MagREEsource says it’s poised for growth in 2025

MagREEsource, based in Noyarey, France, says it will be expanding its production capacity this year to support its growth and “enhance its capacity to deliver high-performance rare earth magnets to European industries” as well as to maintain its research and development capabilities.

The company describes itself as “a link in the circular economy by offering a green metallurgical solution through short loop recycling of neodymium-iron-boron (NdFeB) magnets to secure and diversify the supply of rare earth permanent magnets to our European High-tech industries.”

On its website, the company says it seeks as feedstock “sintered magnets of any grade and size, magnetized or not.”

According to MagREEsource president and co-founder Erick Y. Petit, the firm’s announced factory expansion in Noyarey will increase its production space by an additional 400 square meters (4,300 square feet), bringing the total to 1,600 square meters (17,200 square feet).”

Says Petit, “This expansion marks a crucial step in the company’s growth strategy, which relies on innovation and its circular model (from magnet scraps to new magnets) to offer sovereign and low-carbon solutions to the wind energy, robotics, medical and aerospace industries.”

He continues, “Faced with a rapidly increasing demand, we have decided to expand our current site to integrate new production equipment to increase our capacities and finalize our vertical integration upstream to metallization. This is an essential step before the construction of the first MagFactory in 2028.”

MagREEsource says the expansion should result in the creation of about 10 new jobs in 2025.