Nidec Motor Corporation and Noveon Magnetics have announced a five-year off-take agreement to supply more than 1,000 tons of sintered NdFeB rare earth magnets, with deliveries beginning in 2025. This agreement will support Nidec’s operations across key sectors, including industrial automation, defense, and electric vehicles (EVs).
Noveon, the only operational US manufacturer of sintered NdFeB rare earth magnets, will provide its EcoFlux magnets under the agreement, offering supply chain stability and high-performance capabilities.
Noveon’s EcoFlux magnets are manufactured using a process that prioritizes resource efficiency and incorporates recycled materials. This approach directly supports sustainable manufacturing while meeting the performance demands of critical industries.
With a focus on building a resilient domestic supply chain, this partnership reinforces efforts to reduce reliance on foreign materials and bolster American manufacturing capacity in strategically important sectors, including the growing EV market.
Nidec’s collaboration with Noveon highlights a significant step toward strengthening the US industrial base and ensuring the availability of advanced rare earth magnet technology to meet the increasing demand in industrial, automation, robotics, automotive, energy, and defense applications.
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