New UK Magnet plant

£5.7M GBP

Funder	Innovate UK
Recipient Organization	Less Common Metals Limited
Country	United Kingdom
Start Date	Mar 31, 2021
End Date	Jun 29, 2022
Duration	455 days
Number of Grantees	1
Roles	Award Holder
Data Source	UKRI Gateway to Research
Grant ID	`107438`

Grant Description

This project will investigate the feasibility of building a Neodymium Boron Iron (NdFeB) magnet plant in the UK.

Initially a market study will be carried out to identify the likely future requirements for such magnets, both in terms of volumes and specifications, with focus on the growing EV industry.

A suitable plant to meet these requirements will then be scoped, and the opportunities for using innovative technologies to improve competitiveness will be assessed.