REEtec
- Company typePrivate
- Founded2008
- HeadquartersOslo, Norway
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
REEtec firmographics
Firmographics- Name
- REEtec
- Legal name
- REEtec AS
- Website
- https://reetec.no
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
REEtec industry classification
Industry- Product category
- Rare Earth Element Processing and Manufacturing
- NAICS
- Nonferrous Metal (except Aluminum) Smelting and Refining (33141)
- SIC
- Primary Smelting & Refining Of Nonferrous Metals (3330), Miscellaneous Metal Ores (1090)
- akta.pro primary industry
- Rare Earths Separation & Refining (Oxides/Metals) (IMAKAFAH)
- akta.pro secondary industry
- Rare Earths Mining & Concentrates (REE Ores) (IMAKAFAG)
Keywords
Where REEtec is headquartered
LocationHeadquarters
- HQ city
- Oslo
- HQ country
- Norway
- HQ region
- Europe
Offices2 records
Markets served
REEtec business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Personnel, Operations, Technology or R&D, Infrastructure
Revenue model
- Rare Earth Product Sales: REEtec generates revenue through the sale of high-quality rare earth products, primarily neodymium and praseodymium (NdPr) oxides. The first industrial plant will provide annual production of 720 tons of NdPr oxide, representing approximately 5% of estimated EU demand. Products are sold to European manufacturers for use in electric motors, wind turbines, robots, and pumps. The company has secured offtake for 80% of NdPr from the first plant including a 5-year contract with Schaeffler Group.
- Offtake Agreement Revenue: Long-term offtake agreements with customers provide contracted revenue. REEtec has secured offtake for 80% of NdPr output from first plant, including a 5-year contract with Schaeffler Group. Supply agreement with Vital Metals provides 750t NdPr per year over 5 years from Canadian operations.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
REEtec product offering
Product offeringCore offering
REEtec manufactures rare earth elements, primarily neodymium and praseodymium (NdPr) oxides, using its own proprietary separation technology. The company operates the first industrial-scale demo-plant in Europe at Herøya Industrial Park in Porsgrunn, Norway, and supplies high-purity rare earth oxides (99% to 99.999%) to industrial manufacturers for use in permanent magnets in electric vehicles, wind turbines, robots, and pumps.
Product overview
REEtec is a rare earth element (REE) separation company that has developed a proprietary, environmentally friendly technology for separating and producing high-purity rare earth elements. Their core products include high purity rare earth oxides (99% to 99.999% purity) and specifically Neodymium/Praseodymium (NdPr) oxide for permanent magnets used in electric vehicles and wind generators. REEtec operates the first industrial-scale demo-plant since 2019 and is completing their first full-scale production plant at Herøya Industrial Park in Norway. The company's separation technology reduces CO2 emissions by 90% compared to conventional suppliers, recovering and re-utilizing virtually all consumables in the production process.
Differentiator
Problem solved
Functional benefit
Products and services
- High Purity Rare Earth Oxides High-quality rare earth products covering most oxides and nitrates at different purity levels (99% to 99.999%). All products are thoroughly analyzed by the REEtec Analytical laboratory and documented under the REEtec Quality Control system. Sold to industrial manufacturers for use in permanent magnets, electronics, and other high-tech applications.
- Neodymium/Praseodymium (NdPr) Oxide Primary product of REEtec - NdPr oxide for manufacturing permanent magnets used in electric motors, wind turbines, robots, and pumps. First plant will produce 720 tons annually, representing approximately 5% of estimated EU demand. Used by European industrial manufacturers including Schaeffler Group under a 5-year supply contract.
Quantifiable outcome
- 90% CO2 reduction compared to other leading suppliers
- +2 more outcomes
Companies that use REEtec
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles2 records
REEtec technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
REEtec partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core.
- Schaeffler GroupcoreGlobal automotive supplier signed a 5-year contract for NdPr oxide supply from REEtec's first plant. Represents significant commitment to European rare earth supply chain. Part of securing 80% offtake for first plant production.
- Vital MetalscoreREEtec signed a five-year off-take agreement with Vital Metals for rare earth oxide (REO) product from Vital's Nechalacho mine in Canada's Northwest Territories. Agreement includes option to increase volumes up to 5000 tonnes REO per annum over 10 years. In October 2021, agreement was amended to increase volume by 50% - 750t NdPr per year over 5 years representing 75% of Vital's expanded Saskatoon plant capacity.
- YaracoreREEtec commenced production of rare earths at Heroya in August 2020 utilizing raw material from Yara's production stream. Yara's phosphate rock processing (approximately 650,000 tons annually containing 0.3-1.0% REEs) provides feedstock. Yara Technology scales up plant to handle larger volumes producing concentrate, then REEtec separates into individual rare earths. Described as circular industry in practice.
- SecREEts Consortium PartnerscoreSecREEts is an EU Horizon 2020 funded project (EUR 12.5 million grant) involving REEtec, Yara, SINTEF (project coordinator), Less Common Metals (LCM) in UK, and Vacuumschmelze (VAC) in Germany. SINTEF provides metallurgical science expertise. LCM produces metals and alloys from REEtec's oxides. VAC produces permanent magnets. Participating customers include Siemens, GE Health Care, and Grace.
