USA Rare Earth, which is building an integrated rare earth element magnet production supply chain, has signed a memorandum of understanding (MOU) with programmable magnet manufacturer PolarStar Magnetics to develop its prototype magnet capabilities.
Using the available capacities at USA Rare Earth’s facilities, PolarStar will be included in early-round testing of US-produced magnets. Discussions will now progress toward a detailed long-term supply agreement.
The MOU reflects USA Rare Earth’s strategy to establish and secure a domestic rare earth magnet supply chain for both critical US industries and everyday consumer products. It follows the March 31 commissioning of its Innovations Lab in Stillwater, Oklahoma.
MORE: A closer look at rare earth permanent magnets
“We are on a quest to bring high-powered magnet production back to the US and are pleased to partner with a company involved in high-growth and high-value magnetic applications,” said Joshua Ballard, CEO of USA Rare Earth.
Source: USA Rare Earth
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