturing

ASM Produces Neo Metal & Alloy at New Plant in South Korea While Progressing on Rare Earths Mine Site in Australia 

March 12, 2024 Editorial Staff Comments Off on ASM Produces Neo Metal & Alloy at New Plant in South Korea While Progressing on Rare Earths Mine Site in Australia 

Aiming to become a vertically integrated mine-to-magnet producer, Australian Strategic Materials reports that it is now steadily manufacturing neodymium metal and alloy at its new Korea Metals Plant, while making progress in the development of its rare earths mine site in Australia. […]

Materials/Manufacturing

CorePower Magnetics Plans Manufacturing Plant in Pittsburgh, Receives ISO Certification 

February 28, 2024 Editorial Staff Comments Off on CorePower Magnetics Plans Manufacturing Plant in Pittsburgh, Receives ISO Certification 

CorePower Magnetics, building upon soft magnetics technologies invented at Carnegie Mellon University and the National Energy Technology Laboratory, is planning to establish a plant in Pittsburgh to manufacture its signature nanocrystalline magnetic cores and power […]