HyProMag

What HyProMag does

HyProMag is a UK-headquartered rare earth magnet recycling company founded in 2018 as a spinout from the University of Birmingham's Magnetic Materials Group. The company commercializes the patented Hydrogen Processing of Magnet Scrap (HPMS) technology, exclusively licensed from the University of Birmingham and backed by approximately $100 million of cumulative R&D. HPMS extracts and demagnetizes neodymium-iron-boron (NdFeB) alloy powders from magnets embedded in end-of-life scrap and redundant equipment at room temperature and atmospheric pressure, enabling a short-loop, magnet-to-magnet recycling route that avoids thermal demagnetization, chemical processing, and significant manual dismantling. Reported outcomes include 88% energy reduction and 85-90% carbon emission reduction versus primary mining and conventional hydrometallurgical recycling, 96-98% separation efficiency, over 95% recycled content in produced magnets, and capability to produce N42SH grade magnets without grain boundary diffusion or primary heavy rare earth additions. HyProMag is wholly owned by Maginito Limited, which is 79.4% owned by Mkango Resources Ltd (AIM/TSX-V: MKA) with 10% held by CoTec Holdings Corp.

HyProMag sells recycled NdFeB sintered magnets (grades N35SH through EH), NdFeB alloy powder, and offers magnet scrap processing and coating services through direct enterprise sales. Named customers and partners span automotive (GKN Automotive, ZF Automotive, Jaguar Land Rover, Bentley Motors, Unipart Powertrain Applications), industrial manufacturing (Siemens for servomotors), consumer electronics (Bowers & Wilkins), and electronics recycling (Intelligent Lifecycle Solutions). Pricing is quote-based unit pricing on metric tons under multi-year contracts. The go-to-market combines sales-led enterprise field sales with consortium-driven technology validation through EU/Innovate UK-funded projects (RaRE, SCREAM, REACT UK, REAP, REEsilience, SusMagPro).

HyProMag operates commercial-scale recycling facilities at Tyseley Energy Park in Birmingham, UK (inaugurated January 2026, 100-300 tpa capacity) and Pforzheim, Germany (opened April 2026, 100 tpa initial scaling to 750 tpa). HyProMag USA is building a hub-and-spoke network with pre-processing facilities in South Carolina and Nevada feeding a planned 128,000-square-foot Dallas-Fort Worth, Texas manufacturing hub targeting H2 2027 commissioning at 1,526-1,557 tpa, with three-state expansion plans to 4,656 tpa by 2029.

Name

HyProMag

Legal name

HyProMag Ltd

Website

https://hypromag.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

HyProMag is a UK-based rare earth magnet recycling company commercializing patented Hydrogen Processing of Magnet Scrap (HPMS) technology to produce recycled NdFeB sintered magnets and alloy powders for enterprise customers in automotive, electronics, and clean energy sectors.

Ownership category

akta.pro rank

Product category

NdFeB Magnet Recycling and Manufacturing

SIC

Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Non-Ferrous Scrap Processing & Recycling (Aluminum, Copper, Brass, Lead, Zinc) (EUAIAJAB)

akta.pro secondary industry

Metal Melting & Secondary Smelting/Refining (Recycled Feedstock Producers) (EUAIAJAJ)

Keywords

• Rare Earth Recycling
• NdFeB Magnet Manufacturing
• Hydrogen Processing Technology
• Recycled Alloy Powder
• Permanent Magnet Supply

Headquarters

HQ city

Pforzheim

HQ country

Germany

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Operations, Personnel, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. NdFeB Magnet Sales: HyProMag generates revenue through the sale of recycled neodymium-iron-boron (NdFeB) sintered magnets, alloy pellets, and powder to manufacturers in automotive, electronics, and clean energy sectors.
2. Magnet Scrap Processing Services: The company processes end-of-life components containing rare earth magnets for customers, recovering and recycling NdFeB material for remanufacture into new magnets.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

HyProMag commercialises patented Hydrogen Processing of Magnet Scrap (HPMS) technology to extract and demagnetise NdFeB alloy powders from end-of-life magnets embedded in scrap and redundant equipment at room temperature and atmospheric pressure. It produces recycled NdFeB sintered magnets (grades N35SH through EH) and NdFeB alloy powder for sale to automotive, electronics, wind energy, defense and industrial customers. The company operates commercial recycling facilities in Birmingham (UK), Pforzheim (Germany), and is building a Texas hub-and-spoke network in the US.

