CoTec Holdings Corp. Provides Update on HyProMag USA Project

CoTec Holdings Corp. announced significant progress on the Detailed Design phase of its Dallas-Fort Worth rare earth magnet recycling hub, operated by its joint venture, HyProMag USA. Engineering efforts are led by PegasusTSI Inc. and BBA USA Inc., with 25% of the design complete, integrating insights from UK and German operations.

Advancements include the adoption of Grain Boundary Diffusion techniques and expansion of throughput capacity at the University of Birmingham's pilot facility. Additionally, 900kg of recycled NdFeB alloy powder has been produced in the UK. Four potential Dallas-Fort Worth sites have been narrowed down for the hub, with permitting set to begin in the third quarter of 2025.

Expansion plans are underway for additional hubs in Nevada and South Carolina. A Concept Study for a "Long Loop" recycling process has also commenced. CoTec is in talks to secure funding from various sources, while the project aligns with the U.S. Defence Production Act Title III.