Noveon Magnetics Inc. Market Research Report
Company Overview
Name: Noveon Magnetics Inc.
Mission of the Company: Developing a better magnet isn’t just our mission — it’s our responsibility.
Founded by Whom: No information is available.
Founded When: No information is available.
Key People in the Company:
- Scott Dunn - Chief Executive Officer
- Hugo Haussner - Chief Operating Officer
- Viji Subramanyam, PhD - Chief Financial Officer
- Miha Zakotnik, PhD - Chief Technology Officer
- Peter Afiuny - Chief Commercial Officer
- Catalina Oana Tudor, PhD - Chief Information Officer
- Navin Bhandarkar, PhD - Vice President of Engineering
- Alex Bevan, PhD - Director Production Engineering
- Davide Prosperi, M.Sci. - Director of Quality
Headquarters: 1550 Clovis Barker Road, San Marcos, TX 78666
Number of Employees: No information is available.
Revenue of the Company: No information is available.
Known For: Noveon Magnetics is known for its next-generation EcoFlux magnets that are powerful, sustainably produced, and efficient.
Products
Primary Product: EcoFlux Sintered Magnets
High-Level Description:
The EcoFlux magnets are designed with breakthrough technology to improve composition and microstructure, making them high-performance and sustainably produced. They meet comprehensive performance requirements with a special emphasis on high-growth, high-temperature applications.
Key Features:
- Recyclable Materials: Can be produced with virgin materials to 100% recycled feedstock.
- Reduced Rare Earth Dependency: Requires 20% less heavy rare earth materials.
- High Performance in Adverse Conditions: Performs better at higher temperatures and harsher environments.
- Thermal Stability: Exhibits the highest thermal stability with least amount of heavy rare earth elements. Exhibits <5% irreversible losses above 180°C.
- Resource Efficiency: Uses advanced GBE® and M2M® technology to manufacture magnets with high magnetic flux, higher coercivity, increased resistivity, and superior thermal stability.
- Flexibility of Feedstock: Can use any and all raw materials for production, including 100% recycled materials.
- Resource Efficiency & Sustainability: Achieves over 90% energy savings and significantly reduces the environmental impact by over 50%.
- Secure Supply Chain: Domestic sourcing mitigates reliance on China, allowing for the bypassing of price fluctuations and supply interruptions.
Recent Developments
New Products Launched:
- EcoFlux Sintered Magnets: High-performance, sustainably produced for high-temperature applications.
New Features Added to Existing Products:
There is no mention of new features added to existing products.
New Partnerships:
- Australian Strategic Materials to sell rare-earth alloy to Noveon Magnetics.
- Noveon targets rare earth magnet production with recycled inputs, secured $75 million Series B funding round to scale operations.
Other Recognitions:
- Noveon was recognized by Fast Company as a “Most Innovative Company” in Manufacturing 2023.
- Scaling operations at its 150,000-square-foot facility in San Marcos, Texas.
- Received funding and backing from major industry leaders and is included in military and renewable energy initiatives due to its advanced magnetic materials.
Note: Some of the recent developments underscore Noveon's efforts to bolster a domestic supply chain, circumvent foreign dependencies, and fast-track its growth to meet rising demand for electric and sustainable technology solutions.
Noveon Magnetics Inc. remains poised to redefine the rare earth magnet industry through sustainable practices, innovative technology and a commitment to reducing environmental impact while maintaining superior product performance.