Product overview

HyProMag operates as a rare earth magnet recycling company offering a unified platform centered on its proprietary Hydrogen Processing of Magnet Scrap (HPMS) technology. The portfolio comprises core technology licensing, recycled NdFeB sintered magnets in various grades (N35SH through EH), and NdFeB alloy powder with over 95% recycled content. The company operates commercial recycling facilities in the UK (Tyseley Energy Park, Birmingham) and Germany (Pforzheim), with HyProMag USA developing a hub-and-spoke network across South Carolina, Nevada, and Texas. Supporting services include technical consultation, magnet scrap solutions, and magnet coating services. The HPMS technology enables short-loop, direct magnet-to-magnet recycling with an estimated 88% reduction in energy versus primary production.

Differentiator

Problem solved

Functional benefit

Products and services

• Recycled NdFeB Sintered Magnets Recycled neodymium-iron-boron (NdFeB) sintered permanent magnets with over 95% recycled content, produced via HPMS short-loop recycling. Available in multiple grades (N35SH, N42M, N42SH, N45M, N45, UH, EH) for automotive traction motors, electronics, wind turbine generators and industrial applications. Customers include Siemens for servomotors and validated by GKN Automotive and ZF Automotive.
• NdFeB Alloy Powder High-purity neodymium-iron-boron alloy powder produced through HPMS processing of magnet scrap, with over 95% recycled content. Used as feedstock for remanufacture into new magnetic materials or rare earth alloys; produced as part of HPMS magnet-to-magnet short-loop recycling.
• UK Recycling Facility (Tyseley Energy Park, Birmingham) Commercial-scale rare earth magnet recycling and manufacturing plant at Tyseley Energy Park, Birmingham. Minimum capacity 100 tonnes per annum NdFeB, expandable to 300 tonnes per annum on multiple shifts. Recovers over 400 kg of rare earth alloy per batch and produces the UK's first commercial recycled rare earth permanent magnets in 25 years.
• Germany Recycling Facility (Pforzheim) Commercial-scale HyProMag GmbH rare earth magnet recycling plant in Pforzheim, Germany. Initial capacity approximately 100 metric tons per annum NdFeB, scaling to 350 tpa with multiple shifts and 750 tpa fully permitted, using HPMS technology. Opened 28 April 2026.
• HyProMag USA Recycling Operations Hub-and-spoke rare earth magnet recycling system with pre-processing facilities in Williston, South Carolina and Reno, Nevada, feeding the planned Dallas-Fort Worth, Texas manufacturing hub. Target capacity 1,526-1,557 metric tons per annum at Texas Hub; plans for three-state expansion to 4,656 tpa by 2029.
• Magnet Scrap Solutions End-of-life magnet collection and processing service accepting diverse feedstocks including hard disk drives, loudspeakers, automotive motors, electric bike motors, MRI scanners, wind turbine magnets and production scrap. Provides supply-chain outlet for customers' magnet scrap while feeding HyProMag's HPMS recycling operations.
• NdFeB Magnet Coating Services Magnet coating services including epoxy, zinc, nickel and passivation layers, developed in collaboration with businesses around the UK Midlands to support automotive and industrial customer specifications.
• Technical Consultation Services Technical collaboration and consultation services on rare earth magnet recycling, processing and manufacturing using HPMS technology, including HPMS licensing discussions and joint development with industrial partners.

Quantifiable outcome

• 88% reduction in energy consumption compared to conventional hydrometallurgical recycling
• +5 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered major and core.

