What REalloys does

REalloys Inc. (NASDAQ: ALOY) is a publicly traded U.S. corporation building a vertically integrated, non-Chinese-nexus mine-to-magnet rare earth platform headquartered at its Euclid, Ohio manufacturing facility. Following its February 24, 2026 listing via merger with Blackboxstocks Inc., the company operates four integrated layers: (1) upstream resource access through its 100%-owned Hoidas Lake project in Saskatchewan (Measured and Indicated Mineral Resource of 2,153,000 metric tonnes TREO at 1.906%) and binding/non-binding offtakes covering Tanbreez in Greenland, Araxá in Brazil, Patriot's Appalachian Basin, Ramaco's Brook Mine in Wyoming, U.S. Critical Materials' Sheep Creek in Montana, and WVU Mission Critical Materials' acid mine drainage streams; (2) midstream processing via a strategic partnership with the Saskatchewan Research Council that includes approximately $20.6M of committed upgrades and an 80% exclusive offtake right; (3) downstream heavy rare earth metallization at the only such North American platform (PMT Critical Metals, Euclid), which has supplied DLA, DOE Ames National Laboratory, and NASA since 1997 and is being expanded with a ~$40M, ~30 t/yr dysprosium and 15 t/yr terbium facility targeting 2027; and (4) permanent magnet manufacturing across NdFeB, SmCo, next-generation SmFe12, and rare-earth-free MnBi chemistries. Proprietary technology includes a patent-pending hydrofluoric-acid-free fluorination process (demonstrated fluoride at 0.34 wt% oxygen versus a 1 wt% industrial threshold) and a zero-liquid-discharge AI-controlled solvent extraction system engineered outside China.

REalloys' revenue model is currently pre-commercial-scale, with disclosed quarterly revenue of approximately $0.63 million anchored by named government contracts including a $1.7M Defense Logistics Agency award via Terves LLC for engineering of a ~300 ton/year modular samarium/gadolinium facility and a separate $1.7M DoD facility design contract. The company pursues an enterprise and government field-sales motion targeting U.S. Protected Markets — the National Defense Stockpile, Defense Industrial Base, Nuclear Industrial Base, robotics, electric aviation, and critical infrastructure — via long-term offtake agreements, Defense Industrial Base Consortium qualification, and bilateral contracting with defense prime contractors such as Lockheed Martin, Northrop Grumman, and General Dynamics. Pricing on binding offtakes is tied to international rare earth oxide benchmarks with floor-price protection; reference pricing observed in market commentary includes dysprosium at $800-$931/kg domestically and $1,200-$1,500/kg ex-China, terbium above $4,000/kg outside China, and NdPr in the $130-$150/kg range in China. Future revenue layers include Phase 1 heavy rare earth metal sales (2027), Phase 2 NdFeB magnet capacity scaling from 3 ktpa in 2029 to 18 ktpa by 2035, and a long-term target of 10,000 tons/year of finished magnet capacity, supported by roughly $150M of 2026 equity capital, a $200M U.S. EXIM Bank Letter of Interest, and a board and advisory lineup that includes former Secretary of Defense Chief of Staff Joe Kasper, GM Defense President Stephen duMont, retired General Jack Keane, former UBS Vice Chairman Bob Foresman, former Canadian Ambassador David MacNaughton, and former Saskatchewan Premier Brad Wall.

The company's strategic positioning is anchored to the January 1, 2027 DFARS 252.225-7052 deadline banning Chinese-origin rare earths from U.S. defense systems and a formal U.S. Department of War memorandum designating dysprosium and terbium as critical national security priorities. Founded 2024 (with operating roots at PMT Critical Metals dating to 1997), REalloys employs 11-50 staff, was added to the Russell 3000 Index in June 2026, and trades on NASDAQ under ALOY with major analyst coverage from Clear Street (Buy, $35 PT), Miletus Research (Buy, $19 PT), and Needham (Strong Buy).

Name

REalloys

Legal name

REalloys Inc.

Website

https://realloys.com

Company type

Public

Founded year

2024

Operating status

Operating

Headcount range

11–50 employees

Short description

REalloys (NASDAQ: ALOY) is a US-based, vertically integrated rare earth metals and permanent magnet manufacturer building the only non-Chinese-nexus, mine-to-magnet platform in North America to supply DLA, DOE, NASA, and defense prime contractors ahead of the January 2027 DFARS deadline.

