REEtec

REEtec AS is a Norwegian company specializing in the development and commercial application of proprietary technology for separating rare earth elements (REEs) from mineral concentrates. Its innovative process combines high efficiency and competitive costs with best-in-class environmental performance, featuring near-complete recovery and reuse of consumables as well as 100% hydroelectric power, achieving up to 90% lower CO2 emissions than conventional separation methods.

The company produces high-quality rare earth oxides and nitrates at various purity levels, with particular emphasis on magnet metals such as neodymium and praseodymium (NdPr) used in electric vehicle motors, wind turbines, robotics, and other high-tech applications supporting the green energy transition. REEtec operates its headquarters in Oslo, Norway, and is completing construction of its first industrial-scale separation plant at Herøya Industrial Park in Porsgrunn, Norway, following successful operation of an industrial demonstration plant since 2019. It plans additional capacity, including integration with feedstock from LKAB operations in Sweden.

REEtec is privately owned. Following a major 2022 financing round of approximately EUR 115 million, LKAB became the largest shareholder. Other investors include Scatec Innovation AS (founder and second-largest), Nysnø Klimainvesteringer, Techmet, and Mercuria. In the global REE industry, where China dominates separation capacity, REEtec positions itself as a sustainable European supplier advancing secure, low-emission critical mineral value chains.