✉news BusinessStartups first seen 7 h ago, last 48 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-based startup has raised $133 million to build a plant producing magnet-grade iron, a key input for rare earth permanent magnets used in electric vehicles, wind turbines and defense systems. The funding signals growing US investment in domestic critical minerals processing as the country seeks to reduce reliance on China's supply chain for magnet materials.
Why now: Rare earth supply chain independence is a hot topic amid US-China trade tensions and the push for domestic critical minerals production.
TexasChinarare earth industryUS critical minerals sector
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