Noveon Magnetics secures $215 million to expand U.S. rare earth magnet manufacturing

Summary

Noveon Magnetics has completed a $215 million Series C financing round led by One Investment Management to expand its domestic rare earth magnet manufacturing capacity. The investment will enable Noveon to increase production beyond 2,000 tons per year, addressing growing demand in sectors such as automotive, defense, and energy. This move supports the reshoring of critical supply chains for high-performance magnets in the U.S.

Recent Coverage

• NOVEON MAGNETICS COMPLETES $215 MILLION SERIES C TO EXPAND U.S. RARE EARTH MAGNET MANUFACTURING CAPACITY

  PR Newswire • Jan 19