August 3, 2023

REEMAG Joins the Global Rare Earth Industry Association

The Rare Earth Industry Association (“REIA” or the “Association”) is pleased to report that REEMAG LLC (“REEMAG” or the “Company”) has become a member of the Association.

REEMAG has developed a patented, carbon-free process that converts end-of-life NdFeB permanent magnets into their original rare earth powders.

Using its proprietary technology, REEMAG’s patented process allows for the reduction of scrap, e-waste, off-cuts, SWARF, and end-of-life rare earth magnets back to a state of reuse as an input in creating new permanent magnets.

Pini Althaus, Co-Founder and CEO of REEMAG commented, “Whilst there is a warranted global initiative to explore and mine for rare earths required for the energy transition, given the anticipated significant shortfalls to meet the demand for rare earths, either in oxide form or as completed permanent magnets, alternative sources for these materials are required. Utilizing REEMAG’s patented process to recycle already-ubiquitous end-of-life permanent magnets is a logical step to closing some of the gap between supply and demand. And using a carbon-free process to achieve this creates a circular economy for these much-needed elements”.

Mr. Althaus continued, “Since its inception, REIA has been instrumental in bringing key stakeholders in the critical minerals supply chain together. We are proud to be a member of REIA and look forward to collaborating with our co-members”.

Dr. Badrinath Veluri, President of REIA, commented, “We are very pleased to welcome REEMAG to the Association, as our newest member. The Company’s activities in the recycling of rare-earth permanent magnets should benefit from plugging into REIA’s strong industry network. We look forward to working with REEMAG and to building a strong partnership”.

About REEMAG LLC

REEMAG is a United States company founded in 2022. REEMAG provides a low-cost, and carbon-free method to produce magnets with minimal environmental impact. The Company developed a process that allows for the reduction of scrap, E-waste, off-cuts, SWARF, and end-of-life rare earth magnets back to a state of reuse as an input to the creation of new permanent magnets by two patented technologies. REEMAG’s mission is to optimize production, lower carbon footprint, and secure critical raw materials needed for the manufacturing of permanent (NdFeB) magnets. Learn more at www.reemag.net

About the Rare Earth Industry Association (REIA)

The Rare Earth Industry Association is a global, Belgium-based not-for-profit organization founded in 2019. REIA’s mission is to serve, promote and advance the sustainable development of the global rare-earth-element value chain. The Association’s 75 members are drawn from across the entire REE value chain, including public and private companies, research and academic institutions, government entities, policymakers, and other stakeholders. REIA is currently developing a framework and guidelines to help standardize ESG reporting accepted by upstream, midstream, and downstream participants. The Association provides its members with a platform for networking and benchmarking; for making their voice heard by policymakers, regulators, and other key stakeholders; for finding potential partners and collaborators; for accessing and sharing data, information, and best practices; and gaining visibility and highlighting their engagement towards a more sustainable supply chain.