Ionic Rare Earths secures $2.46m in grants for magnet recycling collaboration

Proactive - Interviews for investors

Ionic Rare Earths Ltd managing director Tim Harrison joins Proactive’s Tylah Tully to discuss the company’s new grant funding. The company has secured A$2.46 million in grants the UK Government and was chosen to lead a magnet recycling solution collaboration. IXR subsidiary, Ionic Technologies, has received £843,000 for the 'REEValuate' Project in partnership with Less Common Metals (LCM) and Vacuumschmelze (VAC), aimed at producing 100% recycled rare earth alloys for permanent magnets. The UK Government selected Ionic Rare Earths to lead the 'MAGNOSTIC' collaboration, which focuses on advanced demagnetisation solutions for end-of-life permanent magnets. This project, valued at £422,000, will be carried out with the Materials Processing Institute and Swansea University, with Ionic Rare Earths directly benefiting from £178,000 in funding. Harrison emphasised the importance of these collaborations in establishing sustainable rare earth supply chains in Western markets, aligning with global policies like the EU Critical Raw Materials Act and the US Inflation Reduction Act. The new funding will also support Ionic Technologies' demonstration projects, contributing to the development of a circular economy for critical raw materials. The company’s recycling technology is advancing, with plans for significant magnet recycling activities through mid-2025. #ProactiveInvestors #ASX #IonicRareEarths #MagnetRecycling #UKGovernmentGrants #REEValuateProject #MAGNOSTICProject #Demagnetisation #CircularEconomy #RareEarthElements #CleanEnergy #CriticalRawMaterials #Sustainability #MagnetManufacturing #RareEarthRecycling #EndOfLifeMagnets #InnovateUK #WesternSupplyChains #SupplyChainPartnerships #ASXMining #MiningInnovation #EnergyTransition