Company Profile

REEtec

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Private

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Overview

About REEtec

REEtec AS is a Norwegian rare earth separation company headquartered in Oslo, focused on high-quality rare earth oxides for the permanent magnet supply chain. Privately held, REEtec has developed a proprietary separation process in which, the company says, virtually all consumables are recovered and reused and electricity comes entirely from hydroelectric sources. It has operated an industrial-scale demonstration unit at Herøya Industrial Park near Porsgrunn since 2019. REEtec says it is now completing its first industrial separation plant at Herøya and that the installed equipment is being tested. According to REEtec, Swedish state-owned miner LKAB became its largest shareholder in a November 2022 financing round in which Nysnø Klimainvesteringer, Mercuria and TechMet also invested alongside existing shareholders including Scatec Innovation. LKAB has said that, together with REEtec, it can create the basis of a Nordic value chain for rare earth metals.

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