• SiemensmajorStrategic or Co-development Partner · 23 April 2026HyProMag supplies recycled magnets to Siemens for use in servomotors, demonstrating commercial adoption of recycled rare earth magnets in industrial applications.
• EMR GroupmajorStrategic or Co-development Partner · 14 April 2026EMR Group is part of the REACT UK consortium for rare earth magnet recycling from end-of-life electric vehicles. EMR provides scrap handling and pre-processing expertise as a major UK metal recycler.
• Jaguar Land RovermajorStrategic or Co-development Partner · 14 April 2026Part of the REACT UK consortium led by HyProMag to establish circular UK supply chain for NdFeB magnets for electric vehicles, combining hydrogen processing with downstream processing to produce automotive-grade magnets.
• Less Common MetalsmajorStrategic or Co-development Partner · 14 April 2026Part of the REACT UK consortium contributing to development of rare earth magnet recycling for electric vehicle applications. Less Common Metals produces rare earth alloys.
• GKN AutomotivemajorStrategic or Co-development Partner · 29 January 2026GKN Automotive tested recycled magnets from HyProMag and confirmed they replicate expected performance in motor testing. Key physical testing and simulation partner in SCREAM project validating recycled magnet performance.
• ZF AutomotivemajorStrategic or Co-development Partner · 29 January 2026ZF Automotive tested recycled magnets in automotive ancillary applications requiring higher coercivity and temperature stability, validating HyProMag magnet grades for demanding automotive environments.
• Intelligent Lifecycle Solutions (ILS)coreStrategic or Co-development Partner · 27 August 2025ILS provides pre-processing of NdFeB feedstock using Inserma technology at facilities in Williston, South Carolina and Reno, Nevada. HyProMag USA has expanded its feedstock supply partnership with ILS as part of hub-and-spoke recycling system.
• Pforzheim UniversitymajorStrategic or Co-development Partner · 1 January 2023Coordinated by Institute for Precious Metals and Technology (STI) of Pforzheim University; Professor Carlo Burkhardt co-owns 20% of HyProMag GmbH and coordinates €14m SusMagPro and €13m REEsilience EU funded recycling projects.
• Advanced Electric Machines Research LimitedmajorStrategic or Co-development Partner · 27 May 2020Partner in RaRE project designing electric motors for customers including Airbus and Tevva Motors with recycled rare earth magnets, focused on reducing complexity of electrical systems and designing for recyclability.
• Bentley Motors LimitedmajorStrategic or Co-development Partner · 27 May 2020Part of VW Group, partnered in RaRE project to develop recyclable rare-earth ancillary motors for electric vehicles using recycled magnets from HyProMag.
• Unipart Powertrain Applications LimitedmajorStrategic or Co-development Partner · 27 May 2020Tier 1 automotive partner in RaRE project, designed flexible volume motor assembly line suitable for production volumes of 100,000 units per annum using recycled rare earth magnets.
• University of Birmingham - Magnetic Materials GroupcoreTechnology or Integration · 1 January 2018HPMS technology exclusively licensed from University of Birmingham where the technology was developed over 40+ years with approximately $100 million in R&D expenditure. Founding directors maintain close ties with the MMG which continues to develop new R&D opportunities.

Scale indicators12 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Cyclic Materials: Canadian rare earth recycling company operating the Magnet-to-Magnet recycling process for NdFeB magnets. Directly competes with HyProMag in the North American market for recycled rare earth materials, with similar focus on automotive and clean energy customers.
• REEtec: Norwegian company that produces separated rare earth oxides from both primary and recycled feedstocks. Comparable to HyProMag in rare earth recycling value chain, though more focused on separation/refining stage than finished magnet production.
• Urban Mining Co: US-based rare earth magnet recycler using hydrogen-based processing to recover NdFeB from end-of-life electronics and motors. Most direct comparable to HyProMag in terms of technology (also uses hydrogen decrepitation), product (recycled NdFeB magnets and alloy powder), and target markets (US automotive, electronics, defense).

Others

• Mkango Resources: Parent of HyProMag via Maginito Limited; AIM/TSX-V listed rare earth development company with primary mining interests in Malawi. Provides strategic, financial, and operational integration rather than direct competition.

Broad incumbents

• Neo Performance Materials: Global rare earth materials and magnet producer with operations across mining, separation, and magnet manufacturing. Broad incumbent competing with HyProMag across multiple geographies in rare earth materials, though focused on primary supply rather than closed-loop recycling.
• Shin-Etsu Chemical: Japanese chemical manufacturer and one of the world's largest producers of NdFeB sintered magnets. Indirect competitor to HyProMag as the dominant incumbent in primary rare earth magnets that recycled magnet producers must displace.
• Proterial (formerly Hitachi Metals): Japanese manufacturer of high-performance NdFeB magnets (NEOMAX brand) and other magnetic materials. Major incumbent in the global NdFeB magnet market, supplying automotive and electronics OEMs that HyProMag is targeting.
• VACUUMSCHMELZE (VAC): German manufacturer of magnetic materials and rare earth permanent magnets, including NdFeB grades. Operates a European magnet production footprint directly competing with HyProMag GmbH for automotive and industrial customers.
• Solvay: Belgian chemical company with rare earth materials business producing separated rare earth oxides and NdFeB alloys. Comparable to HyProMag at the materials/refining stage and a potential feedstock partner or competitor in EU markets.

Emerging players

• MP Materials: US rare earth producer operating Mountain Pass mine with downstream magnet recycling initiatives. While primarily a primary producer, MP Materials is moving into recycled NdFeB production, directly competing with HyProMag USA for US domestic magnet supply.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/hypromag-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HyProMag