# 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.

- Type: New facility
- Announced: 2022-11-09
- Where: Ida Viru County, Estonia, Estonia
- Value: $19.5M (18.7M EUR)
- Starts operating: 2025
- Status: announced
- Products: sintered rare earth permanent magnets
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Neo Performance Materials Inc.](https://endata.com/companies/34625.md)
- [Silmet](https://endata.com/companies/66579.md) (partner)

## Sources

- [newswire.ca](https://www.newswire.ca/fr/news-releases/neo-performance-materials-to-receive-first-ever-grant-under-europe-s-just-transition-fund-for-neo-s-planned-sintered-rare-earth-magnet-manufacturing-plant-in-estonia-842835024.html), 2022-11-09: "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"
- [investinestonia.com](https://investinestonia.com/e100-million-magnet-factory-will-be-built-in-narva/), 2022-11-11: "These investments will substantially boost the local economy and could create a highly technolo"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.