WASHINGTON (dpa-AFX) - The Office of the Assistant Secretary of Defense for Industrial Base Policy, through its Manufacturing Capability Expansion and Investment Prioritization (MCEIP) office, issued an award to E-VAC Magnetics to establish a domestic rare earth permanent magnet manufacturing capability. E-VAC is part of VAC Group, a manufacturer of rare earth permanent magnets.
As per the agreement, the Defense Department will provide $94.1 million to E-VAC to acquire and install manufacturing equipment, operationalize technical infrastructure, and engineer production lines. E-VAC is expected to start producing high volume rare earth permanent magnet by 2025.
Rare earth permanent magnets are essential components in the F-35 fighter jets, Unmanned Aerial Vehicles, and numerous other defense systems. These national security related uses represent a small part of the US commercial need for rare earth element magnets.
'We're building on previous DoD awards, that augment or complement other Agency investments for rare earth minerals to help establish an integrated, domestic rare earth supply chain from mine to magnet,' said Dr. Laura Taylor-Kale, Assistant Secretary of Defense for Industrial Base Policy.
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