Noveon Magnetics
About
About Noveon Magnetics
EcoFlux is Noveon’s sintered NdFeB product family, available as blocks, finished pieces or assemblies engineered to application requirements. The company uses grain-boundary engineering to target high-temperature performance with reduced heavy-rare-earth content, and its Magnet-to-Magnet process can convert end-of-life magnetic material into new magnets. These parts feed permanent-magnet motors, motion-control systems, sensors and other electromechanical assemblies used across automation, mobility, medical and defence equipment.
Research, material processing, production, assembly and delivery are concentrated at Noveon’s San Marcos, Texas manufacturing centre. The business positions this domestic footprint as an alternative source for customers exposed to imported rare-earth supply, and its products are marketed as compliant with U.S. defence sourcing requirements. Robotics relevance sits at the motor-material layer: Noveon supplies the permanent magnets that actuator and motor manufacturers integrate into complete drive systems.
Articles
Operations
Facilities & manufacturing
- Factory floor area
2023-05-16 - Noveon described its 145,000-square-foot San Marcos magnet plant as commercially operational. - magnet manufacturing facility - San Marcos, Texas
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Production capacity
- Production capacity
2025-11-03 - Noveon and Kangwon plan a South Korean sintered NdFeB magnet plant with up to 2,000 tonnes of annual capacity and a 2027 production target. - sintered NdFeB magnets - South Korea
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Output & shipments
- Shipments
2025-08-06 - Noveon began deliveries of sintered NdFeB magnets to General Motors in July 2025 for full-size SUV and truck components. - sintered NdFeB magnets
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Orders & commitments
- Order / commitment
2025-02-03 - Noveon and Nidec signed a five-year binding off-take agreement with potential deliveries exceeding 1,000 tonnes of finished sintered NdFeB magnets beginning in 2025. - finished sintered NdFeB magnets
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Supply
Supply chain relationships
- Australian Strategic Materials
Inbound - materials and robotics supply chain - ASM supplies NdFeB strip alloy to Noveon Magnetics under its existing agreement
Source - LG Electronics
Inbound - materials and robotics supply chain - LG Electronics provides end-of-life magnets for Noveon Magnetics’ Magnet-to-Magnet recycling and validation programme
Source - Solvay
Inbound - materials and robotics supply chain - Solvay contracted to supply NdPr, Dy and Tb rare-earth oxides for Noveon magnets, with deliveries planned from 2026
Source - United States Army
Outbound - materials and robotics supply chain - Noveon won a five-year Army IDIQ for domestic NdFeB magnets supporting small-UAS motor production
Source - Nidec Motor Corporation
Outbound - materials and robotics supply chain - Noveon will supply Nidec Motor Corporation with over 1,000 tonnes of sintered NdFeB magnets under a five-year binding offtake
Source - ABB
Outbound - materials and robotics supply chain - Noveon contracted to supply NdFeB magnets for ABB’s North American industrial motor production
Source - Nidec Motor Corporation
Outbound - materials and robotics supply chain - Noveon Magnetics contracted to supply EcoFlux sintered NdFeB magnets to Nidec Motor Corporation
Source - LG Electronics
Outbound - materials and robotics supply chain - Noveon’s M2M process recycles end-of-life LG magnets into new high-performance magnets for LG Electronics products
Source - ABB
Outbound - materials and robotics supply chain - Noveon supplies U.S made sintered NdFeB magnets to ABB under a long-term agreement for motor production
Source - General Motors
Outbound - materials and robotics supply chain - Noveon supplies U.S made sintered rare-earth magnets for General Motors electric drive units under a multi-year agreement
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Funding
- 2026-01-19 - Series C - $215M - Noveon closes $215 million Series C led by One Investment Management
Noveon closed a $215 million Series C led by a $200 million One Investment Management investment to expand U.S. rare-earth magnet manufacturing capacity. - source: noveon.co
- 2023-05-16 - Series B - $75M - Noveon closes $75 million Series B for U.S. magnet manufacturing
Noveon closed a $75 million Series B co-led by NGP and Aventurine Partners to expand its commercially operating San Marcos magnet facility. - source: noveon.co
Investors
- Aventurine Partners - Lead - VC - 1 funding event - first seen 2023-05-16
- NGP - Lead - Unknown - 1 funding event - first seen 2023-05-16
- One Investment Management - Lead - Unknown - 1 funding event - first seen 2026-01-19
Team
- Scott Dunn - Chief Executive Officer
- Hugo Haussner - Chief Operating Officer - Hugo Haussner is Noveon Magnetics’ Chief Operating Officer. Before Noveon, he led a Celestica mega-site and spent nearly two decades at Benchmark Electronics, ultimately serving…
- Viji Subramanyam, PhD - Chief Financial Officer
- Miha Zakotnik, PhD - Chief Technology Officer - Miha Zakotnik is Noveon Magnetics’ co-founder and Chief Technology Officer. He holds a PhD in materials science and developed patented processes for recovering and remanufacturing…
- Peter Afiuny - Chief Commercial Officer - Peter Afiuny is Noveon Magnetics’ co-founder and Chief Commercial Officer. He leads business development, sales, sourcing, marketing and communications, drawing on earlier work in…
- Catalina Oana Tudor, PhD - Chief Information Officer - Catalina Oana Tudor is Noveon Magnetics’ co-founder and Chief Information Officer. Her background includes University of Delaware research in data mining, machine learning and…
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 - 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 by existing shareholders, but Noveon did not disclose the split between primary and secondary capital.
Source - 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 existing 100-tonne supply contract; the companies were separately discussing a longer-term agreement.
Source - 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 - 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 automotive, industrial, defense, electronics and energy customers.
Source - 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 markets.
Source - 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 manufacturing base.
Source - 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 & Energy.
Source - 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 sustainability. The programme is intended to expand with production capacity at a South Korean facility being developed through Noveon and Kangwon.
Source - 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 announcement, Noveon described its 145,000-square-foot San Marcos facility as commercially operational.
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Commercial
- Noveon wins five-year Army IDIQ for domestic NdFeB magnets
2026-06-30 · Order / contract · The U.S. Army awarded Noveon Magnetics a five-year IDIQ for domestically sourced NdFeB magnets supporting small-UAS motor production.
Source - ASM secures further 60-tonne NdFeB alloy sale to Noveon
2025-12-04 · Order / contract · Australian Strategic Materials announced an additional alloy sale to Noveon Magnetics under their existing supply contract. · 60 tonnes of NdFeB alloy
Source - ABB signs long-term agreement for Noveon magnets in North American motor production
2025-08-14 · Order / contract · ABB selected Noveon for a long-term, multi-million-dollar agreement covering high-temperature NdFeB magnets for North American industrial motor applications.
Source - General Motors begins receiving Noveon rare-earth magnets under multi-year agreement
2025-08-06 · Order / contract · Noveon began deliveries of U.S.-made sintered NdFeB magnets to General Motors in July 2025 under a multi-year supply agreement.
Source - Noveon secures five-year magnet offtake agreement with Nidec Motor Corporation
2025-02-03 · Order / contract · Noveon and Nidec Motor Corporation agreed to a binding five-year offtake covering potential deliveries of more than 1,000 tonnes of finished sintered NdFeB magnets from 2025.
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