European Commission recognition supports the development of rare earth magnet recycling capacity in Europe and complements HyProMag USA's efforts to establish a domestic U.S. supply chain for recycled rare earth magnetic materials
DALLAS-FORT WORTH, TX / ACCESS Newswire / October 9, 2026 / HyProMag USA LLC ("HyProMag USA" or the "Company") is pleased to note the selection of HyProMag GmbH as a Strategic Project under the European Union's Critical Raw Materials Act ("CRMA"). HyProMag GmbH was included among 46 Strategic Projects announced by the European Commission to support the development of critical raw materials supply chains across Europe.i
The European Commission stated that the selected projects are intended to contribute to the European Union's objectives of strengthening critical raw materials value chains, increasing processing and recycling capacity, enhancing competitiveness and improving supply chain resilience.
Julian Treger, Chief Executive Officer of CoTec Holdings Corp., commented: "The designation of HyProMag GmbH as a Strategic Project reflects the growing recognition of rare earth magnet recycling as an important component of critical minerals supply chains. The development of recycling capacity in Europe is complementary to HyProMag USA's objective of establishing a domestic source of recycled rare earth magnetic materials in the United States."
About HyProMag USA
HyProMag USA is developing advanced rare earth magnet recycling and manufacturing operations to establish a secure domestic U.S. supply chain for NdFeB magnets, essential components for AI infrastructure, defense systems, robotics, electric vehicles, and advanced electronics. Leveraging the revolutionary HPMS technology, developed over 15 years with over US$100 million in R&D investment, the company delivers faster magnet-to-magnet short-loop recycling that uses 88% less energy and reduces carbon emissions by 85% compared to conventional methods. HPMS accepts a wide range of magnet-bearing feedstocks - including end-of-life EV motors, data-center and industrial equipment, consumer electronics, and manufacturing scrap - enabling recovery of magnet-grade material without chemical processing.
Ownership
HyProMag USA LLC is owned 50:50 by CoTec Holdings Corp. (TSXV:CTH)(OTCQX:CTHCF) ("CoTec") and HyProMag Limited. HyProMag Limited is 100% owned by Maginito Limited which is owned on a 79.4%/20.6% basis by Mkango Magnetic Materials Limited (AIM:MKA)(TSXV:MKA) and CoTec.
For more information, please visit www.hypromagusa.com
For further information, please contact:
John Singleton - Director - john.singleton@hypromagusa.com
Will Dawes - Director - will.dawes@hypromagusa.com
Eugene Hercun - Company Communications - +1 604 537 2413
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" which involve risks and uncertainties, including statements relating to the Texas Hub, the Feasibility Study, potential future employment and production, the entering of the lease agreement for the Texas Facility, the revised Project valuation, revised capex estimates, revised production numbers and the benefits to the Company which may be implied from such statements.
Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements due to known and unknown risks and uncertainties affecting the Company, including but not limited to: resource and reserve risks; environmental risks and costs; permitting and regulatory risks; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; equipment leasing and availability; heavy equipment demand and availability; contractor and subcontractor performance; worksite safety issues; project delays and cost overruns; extreme weather events; and social, transport, or geopolitical disruptions.
The Company assumes no obligation to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release.
i https://ec.europa.eu/commission/presscorner/api/files/document/print/en/ip_26_2113/IP_26_2113_EN.pdf
SOURCE: HyProMag USA
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/hypromag-usa-notes-eu-strategic-project-designation-for-hypromag-gmbh-1235258
