Vulcan Elements Rare-Earth Magnet Manufacturing Facility
Sector: Aerospace & Defense • Location: North Carolina, United States
Source: ProPublica
Vulcan Elements, a North Carolina startup specializing in rare-earth magnets, received a $620 million loan from the Pentagon to build a large new facility to produce thousands of tons of magnets annually. The company plans to ramp up production and add hundreds of new jobs in the coming years.
- Status
- Prospective
- Sector
- Aerospace & Defense, Manufacturing (Industrial), Commercial, Residential
- Location
- North Carolina, United States of America
- Updated
- 22 Jul 2026
- Source
- ProPublica
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Project Information
Participants
| Not available for this record. |
Status
Original status | planned |
Taiyo status | Prospective |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | Vulcan Elements, a North Carolina startup specializing in rare-earth magnets, received a $620 million loan from the Pentagon to build a large new facility to produce thousands of tons of magnets annually. The company plans to ramp up production and add hundreds of new jobs in the coming years. |
Original sector | Defense |
Budget |
Location
Country | United States of America (USA) |
State | North Carolina |
Source
Source | ProPublica |
URL |
More Details
Record type | Project |
Sector | Aerospace & Defense, Manufacturing (Industrial), Commercial, Residential |
Article published date | 2026-05-31 |
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