First mover in domestic
rare-earth magnet recycling

Scaling magnet recycling and manufacturing with patented technology

Overview

Delivering resilient magnet supply for US industries

HyProMag USA is one of the earliest domestic recycling operations advancing toward commercial production, holding a meaningful lead over competitors that remain in earlier development stages. We are positioned to serve high-growth markets, including AI infrastructure, robotics, and electric vehicles, where rare-earth magnet demand is projected to grow at 10%+ CAGR.

HyProMag USA is a LLC that is jointly owned by CoTec Holdings Corp. and Maginito Limited, which will roll out HyProMag Limited’s patented Hydrogen Processing of Magnet Scrap (HPMS) recycling technology into the United States. We aim to develop a low-cost, low-carbon, sustainable rare-earth magnet recycling and production business underpinned by HPMS, toward a long-term domestic supply of neodymium/iron/boron (NdFeB) permanent magnets.

Validated, Scalable Platform

Backed by TRL 8 HPMS technology and 15+ years of development with $100M+ investment, enabling a modular pathway to 3x capacity by 2029.

First-Mover Positioning

Among the earliest domestic recycling operations targeting commercial production, with significant lead time over competitors still in earlier development stages.

Compelling Economics

$797 million post-tax NPV7 and 37.1% real IIR, based on Adamas forecast pricing and 10%+ demand CAGR across AI, robotics, and EV markets.

Aerial view of industrial facility

Built on a robust legacy in magnets

  1. 2018

    HyProMag Limited was founded to commercialize the patented HPMS technology.

  2. 2021

    Established 80%-owned subsidiary in Germany with HyProMag GmbH introducing HPMS in Europe.

  3. 2022

    Successful piloting at University of Birmingham; UK's only domestic rare-earth source at Midlands.

  4. 2023

    Maginito Limited acquired 100% ownership, strengthening global scaling capability.

  5. 2024

    Bankable Feasibility Study completed, 50:50 JV established for HyProMag USA.

  6. 2025

    Long-loop and short-loop studies completed, TX building leased with feedstock stockpiling.

  7. 2026

    Pre-feasibility study commenced for USA facility.

  8. 2027

    First revenue targeted in H2 2027. Texas plant to reach 1,526 tpa NdFeB/year.

  9. 2028–29

    Expansion plants commissioning for 3 plants; total targeted capacity to reach ~4,656 tpa.

Tyseley Energy Park scales HPMS in UK

HyProMag is establishing short-loop recycling facilities for NdFeB magnets at Tyseley Energy Park in Birmingham. The plant is being developed together with the University of Birmingham, with a minimum capacity of 100tpa NdFeB. This £4.3 million project is being funded by Driving the Electric Revolution, an Industrial Strategy Challenge Fund challenge delivered by UK Research and Innovation (UKRI).

The project aims to take HPMS technology to a greater scale and efficiency with a revolutionary new design of processing equipment and extensive automation of processing methods. This will enable inert atmosphere powder handling and pressing.

Tyseley Energy Park — BEIC building
HyProMag GmbH facility in Pforzheim, Germany

HyProMag GmbH introduces HPMS in Germany

HyProMag GmbH is a technology company based in Pforzheim, specializing in the reprocessing of rare-earth permanent magnets. It produces magnetic powders, alloys, and sintered magnets, and provides dismantling, extraction, and recycling-focused consulting services. Through its IP-protected HPMS technology and related patents, the company offers an environmentally improved production method while supporting secure, politically independent magnet supply within the European Union.

In November 2021, HyProMag established an 80%-owned subsidiary in Germany, HyProMag GmbH, to commercialize HPMS technology in Germany and Europe. HyProMag GmbH is 20% owned by Professor Carlo Burkhardt of Pforzheim University, co-ordinator of the €14m SusMagPro and
€13m EU-funded REEsilience recycling projects, with approximately 40 partners across the European supply chain.

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