Ownership category

akta.pro rank

Product category

Rare Earth Metals and Permanent Magnets Manufacturing

NAICS

Nonferrous Metal (except Aluminum) Smelting and Refining (33141)

SIC

Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Rare Earths Separation & Refining (Oxides/Metals) (IMAKAFAH)

Keywords

• Rare earth metals
• Permanent magnets
• Rare earth processing
• Heavy rare earths
• Magnet manufacturing

Headquarters

HQ city

Euclid

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Government contract sales (defense and federal): Pre-revenue at commercial scale; existing revenue consists of contracted sales of high-performance magnet materials, critical metals, and alloys to US federal agencies (Defense Logistics Agency, Department of Energy / Ames National Laboratory, NASA) and US Protected Market customers via Euclid, Ohio facility. Includes a $1.7M Defense Logistics Agency contract for engineering of a modular samarium/gadolinium facility and a Department of Defense contract up to $1.7M for facility design.
2. Planned commercial rare earth metal and alloy sales: Future revenue stream from commercial-scale sales of rare earth metals (NdPr, dysprosium, terbium, samarium, gadolinium) and magnet materials. Planned production at Euclid, Ohio facility: ~30 tonnes dysprosium, 15 tonnes terbium, and 400-600 tonnes NdPr metal annually. Phase 1 production targeted for early-to-mid 2027 with approximately $40M facility fully financed through $50M public offering.
3. Planned permanent magnet production and sales: Phase 2 (planned by 2029) of company buildout will vertically integrate NdFeB magnet manufacturing with planned capacity scaling from 3 ktpa in 2029 to 18 ktpa by 2035, targeting 10,000 tons/year of magnet capacity, with target of establishing 5,000+ tons/year of magnetic material and finished magnet capacity by end of 2030.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

REalloys operates a vertically integrated mine-to-magnet rare earth platform producing high-purity rare earth metals (Neodymium, Praseodymium, Dysprosium, Terbium, Samarium, Gadolinium, Yttrium, Scandium) and permanent magnets (NdFeB, SmCo, SmFe12, MnBi) for US defense, aerospace, and industrial applications. The company controls the full value chain from upstream resources (Hoidas Lake mine, Tanbreez, Araxá, Patriot, Ramaco, USCM) through midstream processing via Saskatchewan Research Council (SRC) partnership to downstream alloying, powder production, and magnet manufacturing at its 54,000 sq ft Euclid, Ohio facility.

Product overview

REalloys operates a single, vertically integrated mine-to-magnet platform rather than a suite of independent products. Its offering spans four tightly linked layers: (1) upstream resource access across Hoidas Lake (Canada), Tanbreez (Greenland), Araxá (Brazil), Patriot Exploration & Mining, Ramaco Resources, and U.S. Critical Materials; (2) midstream rare-earth oxide and metallization through an exclusive partnership with the Saskatchewan Research Council (SRC) and its own HF-free fluorination technology; (3) downstream rare-earth metal and alloy production (Rare Earth Metals including Neodymium, Praseodymium, Dysprosium, Terbium, Samarium, Gadolinium, Yttrium, and Scandium); and (4) permanent magnet manufacturing at its Euclid, Ohio facility producing NdFeB Magnets, SmCo Magnets, and the next-generation SmFe12 Magnets and MnBi Magnets. The platform is designed to qualify under DFARS 252.225-7052 ahead of the January 1, 2027 deadline banning Chinese-origin rare earths from U.S. defense procurement, with capacity targets of approximately 525 tonnes/year of NdPr metal plus 30 tonnes Dy and 15 tonnes Tb, and ambitions to scale magnet capacity toward 5,000–10,000 tons/year by 2030.

Differentiator

Problem solved

Functional benefit

Brands

• PMT Critical Metals: Wholly-owned subsidiary brand operating the Euclid, Ohio metallization and magnet materials facility, serving the U.S. Defense Logistics Agency, DOE Ames National Laboratory and other clients.

