Noveon Magnetics and Solvay announced the execution of a supply agreement for light and heavy rare earth materials, which are critical for high-efficiency electric vehicle (EV) traction motors and other electrified systems.
Under the agreement, Solvay will supply Noveon with rare earth oxides starting in 2026. The partnership represents a step toward developing a supply chain for rare earth permanent magnets.
Under this supply agreement, Solvay will provide Neodymium-Praseodymium (NdPr), Dysprosium (Dy), and Terbium (Tb) oxides to Noveon. These oxides will be extracted, including from end-of-life (EOL) materials, and support Noveon’s production of rare earth magnets for primary customers.
This agreement comes as demand for domestically produced rare earth magnets increases. By leveraging Solvay’s chemistry knowledge and Noveon’s manufacturing capacity, the partnership provides immediate production capacity at a time when new domestic capacity faces delays and global supply chain challenges persist.
Filed Under: Batteries, Electric Motor, Electrification, Magnetics, Technology News