✉news BusinessStartups first seen 4 h ago, last 47 min ago, peak #22
Texas startup raises $133M for rare earth magnet iron plant
Original: Texas startup raises $133M to build rare earth magnet-grade iron plant
A Texas startup has raised $133 million to build a plant producing magnet-grade iron for rare earth magnets. The funding highlights growing US efforts to build a domestic rare earth supply chain, a sector currently dominated by China, as manufacturers of electric vehicles, wind turbines and defense systems seek secure sources of critical magnet materials.
Why now: Rare earth supply chains and US industrial policy are a major focus amid tensions with China over critical minerals.
Texas startuprare earth magnetsChinaUnited States
Evidence
API: https://socialmediatrends-api.osmike.com/v1/trends/420092