Evolution Metals plans adjacent Pohang land buy as part of magnet capacity expansion
EMAT•Pohang land purchase and capacity expansion plan
- Evolution Metals & Technologies Corp. set terms to acquire about 1.3 million square feet of land next to its Pohang operations from the Pohang city government on a freehold basis.
- The site would support an expansion of its magnet manufacturing footprint to 482,000 square feet from 24,000 square feet.
- The plan is tied to a power infrastructure expansion to 750 megawatts from 130 megawatts, with availability targeted for November 2026.
- The expansion is intended to lift rare earth magnet output to about 10,000 metric tons a year by end-2026.
Related News
NASA Awards Infleqtion $20 Million As World's First Quantum Gravity Mission Advances Toward Flight
INFQ•
RedCloud agrees to sell 7,200,000 unregistered shares to insiders for $1.8 million in private placement
RCT•
