Neo Performance Materials plans sintered rare earth magnet plant in Estonia

Neo Performance Materials received a grant of up to €18.7 million from the Government of Estonia under the Just Transition Fund to construct a sintered rare earth permanent magnet manufacturing facility in Ida Viru County, Estonia. Construction is expected to launch in 2023 with operations targeted for 2025.

“Neo Performance Materials Inc. is pleased to announce that it has been awarded a grant of up to 18.7 million Euros from the Government of Estonia under Europe's Just Transition Fund program to help pay for the cost of constructing a state-of-the-art sintered rare earth permanent magnet manufacturing”newswire.ca

• 2 sources
• newswire.caNeo Performance Materials to Receive First-Ever Grant Under Europe's Just Transition Fund for Neo's Planned Sintered Rare Earth Magnet Manufacturing Plant in EstoniaNeo Performance Materials, Inc.Nov 9, 2022
• investinestonia.com€100 million magnet factory will be built in Narva — Invest in EstoniaMykhailo SapitonNov 11, 2022

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