Noveon Magnetics is the only rare earth magnet manufacturer in the United States. Noveon's patented EcoFlux™ magnet can be made from mined rare earth elements or directly from recycled end-of-life magnetic materials and are even more powerful than the magnets they were made from. By leveraging a cache of materials sourced from discarded items, such as electric vehicles and hard drives, Noveon's process is over 90% more energy efficient than traditional manufacturing and results in a stronger, more durable magnet. Noveon's magnets have critical applications in electric vehicles, MRI machines, wind turbines, defense systems, and robots.

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Funding Events

Date	Amount	Type	Investors	Valuation
05/16/23	$75,000,000	Series B	Aventurine Partners NGP	undisclosed