search
rare-earth magnets
Trends
- 1Pentagon Backs $134 Million Raise for Rare-Earth Magnet Iron Startup▼Exclusive | Pentagon Joins $134 Million Raise for Startup to Make U.S. Iron for Rare-Earth Magnets
The Pentagon has joined a $134 million funding round for a startup working to produce U.S.-made iron for rare-earth magnets, the Wall Street Journal reports. The investment signals Washington's push to build a domestic supply chain for critical magnet materials, which are currently dominated by China and are essential to weapons systems, electric vehicles and electronics.