Products and services

• Rare Earth Metals Vertically integrated production of high-purity rare earth metals covering Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy), Terbium (Tb), Samarium (Sm), Gadolinium (Gd), Yttrium (Y), and Scandium (Sc) for permanent magnet and advanced applications. Production at the Euclid, Ohio facility uses diversified feedstocks including Hoidas Lake (Canada), Tanbreez (Greenland), Araxá (Brazil), and recycled magnets/e-waste.
• NdFeB Magnets Neodymium-iron-boron (NdFeB) permanent magnets of various grades for high-performance defense, EV traction motors, wind turbine generators, robotics, industrial automation, and consumer electronics applications. Manufactured using REalloys' integrated alloying, powder production, strip casting, and sintering at the Euclid, Ohio facility.
• SmCo Magnets Samarium-cobalt permanent magnets for high-temperature defense, aerospace, and industrial applications including precision-guided munitions fin actuators, traveling wave tubes (TWT), klystrons, radar systems (PATRIOT phased array, RF circulators), and aircraft generators. Sourced from REalloys' Samarium and Gadolinium metallization capability.
• SmFe12 Magnets Next-generation samarium-iron (SmFe12) permanent magnets with theoretically higher energy product than NdFeB (up to 70 MGOe versus 64 MGOe) and free of heavy rare earths and critical materials. Offer higher magnetization at 150-200°C and improved thermal stability, targeted at traction drives, high-temperature motors, and aerospace applications.
• MnBi Magnets Manganese-bismuth (MnBi) rare-earth-free permanent magnets filling the gap between ferrite and rare-earth magnets. Exhibit positive temperature coefficient of coercivity (~1.5%/°C) with Hcj as high as 28 kOe at 255°C, suitable for high-temperature applications where NdFeB requires Dy additions.
• Mine-to-Magnet Integrated Supply Chain Platform 100% vertically integrated platform spanning upstream resources (Hoidas Lake mine, Tanbreez, Araxá, Patriot, Ramaco, USCM), midstream processing (SRC partnership, HF-free fluorination technology), and downstream permanent magnet manufacturing at the Euclid, Ohio facility. Combines NdFeB, SmCo, SmFe12, and MnBi magnet production from a zero-Chinese-nexus supply chain for US Protected Markets.

Quantifiable outcome

• 80% exclusive offtake secured from Saskatchewan Research Council's expanded rare earth processing facility (NdPr, dysprosium, terbium)
• +7 more outcomes

Named customers7 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

16 partnerships are on record, tiered major, flagship and minor.

