Noveon Magnetics Timeline

Events

• 2026-06-30 - Contract Award - Noveon wins five-year Army IDIQ for domestic NdFeB magnets - The award is recorded under contract W51AA126DA039. The IDIQ has a ceiling value of $1.2 million across its five-year term. The procurement targets domestic rare-earth magnet supply for motors used in small unmanned aircraft systems. - source: governmentcontracts.us
• 2026-01-19 - Funding - Noveon closes $215 million Series C led by One Investment Management - Existing investors supplied the remaining $15 million, and OneIM received the right to appoint two Series C board members. Noveon said the financing would expand domestic capacity beyond 2,000 tonnes per year. The transaction also facilitated secondary sales… - source: noveon.co
• 2025-12-04 - Contract Award - ASM secures further 60-tonne NdFeB alloy sale to Noveon - The high-purity alloy will be made at ASM’s Korean Metals Plant to specifications tailored for Noveon’s magnet production. Deliveries were scheduled over the following six months, with prices linked to market rates and alloy composition. The sale is under an… - source: wcsecure.weblink.com.au
• 2025-11-12 - Partnership - Solvay agrees to supply rare-earth oxides to Noveon from 2026 - The feedstock agreement covers both light and heavy rare-earth oxides. Solvay said some material will be extracted from end-of-life sources. The arrangement adds a European oxide source to Noveon's U.S. finished-magnet supply chain. - source: noveon.co
• 2025-11-03 - Partnership - Noveon and Kangwon plan 2,000-tonne annual magnet plant in South Korea - The planned facility is sized for up to 2,000 tonnes of annual magnet capacity. Noveon contributes magnet production and recycling technology, while Kangwon contributes plant engineering, process equipment and EPC capability. Target markets include Korean… - source: noveon.co
• 2025-08-14 - Contract Award - ABB signs long-term agreement for Noveon magnets in North American motor production - Deliveries were scheduled to ramp from August 2025. Noveon will engineer EcoFlux magnets to meet ABB's high-temperature performance requirements. The agreement links Noveon's U.S. magnet capacity to ABB motor manufacturing for industrial and automation… - source: noveon.co
• 2025-08-06 - Contract Award - General Motors begins receiving Noveon rare-earth magnets under multi-year agreement - The magnets support components used in GM full-size SUVs and trucks. Noveon said production started immediately and deliveries began before the August announcement. The agreement establishes a live automotive shipment programme from Noveon's domestic… - source: noveon.co
• 2025-02-03 - Contract Award - Noveon secures five-year magnet offtake agreement with Nidec Motor Corporation - Noveon will supply finished magnets from its EcoFlux product line. The agreement supports Nidec operations in automation, industrial and defense applications. The contracting buyer is Nidec Motor Corporation, the St. Louis motor business within Nidec Motion… - source: noveon.co
• 2025-01-06 - Partnership - Noveon, Kangwon Energy and LG launch closed-loop magnet recycling initiative - The initial phase uses magnets recovered from LG products as feedstock for new high-performance magnets intended for LG applications. LG will test recycled magnets in household-appliance and consumer-electronics applications to validate strength, quality and… - source: noveon.co
• 2023-05-16 - Funding - Noveon closes $75 million Series B for U.S. magnet manufacturing - NGP and Aventurine Partners co-led the round, and NGP partner James Wallis joined Noveon's board. The company said the capital would accelerate facility expansion and production for automotive, defense, energy, medical and consumer applications. At… - source: noveon.co