Highlights

• Consarc Corporation delivers a VIM-SC system to Vulcan Elements, supporting domestic rare earth magnet production.
• The partnership aims to challenge China's 90% dominance in critical magnet manufacturing infrastructure.
• While a significant step forward, full strategic independence in magnet production remains a work in progress.

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In a recent press release, Consarc Corporation (opens in a new tab), an Inductotherm Group (opens in a new tab) company, and Vulcan Elements (opens in a new tab) announced the commissioning of a Vacuum Induction Melting Strip Casting Furnace (VIM-SC) at Vulcan’s facility in North Carolina. The move is framed as a turning point in the reshoring of U.S. rare earth magnet production. But does this partnership truly shift the magnetics landscape—or is it more sizzle than substance?

Let’s start with the facts. Consarc, a respected U.S. manufacturer of advanced vacuum furnaces, has indeed delivered a fully operational VIM-SC system. This equipment is critical in the production of Neodymium Iron Boron (NdFeB) alloys, the foundational material for permanent magnets used in everything from EV motors to missile guidance systems. Strip casting, in particular, is a key bottleneck in the production of rare earth magnets, so its domestic deployment is crucial. The claim that Consarc is the only U.S. supplier of both pilot and production-scale strip casting furnaces appears accurate and underscores their strategic importance.

Vulcan Elements, for its part, is a rising player in the U.S. magnet sector—one of the few aiming to compete with China’s overwhelming dominance. Its focus on transparency, traceability, and domestic control aligns with current defense and industrial policy priorities. The commissioning of this furnace supports that mission.

However, investors and stakeholders should temper excitement with realism. Nowhere in the release are production volumes, timelines, or downstream integration capabilities disclosed. Strip casting is one piece of a much larger puzzle—powder processing, pressing, sintering, and magnet finishing all remain challenges, as does securing separated rare earth feedstock. The press release, while accurate, veers toward promotional tone, hinting at a national manufacturing renaissance without detailing how or when full-scale magnet production will reach commercial scale.

REEx Focus: Consarc Corporation

First Rare Earth Exchanges looks at Consarc Corporation. Again part of Inductotherm Group, this venture was founded in 1962. Consarc Corporation is a U.S.-based manufacturer specializing in advanced vacuum and controlled-atmosphere furnaces. The aforementioned Inductotherm Group, a global leader in induction heating and metallurgical technologies, later acquired it. Since its inception, Consarc has pioneered technologies such as Vacuum Arc Remelting (VAR) and Vacuum Induction Melting (VIM), evolving over six decades into a key player in specialized metal processing.

Headquartered at 100 Indel Avenue, Rancocas (Westampton Township), New Jersey, Consarc operates a principal manufacturing facility spanning approximately 4,200 m² in New Jersey, backed by a global support network from the Inductotherm Group. The company employs between 51–200 people in the U.S, with strategic partnerships and sister facilities in Scotland, China, Japan, and Korea.

Focus & Capabilities

Consarc excels in custom-engineered furnaces designed for industries requiring ultra-pure metals—such as aerospace, defense, automotive, power generation, electronics, and biomedical sectors. Their core offerings include:

• VIM (Vacuum Induction Melting) furnaces up to 30 tonnes for superalloys and magnetic alloys
• VAR (Vacuum Arc Remelting) and ESR (Electroslag Remelting) for ultra-high purity materials
• VPIC (Vacuum Precision Investment Casting) and VIGA (VIM–Inert Gas Atomization) systems
• Custom vacuum brazing, heat-treating, and de‑oiling equipment

Consarc’s technical team provides strong after-sales and process support, including SCADA-based controls, 2D/3D modeling, operator training, and on‑site troubleshooting.

So why does this matter?  As one of a few, if only, U.S. suppliers of both pilot and production-scale strip-casting furnaces, Consarc holds a crucial position in efforts to revitalize domestic rare-earth magnet production. Its equipment underpins key upstream steps—such as casting NdFeB alloys—that are essential to establishing a sovereign supply chain for EVs, defense technology, and wind turbines.

Consarc Corporation is a mid-sized, privately held firm with roots in New Jersey and a history of vacuum-furnace innovation spanning six decades. Its custom metallurgy systems and global footprint position it as a vital enabler of high-performance alloy and rare-earth magnet production—an increasingly strategic field for American industrial security and resilience.

What about Vulcan Elements?

Founded in 2023, Vulcan Elements is a Durham, North Carolina–based startup focused on producing permanent sintered Neodymium Iron Boron (NdFeB) magnets—critical components for aerospace, defense, EVs, and renewable energy systems—from a fully domestic supply chain. Operating out of a 21,000 ft² R&D and manufacturing facility in Research Triangle Park (opened March 31, 2025), the company emphasizes transparency, traceability, and resilience, aiming to break China’s dominance—currently over 90%—in magnet production.

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With a lean team of roughly 11–50 employees, according to a LinkedIn review (opens in a new tab) led by CEO John Maslin (opens in a new tab)—a former U.S. Navy nuclear propulsion supply officer and Harvard alumnus—the tech-focused venture has secured early-stage government support through SBIR funding from the U.S. Air Force Research Laboratory. Their proprietary process integrates alloying, strip casting, pressing, and sintering capabilities in-house, positioning them among the few U.S. firms capable of delivering critical magnet infrastructure. As a deep-tech disruptor and one of 2024’s most “disruptive MBA startups,” Vulcan is designed to restore domestic magnet production with competitive cost and quality.

Vulcan Elements has raised a total of $8.9 million in funding, according to PitchBook (opens in a new tab). This includes both private funding and government contracts from the U.S. Army, Navy, and Air Force, according to Raleigh News & Observer (opens in a new tab). Their initial private funding round raised around $9 million, according to the Raleigh News & Observer. They also received a $3.7 million option and warrant investment, according to CB Insights (opens in a new tab). 

Conclusion

This is a meaningful step forward—but not a full leap. The partnership between Consarc and Vulcan represents real U.S. capacity building, especially in upstream magnet production infrastructure. However, much work remains to be done before this translates into strategic independence.

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