Germany – In a new project titled “Innovation Centre for Science & Economy Northern Black Forest IZWW,” Mkango Resources announce that HyProMag GmbH has been awarded grants totaling €3.7 million.
This includes a €2.5 million grant from the European Regional Development Fund (ERDF) and a €1.2 million grant from the Ministry of Economic Affairs, Labor, and Tourism Baden-Württemberg. According to the assumption that grants will contribute an additional €1.50 for every euro HyProMag GmbH spends on the project, the project’s overall cost is anticipated to be €6.1 million, or roughly 60% of the entire cost.
Recycling rare earth magnets
The establishment of a production plant in the state of Baden-Württemberg with a minimum capacity of 100tpa NdFeB, consisting of recycled rare earth sintered magnets, alloy pellets, and powders, is part of the project’s first phase.
Rare earth magnets are an important part of modern equipment like mobile phones, hard drives, and loudspeakers as well as sustainable energy technology like electric cars and wind turbine generators. A important possibility to accelerate the development of competitive and sustainable recycled rare earth magnet production is the development of domestic supplies of recycled rare earths in Germany via HPMS.
Similar to the £4.3 million project being developed by HyProMag Limited and the University of Birmingham at Tyseley Energy Park in the UK with funding from Driving the Electric Revolution, an Industrial Strategy Challenge Fund challenge delivered by UK Research and Innovation, the initial production facility would be of a similar size (UKRI).
The Project is a significant step in realizing the goals of HyProMag GmbH, which was founded to commercialize HPMS technology in Germany and the EU as well as to help government initiatives to strengthen European rare earth supply chains and hasten the green transition.