• Patriot Exploration & Mining, LLCmajorStrategic or Co-development Partner · 4 June 2026Non-binding Letter of Intent signed June 4, 2026 to secure priority access to up to approximately 30% of Patriot's rare earth production from its Appalachian Basin sites spanning over 150 tested sites from Alabama to Pennsylvania. Resource network estimated 2 billion metric tonnes of above-ground rare earth-bearing material containing neodymium, praseodymium, dysprosium, and terbium. Includes metallurgical test work and pilot-scale validation. Part of REalloys' 'zero-adversary-nexus' supply chain strategy aligned with January 1, 2027 DFARS deadline.
• Ramaco ResourcesmajorStrategic or Co-development Partner · 28 May 2026Non-binding MOU signed May 28, 2026 to evaluate long-term partnership for the supply and commercialization of mixed rare earth carbonate (MREC) and scandium oxide from Ramaco's Brook Mine operation in Wyoming. Under the framework, REalloys may secure supply rights for up to 20% of Ramaco's future MREC and critical materials production. Companies to collaborate on metallurgical testing, product qualification, and commercial evaluation. REalloys to perform separation and alloy metallization processing at its facilities.
• Critical Metals Corp. (NASDAQ: CRML)flagshipStrategic or Co-development Partner · 20 May 2026Definitive 15-year binding offtake agreement covering 15% of monthly Phase 1 production from the Tanbreez Project in southern Greenland — one of the world's largest known heavy rare earth deposits (45 Mt at 0.4% TREO, 27% heavy REE concentration). Priority rights to dysprosium and terbium concentrates plus Right of First Refusal on additional volumes and two additional 5-year renewal options. Pricing linked to international rare earth oxide benchmarks with floor-price protection; shipments FOB from deep-water port. Critical Metals received a $120M letter of interest from US EXIM Bank. Phase 1 nameplate capacity: 15,000 metric tons of rare earth concentrate per annum.
• Grassi & Co.minorOthers · 20 April 2026Appointed as REalloys' new auditor on April 20, 2026, replacing the dismissed Victor Mokuolo CPA. Grassi & Co. is a US accounting and advisory firm providing audit services for the public company.
• U.S. Critical Materials Corp. (USCM)majorStrategic or Co-development Partner · 1 April 2026Strategic alliance signed April 1, 2026 to advance US rare earth independence through domestic supply chain. Non-binding MOU for up to 10% offtake from USCM's Sheep Creek rare earth deposit in Montana, with confirmed reserves of dysprosium, terbium, yttrium, and NdPr used in defense systems. Includes advancing metallurgical test work, negotiating a long-term offtake agreement, and developing environmentally conscious processing technology.
• Joe Kasper (former U.S. Secretary of Defense Chief of Staff)majorStrategic or Co-development Partner · 30 March 2026Joe Kasper was appointed as Chair of REalloys' Advisory Board on March 30, 2026, focusing on securing supply chains for the US defense industrial base. The appointment brings deep Pentagon experience and political relationships to support REalloys' positioning for the January 1, 2027 DFARS deadline.
• Blackboxstocks Inc. (NASDAQ: BLBX)flagshipStrategic or Co-development Partner · 24 February 2026Merger target relationship culminating in NASDAQ listing approval on February 24, 2026, with the merger closing that day after market close. The combined company operates as REalloys Inc. (NASDAQ: ALOY), and Blackbox's social media trading platform supported REalloys' transition to public markets. The merger provided REalloys a public listing and access to Blackbox's investor base.
• Bob Foresman (former Vice Chairman of UBS Investment Bank)majorStrategic or Co-development Partner · 18 February 2026Former Vice Chairman of UBS Investment Bank Bob Foresman was appointed to REalloys' Board of Directors on February 18, 2026, bringing deep capital markets and strategic advisory experience.
• General Jack Keane (retired)majorStrategic or Co-development Partner · 9 February 2026Retired four-star General Jack Keane was appointed to REalloys' Board of Directors on February 9, 2026. His addition reflects the growing strategic importance of rare earth processing in defense planning.
• Mission Critical Materials (West Virginia University)majorStrategic or Co-development Partner · 6 January 2026Strategic partnership announced January 6, 2026 to build the first US mine-waste-to-magnet supply chain. WVU's Rare Earth Elements Initiative extracts rare earth elements from acid mine drainage (AMDREE technology) and hard-rock mine drainage, including from red mud, e-waste, and mine tailings without new mining. Partnership leverages WVU's for-profit startup Mission Critical Materials to commercialize the technology and supply REalloys' downstream operations.
• Japan Organization for Metals and Energy Security (JOGMEC)majorStrategic or Co-development Partner · 22 October 2025Strategic MOU signed October 22, 2025 to strengthen US-Japan rare earth supply chain cooperation. The partnership supports technology transfer and supply chain coordination between REalloys and Japan's government-backed metals and energy security organization, addressing the shared allied interest in reducing dependence on Chinese rare earth processing.
• GM Defense (Stephen duMont)majorStrategic or Co-development Partner · 20 October 2025GM Defense President Stephen duMont was named Chairman of REalloys. The appointment reflects the strategic alignment between GM Defense and REalloys' mission to secure domestic rare earth and permanent magnet supply for US defense applications.
• St George Mining Limited (ASX: SGQ)majorStrategic or Co-development Partner · 18 September 2025MOU signed September 18, 2025 to collaborate on commercialization of rare earth minerals from St George's Araxá Project in Minas Gerais, Brazil — the largest and highest-grade carbonatite-hosted rare earths deposit in South America (40.6 Mt at 4.13% TREO; second highest-grade REE deposit globally in the Western world). Long-term offtake agreement to secure REalloys access to up to 40% of Araxá's rare earth production. Collaboration on advanced processing programs to maximize recoveries and optimize flowsheet for US protected markets.
• Brad Wall (former Premier of Saskatchewan)majorStrategic or Co-development Partner · 1 August 2025The Honorable Brad Wall, 14th Premier of Saskatchewan (2007-2018), was appointed to REalloys' Board of Directors on August 1, 2025. Wall contributes public policy expertise and Saskatchewan-specific political relationships to support the company's HLREE Project and SRC partnership.
• David MacNaughton (former Canadian Ambassador to the United States)majorStrategic or Co-development Partner · 29 July 2025David MacNaughton, Canada's former Ambassador to the United States (2016-2019) and lead negotiator of USMCA, was appointed to REalloys' Board of Directors on July 29, 2025. He contributes expertise in US-Canada public-private partnerships, trade negotiations, and North American statecraft to support the company's Canada-US critical mineral consortium strategy.
• Saskatchewan Research Council (SRC)flagshipStrategic or Co-development Partner · 19 May 2025Joint MOU signed May 19, 2025 to advance REalloys' commercial production of high-performance rare earth magnet materials. SRC's Saskatoon Rare Earth Processing Facility began commercial-scale processing in July 2024 and is North America's first vertically integrated REE processing complex with monazite cracking, uranium/thorium removal, and AI-controlled zero-liquid-discharge solvent extraction. REalloys committed ~$20.6M toward upgrades and secured exclusive preferred rights to up to 80% of expanded commercial output (NdPr, dysprosium, terbium). Target initial commercial production early 2027. Plans to produce ~525 tonnes NdPr, 30 tonnes dysprosium, 15 tonnes terbium annually.