- SINTEFcoreNorwegian research institute heads and coordinates the SecREEts project. Provides support for development of processes and routines at Yara and REEtec. Strengthens its own expertise in rare earth extraction. Leading Norwegian competence center on metallurgical science.
- Less Common Metals (LCM)coreUK-based company produces metals and alloys from rare earth oxides delivered by REEtec in the SecREEts project value chain. Part of European rare earth to magnet supply chain.
- Vacuumschmelze (VAC)coreGerman leading manufacturer of permanent magnets uses alloys from LCM (produced from REEtec's separated rare earth elements) in their production. Part of European REE to magnet value chain.
Scale indicators7 records
Recent moves8 records
Expansion highlights5 records
REEtec competitors and assessment
Company assessmentEmerging players
- Energy Fuels: Energy Fuels processes monazite sand at its Utah facility to produce mixed rare earth carbonate and is expanding into NdPr separation. As a US-listed emerging REE processor, it is a partial competitor to REEtec, focused on Western critical-minerals supply but still building its separation capability.
- Arafura Resources: Arafura is developing the Nolans NdPr project in central Australia, targeting integrated rare earth mining and separation. It competes for the same non-China NdPr supply opportunity and shared Western OEM customer base as REEtec, but is at an earlier development stage.
Broad incumbents
- China Northern Rare Earth Group: The largest Chinese state-owned REE conglomerate and dominant global supplier of light rare earth oxides including NdPr. It is the primary incumbent competitor REEtec is designed to offset, with significant cost and scale advantages that shape global REE pricing dynamics.
- Solvay: Solvay operates the La Rochelle rare earth processing facility in France, historically one of Europe's only REE separation sites. As a broad incumbent chemical company with overlapping rare earth capabilities, it represents potential competition and an alternative European supply source for downstream customers.
- Shenghe Resources Holding: Shenghe is one of China's major integrated rare earth miners and separators, with significant NdPr oxide capacity. It is a broad incumbent representing the dominant low-cost Chinese competition that REEtec's green-tech and European-supply positioning aims to differentiate from.
Direct peers
- Neo Performance Materials: Neo Performance Materials processes rare earth oxides into engineered materials including NdPr oxide, and owns the European Silmet facility — historically closely connected to REEtec's leadership (CTO and Commercial Director previously at Silmet). Direct competitor in non-China REE separation and the closest European geographic peer.
- MP Materials: MP Materials operates the Mountain Pass mine and separation facility in California, producing separated NdPr oxide as the largest US REE producer. It competes directly with REEtec as a non-China integrated REE miner and separator serving Western EV and wind customers.
- Iluka Resources: Iluka Resources is building a fully integrated rare earths refinery in Western Australia to process monazite feedstock into separated rare earth oxides including NdPr. As another non-Chinese REE separation project backed by government incentives, it competes for the same Western customer base and policy support.
- Lynas Corporation: Australian-based Lynas is the world's largest non-China producer of separated rare earth materials, including NdPr oxide for permanent magnets. It is the most directly comparable peer to REEtec in terms of light rare earth separation technology, target customers (permanent magnet makers), and role as a non-Chinese REE supplier to Western manufacturers.
Others
- Less Common Metals (LCM): UK-based LCM produces rare earth metals and alloys from separated rare earth oxides supplied by REEtec in the SecREEts project. It is a downstream customer/ecosystem partner rather than a direct competitor, but represents the integrated European REE-to-magnet value chain REEtec is part of.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
REEtec social profiles
Digital presenceREEtec financial estimates
Financial estimateRevenue estimate
Valuation estimate
REEtec leadership team
Management profileNumber of profiles
Profiles9 records
REEtec funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
REEtec M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about REEtec
What does REEtec do?
REEtec manufactures rare earth elements, primarily neodymium and praseodymium (NdPr) oxides, using its own proprietary separation technology. The company operates the first industrial-scale demo-plant in Europe at Herøya Industrial Park in Porsgrunn, Norway, and supplies high-purity rare earth oxides (99% to 99.999%) to industrial manufacturers for use in permanent magnets in electric vehicles, wind turbines, robots, and pumps.
Is REEtec a public or private company?
REEtec is a private company. It is classified as venture growth investor backed and is currently operating.
When was REEtec founded?
REEtec was founded in 2008. It employs 1 to 10 people.
Where is REEtec based?
REEtec is headquartered in Oslo, Norway, in the Europe region.
How does REEtec make money?
Two revenue lines are on record. Rare Earth Product Sales are the primary driver. The others are offtake Agreement Revenue.
Who are REEtec's main competitors?
Emerging players on record are Energy Fuels and Arafura Resources. Broad incumbents are China Northern Rare Earth Group, Solvay and Shenghe Resources Holding. Direct peers are Neo Performance Materials, MP Materials, Iluka Resources and Lynas Corporation. Less Common Metals (LCM) is listed as an others.
Does REEtec have an API?
No public API is recorded for REEtec.
What industry is REEtec in?
REEtec's product category is Rare Earth Element Processing and Manufacturing. Its primary akta.pro industry code is IMAKAFAH, Rare Earths Separation & Refining (Oxides/Metals), with a secondary code of IMAKAFAG, Rare Earths Mining & Concentrates (REE Ores). Its NAICS code is 33141 and its SIC code is 3330.