How Ionic Technologies is Anchoring the UK Rare Earth Supply Chain through Magnet Recycling?

$IXR How Ionic Technologies is Anchoring the UK Rare Earth Supply Chain through Magnet Recycling?

Ionic Technologies, a magnet recycling business owned by Ionic Rare Earths Limited, has formed groundbreaking partnerships with Ford Technologies Limited (Ford), Less Common Metals Limited (LCM), and the British Geological Survey (BGS). This collaboration aims to establish a rare earth supply chain in the UK using recycled magnets.

Ionic Technologies utilizes cutting-edge recycling technology to produce high purity rare earths from end-of-life magnets and swarf. These rare earths will be supplied to LCM for the production of alloys, which will then be converted into magnets known as NdFeB magnets. Ford will incorporate these magnets in their electric vehicle (EV) production.

The UK government is lending support to this partnership through a £1 million project. Under this project, Ionic Technologies is named as the major beneficiary and lead collaborator, with a focus on achieving the UK's first domestic sourcing of separated high purity magnet rare earth oxides (REOs). Additionally, the government is funding ... a feasibility study, with an additional £1 million, in collaboration with the British Geological Survey, to explore the construction and dynamics of a magnet rare earth recycling plant in the UK. This funding is part of the UK Government's circular critical materials supply chains (CLIMATES) program.

These initiatives mark an important step toward UK sovereignty, as they not only develop market-leading technology but also pave the way for Ionic Technologies to commercialize the first magnet recycling facility in Belfast. This facility will meet the increasing demand for circular economy magnet REOs within the supply chain.

Ionic Technologies has received support from the UK Government for two consecutive years. The company specializes in rare earth element separation and refining technology, which is applied to the recycling of spent permanent magnets, specifically Neodymium-Iron-Boron (NdFeB) magnets. This technology enables the creation of sustainable, traceable, and sovereign rare-earth supply chains.

Ford, one of the partners in this collaboration, operates four drive production facilities globally. The majority of Ford's EU production will come from their Halewood facility in the UK, which has plans to produce nearly half a million units per annum by 2026. To support this production, over 600 tonnes of magnet raw material will be required annually. As part of the project, Ford will test and analyze the performance of magnets made from recycled rare earth elements provided by Ionic Technologies.

Each stage of the process, from magnet recycling to EV testing, generates waste materials, including magnets and swarf. However, Ionic Technologies will recycle this waste material, creating a fully circular rare earth supply chain in the UK.

The combined funding for these programs amounts to £2 million (A$3.90 million), with approximately £750,000 provided as a direct cash injection. This funding positions Ionic Technologies as the lead collaborator for the two CLIMATES projects. The company will work alongside organizations developing secure and traceable critical mineral supply chains in both the UK and the EU.

Managing Director Tim Harrison of Ionic Rare Earths highlights the significance of their technology in accelerating the mining, refining, and recycling of magnet and heavy rare earths. This is crucial for the energy transition, advanced manufacturing, and defense sectors. The CLIMATES funding received by Ionic Technologies from Innovate UK demonstrates their strategy to establish a collaborative Western supply chain for rare earths, alongside Ford Technologies and Less Common Metals in the UK and the European Union.

Thomas Kelly, General Manager of Ionic Technologies, emphasizes the value added to the business through the provided funding. The focus now lies on developing the business case and potential scale-up of a commercial magnet recycling facility in Belfast, in partnership with the British Geological Survey.

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