Scale indicators17 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• USA Rare Earth: US privately-held company developing the Round Top heavy rare earth project in Texas and pursuing downstream magnet manufacturing. Highly comparable as a US rare earth-to-magnet platform with government/defense focus, though still in earlier development than REalloys' operational Euclid facility.
• Neo Performance Materials: Canada-listed manufacturer of rare earth permanent magnets and materials serving automotive, electronics, and industrial customers. Directly comparable in NdFeB/specialty magnet manufacturing and rare earth downstream processing, though with existing Chinese exposure REalloys explicitly avoids.
• MP Materials: Operator of the Mountain Pass rare earth mine and mill in California and the largest Western rare earth producer. Directly comparable as a US-domiciled, non-Chinese rare earth platform targeting magnets and defense applications, though MP is upstream-focused where REalloys spans mine to magnet.

Broad incumbents

• TDK Corporation: Japanese electronics and magnet manufacturer with significant rare earth magnet (NEOMAX) production. Comparable as a major NdFeB magnet producer serving automotive and industrial customers globally.
• Energy Fuels: US uranium and rare earth processor that has moved into rare earth oxide production at its White Mesa Mill. Comparable as a Western midstream processor diversifying into rare earths, though not yet a fully integrated magnet producer like REalloys.
• Shin-Etsu Chemical: Japanese chemical conglomerate and one of the world's largest NdFeB magnet producers. Comparable in permanent magnet manufacturing scale and technology, but a much larger incumbent with established Chinese-tied supply chains that REalloys explicitly avoids.
• Lynas Rare Earths: Largest non-Chinese rare earth miner and processor, operating Mt Weld in Australia and a separation plant in Malaysia. Comparable as a major ex-China rare earth oxide/processing player; broader in scale and more upstream-focused than REalloys but a key benchmark for non-Chinese supply.

Regional players

• Iluka Resources: Australian mineral sands and rare earth processor developing the Eneabba rare earth refinery. Comparable as a non-Chinese rare earth midstream processor, though focused on Australian feedstock rather than the integrated North American defense supply chain REalloys targets.

Emerging players

• Critical Metals Corp. NASDAQ-listed developer of the Tanbreez heavy rare earth project in Greenland — REalloys' binding offtake counterparty. Comparable as a non-Chinese heavy rare earth resource, but upstream-only rather than the integrated midstream/downstream platform REalloys is building.

Others

• Saskatchewan Research Council (SRC): Canadian Crown corporation operating North America's first commercial-scale rare earth processing facility in Saskatoon and REalloys' flagship midstream partner (80% offtake). Strictly a partner rather than a competitor, but the most direct functional comparator to the missing midstream layer REalloys is restoring.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/about

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors

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

M&A1 record

Investments

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

Frequently asked questions about REalloys