Evolution Metals & Technologies Corp. Takes Delivery of Additional ULVAC Magnet Production Equipment, Unlocking Ten-Fold Magnet Capacity Expansion
Globe Newswire•15/10/2026•09:04 ET
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Key Highlights
- ➤13 of 57 ULVAC equipment containers arrived; remaining deliveries are due before October ends
- ➤Annual magnet capacity expected to expand tenfold, from 1,000 to approximately 10,000 metric tons
- ➤EM&T reaffirms fiscal 2027 revenue guidance of $400 million to $460 million
- ➤January 1, 2027 DFARS deadline will prohibit specified China-origin rare earth magnets in U.S. defense systems
- ➤Expanded capacity includes 6,000 metric tons of high-performance sintered magnets
Expert Statements
Frank Moon, Chief Executive Officer of EM&T
“This is about executing growth, not planning. With DFARS taking effect in eleven weeks, the question for defense primes, drone makers and automakers is no longer whether to source magnets outside China, but where that supply will come from at scale. EM&T is executing. Today, as containers arrive at our Pohang plant by the truckload, we have the equipment, power, feedstock material, operators and seven grades of customer qualified sintered magnets representing more than 75% of the global magnet market by revenue. We are not in planning mode we are in growth execution mode.”
Christopher Clower, Chief Financial Officer and Chief Operating Officer of EM&T
“This is about delivering revenue and EBITDA. Installed capacity is what turns customer demand into revenue, and that additional capacity is now arriving on site. We are meeting the milestones driving our expansion: contracted equipment, secured power, qualified grades and compliant feedstock, all converging in Pohang. Frank and our operating team are delivering the plan we laid out for investors, and the deliveries still to come keep that plan on track as we move into 2027.”
13 of 57 containers of additional ULVAC magnet production equipment arrived in Pohang today, beginning EM&T’s ten-fold expansion to approximately 10,000 metric tons of annual non-China capacity
Expansion positions EM&T to meet the January 1, 2027 DFARS deadline barring Chinese-origin rare earth magnets in U.S. defense systems
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