HyProMag GmbH opens German plant
Analysis based on 8 articles · First reported Apr 28, 2026 · Last updated Apr 28, 2026
The official opening of HyProMag GmbH's rare earth magnet recycling plant in Germany is a positive development for the rare earth metals and recycling industries. It signals increased capacity for sustainable magnet production, which could benefit companies like CoTec Holdings and Novo Resources through their investments in HyProMag USA LLC and Maginito Limited. This event also contributes to strengthening domestic supply chains for critical materials, particularly in the United States, by derisking HyProMag USA LLC's future operations.
The German Germany — Federal Ministry for Economic Affairs and Energy officially opened HyProMag GmbH's second commercial-scale rare earth sintered magnet manufacturing facility in Pforzheim, Germany, on April 28, 2026. This facility will use the patented Hydrogen Processing of Magnet Scrap (HPMS) technology to separate and recycle rare earth magnets, with an initial capacity of 100 metric tons per annum, potentially scaling up to 750 tonnes. This development is a significant milestone for HyProMag GmbH and its parent company Maginito Limited, in which CoTec Holdings holds a substantial equity interest. The plant opening is expected to further derisk the rollout of HyProMag USA LLC and accelerate opportunities for U.S. customer magnet product verification, supporting the establishment of secure and resilient domestic supply chains for rare earth magnets in the United States.
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