HyProMag USA Finalizes Lease for Texas Facility

HyProMag USA, the joint venture between CoTec Holdings Corp. and HyProMag Limited, has finalized a lease for a rare-earth magnet recycling and manufacturing facility in Dallas-Fort Worth, Texas. This marks a significant step in establishing a sustainable supply chain for rare-earth magnets in the U.S.

The facility, strategically positioned within Ironhead Commerce Center, will occupy half of Building 1, spanning approximately 128,000 square feet. It aims to commence production by mid-2027, pending permitting and financing, with an expected workforce of 90 to 100 skilled employees.

The site will utilize patented HPMS technology to recycle magnets from end-of-life products. Partnerships with local entities and the electronics recycler Intelligent Lifecycle Solutions will support its operations.

This facility is part of a broader network, including pre-processing centers in Nevada and South Carolina, aimed at revitalizing the U.S. magnet sector.