MagREEsource

MagREEsource is a French rare-earth magnet recycling and manufacturing company based in Noyarey, near Grenoble, France. Founded in 2020 as a spin-out of the CNRS Institut Néel, the company makes new high-performance neodymium-iron-boron (NdFeB) permanent magnets from its own recycled material using a hydrogen-based short-loop process. It has been in production at its first site in Noyarey since December 2024 and targets a capacity of 80 metric tons a year there. In July 2025 it announced a 23 million euro financing round with Bpifrance’s SPI 2 fund under France 2030. It plans a first MagFactory with a capacity of 1,000 metric tons from 2028, which the European Commission named a Strategic Project under the Critical Raw Materials Act. The company says its magnets have a carbon footprint 91% lower than magnets from Chinese mining. Recovering rare earths such as neodymium, praseodymium and dysprosium, MagREEsource aims to help build a European supply chain for magnets used in electric vehicles, wind turbines and industrial motors.