EU Passes Critical Raw Materials Act Mandating Recycled Magnets in Wind Turbines and EVsOn October 7, 2024, the European Parliament approved amendments to the Critical Raw Materials Act (CRMA), requiring a minimum 25% recycled magnet content in EU wind turbines and electric vehicle motors by 2030. T

∗InSeptember2024,theU.S.DepartmentofEnergy(DOE)launchedthe"Closed−LoopCriticalMaterialRecyclingProgram,"awarding38 million to six tech companies to develop breakthrough technologies for efficient extraction of NdFeB magnets from e-waste and motors. Notably, Noveon Magnetics' patented Hydrogen Proces

In August 2024, China Rare Earth Group announced the discovery of a super-large heavy rare earth deposit in Ganzhou, Jiangxi Province, with estimated reserves exceeding 500,000 tons of rare earth oxide (REO) equivalent. Critical elements for permanent magnets—such as neodymium (Nd), praseodymium (Pr

China Rare Earth Group has announced a 10% price increase for neodymium-iron-boron (NdFeB) magnets starting October 2024, citing tight supply of rare earth materials (e.g., praseodymium, neodymium) and rising global demand. The adjustment will directly impact industries such as electric motors, wind

As global industries accelerate efforts to achieve carbon neutrality, demand for high-efficiency motors has surged exponentially. A recent International Energy Agency (IEA) report reveals that motor systems account for 63% of industrial electricity consumption worldwide, making their efficiency crit