- Solvay will supply Noveon with rare earth oxides starting in 2026.
- The agreement includes Neodymium-Praseodymium, Dysprosium, and Terbium oxides.
- Oxides will be sourced from end-of-life materials.
- The partnership addresses rising demand for U.S.-produced rare earth magnets.
Supply Agreement Details
Solvay and Noveon Magnetics have signed a supply agreement for light and heavy rare earth materials, effective from 2026. Solvay will provide Noveon with rare earth oxides, including Neodymium-Praseodymium (NdPr), Dysprosium (Dy), and Terbium (Tb).
Sourcing and Production
The oxides will be extracted from various sources, including end-of-life materials, to support Noveon's production of rare earth magnets. This initiative aims to enhance the sustainability and resilience of the U.S. magnet supply chain.
Strategic Importance
The partnership addresses the increasing demand for domestically produced rare earth magnets. By leveraging Solvay's chemistry expertise and Noveon's manufacturing capabilities, the collaboration aims to provide a reliable production capacity amid global supply risks and long lead times for new domestic facilities.
