Rare earths processing startup HyProMag has launched a German subsidiary to accelerate the commercialisation of hydrogen processing of magnet scrap (HPMS) technology across Europe, according to its parent company, mineral exploration firm Mkango Resources.
Mkango said HyProMag had established the German subsidiary to provide a platform for regional growth, noting that while Germany is a major producer and market for rare earth magnets in Europe, it has no domestic sources of primary rare earths.
HyProMag and Mkango have "strong and complementary platforms for growth in both the UK and EU, and are well-positioned to capitalise on accelerating demand for rare earths".
The HPMS process for extracting and demagnetising neodymium iron boron (NdFeB) alloy powders from magnets embedded in scrap and redundant equipment was initially developed within the Magnetic Materials Group at the University of Birmingham and then licensed to HyProMag.
Rare earth magnets play a key role in clean energy technologies, including electric vehicles and wind turbine generators. They are also a key component in electronic devices, including mobile phones, hard disk drives and loudspeakers.
William Dawes, chief executive of Mkango, described the launch as "an exciting milestone for HyProMag," which will position the company well for international growth.
Additionally, Dawes said it complements Mkango's strategy to develop a rare earths processing hub in Poland.
David Kennedy, director of HyProMag, said the launch would support the company's plan to establish manufacturing centres in the UK and across the EU.
