Evolution Metals & Technologies Confirms Delivery of All 57 ULVAC Equipment Containers to Pohang Expansion Site, with Commissioning Under Way at the Largest Expected High-Performance Rare Earth Magnet Facility Outside China

Frank Moon, Co-Chief Executive Officer of Evolution Metals & Technologies

“Equipment like this does not come off a shelf. Sintered magnet production lines carry lead times of two years or more, and most companies haven’t even ordered equipment in this scale”

Frank Moon, Co-Chief Executive Officer of Evolution Metals & Technologies

“We placed our orders in early 2025, and all 57 containers are now on the ground at our flagship Pohang facility which is under expansion. We are moving at warp speed, and commissioning and assembly of the additional equipment has already begun.”

Frank Moon, Co-Chief Executive Officer of Evolution Metals & Technologies

“As November 10 approaches, more than 50% of our input material requirements are already on site, alongside contracted supply. Our eight Tier-1 OEM-certified grades address approximately 260,000 metric tons of an estimated 360,000-metric-ton annual market. Our experienced operators are in place, we are producing revenue selling tier one certified magnets today. Now with our expansion equipment, 880 megawatts of power, and additional land in place, we are in a unique position to be the market leader in the magnet business ex-China.”

Frank Moon, Co-Chief Executive Officer of Evolution Metals & Technologies

“We are a producer of magnets and magnet materials. With local government support for our expansion, our priority is bringing the additional equipment into production, maintaining consistent quality at greater scale and converting customer demand into shipments.”

Frank Moon, Co-Chief Executive Officer of Evolution Metals & Technologies

“We already have revenue-generating commercial operations, customer-qualified products and experienced operators. More than 50% of our input material requirements are on site, alongside contracted supply, and commissioning has begun. With US$28 million in local government grant funding expected, subject to applicable conditions, our focus is bringing the additional equipment into production and expanding customer shipments.”

Christopher Clower, Chief Financial Officer and Chief Operating Officer of Evolution Metals & Technologies

“It takes ten critical factors to manufacture rare earth magnets commercially at scale: land, power, equipment, permits, operators, feedstock, magnet products, buyers, customer certifications and capital.”

Christopher Clower, Chief Financial Officer and Chief Operating Officer of Evolution Metals & Technologies

“We believe we are the only company outside China that brings together all ten, and that our operating experience places us years ahead in delivering commercial-scale, non-China rare earth magnets to Western markets. Our focus is turning that foundation into expanded production, customer shipments and revenue.”

Frank Moon, Co-Chief Executive Officer of Evolution Metals & Technologies

“We are a magnet and magnet-materials producer, not a mining or exploration company.”

Frank Moon, Co-Chief Executive Officer of Evolution Metals & Technologies

“Our operations turn rare earth materials into metals, alloys, powders, and finished magnets. We have commercial production generating revenue, existing customers buying magnets, experienced operators, and customer-qualified products. Our expansion builds on that operating foundation, with a clear focus on increasing consistent output and delivering for customers.”