Evolution Metals & Technologies Secures Approximately 754 Metric Tons of Non-China Neodymium Metal, Expected to Cover Half of the Feedstock Estimated for Its 2027 Revenue Guidance

Frank Moon, Chief Executive Officer of EM&T

“There is no shortage of rare earth material. China is a net importer of rare earth ore, with approximately 60% of what it processes coming from outside China, and there is no shortage of investment in developing even more rare earth mines. What is in short supply, outside China, is commercial-scale magnet production and magnet materials producers.”

Frank Moon, Chief Executive Officer of EM&T

“Approximately 360,000 tons of sintered magnets are made each year, and only about 14,000 tons of those are made outside China. But today, those 14,000 tons are dependent on midstream magnet materials bought from China. Evolution has the equipment and capability to avoid that very issue, with more than 14,000 tons per annum of strip alloy production coming online this year as part of our planned expansion from 1,000 to more than 10,000 tons per annum of finished magnets. We have sourced rare earth magnet materials independent of China, but also continue to source from China. Our flexible, diversified business model serves both defense customers requiring DFARS compliance and commercial customers seeking non-China supply. Together with the other nine operational factors we have established, this positions us to become one of the largest magnet and magnet materials producers outside China. We are focused on executing our expansion plan, building on years of operational experience to position EM&T as a leading non-China supplier. We make magnets.”

David Wilcox, Executive Chairman of EM&T

“President Donald Trump urged defense contractors and businesses to ‘do magnets,’ telling an audience at the July 2026 Pennsylvania Defense & Innovation Summit, ‘I’ll tell you how to make money. Do magnets.’ That is what EM&T is doing, following the President’s direction.”

David Wilcox, Executive Chairman of EM&T

“We will continue to source feed material wherever and whenever we can to support revenue and margin, and to deliver shareholder returns as we target profitability in 2027. DFARS sets the requirements for defense contractors, and we will also continue to produce magnets for commercial customers whose applications do not require traceability back to the ore. Evolution was built on a diversified strategy spanning input materials, midstream materials and downstream magnet production. That enables us to serve customers across all eight of our certified high-performance grades, grow our bonded magnet business, and supply customers—primarily in Japan—that require non-China intermediate magnet materials, as we scale production with our new strip cast alloy equipment and sintering vacuum furnace system lines.”

David Wilcox, Executive Chairman of EM&T

“Our customer relationships, distribution network, and current magnet revenue support our strategy as we target profitability in 2027 and work to become a leading magnet producer outside China. We are answering the President’s call now, not in 2030.”