Energy and heavy industries are at a major turning point. To reach Net Zero goals, these vital contributors to the global economy require massive decarbonization. Green hydrogen and its derivatives (power-to-X(1)) will, as clean fuels, play a critical role in decarbonizing hard-to-abate and hard-to-electrify industries. […]
Creating a Circular Supply Chain for Rare Earth Elements and Critical Materials
Cyclic Materials, a Canadian advanced metals recycling company focused on producing critical materials, today announced it has raised $27 million in an oversubscribed Series A financing. The money is flowing in quickly after accomplishing its first production run of rare earth magnetic material and forging a string of partnerships with magnetics industry notables. These include chemicals giant Solvay which is planning to build a major rare earths magnet operation in Europe, and Arnold Magnetic Technologies (see related article), among others. […]
Amidst rising demand for rare earth minerals to supply magnets for manufacturers of motors for electric vehicles and for wind turbines, Japan has committed another AUDS$200 million to Australian producer Lynas Rare Earths for a favored supply chain. The latest tranche, worth about US $135 million, brings total commitment up to about US$400 million. […]
With its acquisition of FEMAG in Switzerland and earlier purchase of PowerForge, software company Gamma Technologies has been significantly bolstering its portfolio of multi-physics simulation capabilities for the design of electric machines, fuel cell systems […]
MP Materials and Sumitomo Corporation have forged a rare earths supply agreement which they say will diversify and strengthen rare earth supplies in Japan. Under the agreement, announced February 21, Sumitomo will serve as the exclusive distributor of NdPr oxide produced by MP Materials to Japanese customers. Further, the companies will collaborate on the supply of rare earth metals and other products. […]
Dutch automotive company Stellantis is aggressively advancing its e-mobility pursuits with new stakes in an eVTOL aviation venture and in fuel cell developer Symbio. Archer Aviation of Santa Clara, California and Stellantis have agreed to […]
Leveraging the roots of electrical steel laminations company Tempel Steel, acquired by Worthington Industries a year and a half ago, plans are in the works at Worthington to spin off a new separate steel processing […]
Through its new subsidiary Meritor, Cummins has acquired Siemens’ Commercial Vehicles business, a global supplier of high-performance electric drive systems for commercial vehicles. The purchase brings key capabilities in direct drive and transmission-based remote mount electric motors, inverters, software and related services for electric powertrains, says Cummins. […]
As electrification of aircraft intensifies, French aerospace firm Safran intends to be onboard in many ways. It expects to broaden its portfolio in 2023 by acquiring the €124 million aeronautical electrical systems business of Thales. […]
EV manufacturer Phoenix Motor Inc. of Pasadena, California plans to begin producing fuel cells using the manufacturing assets of Altergy Systems which it has acquired. A developer and manufacturer of all-electric, medium-duty vehicles, Phoenix says […]
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