Maginito Ltd to Acquire HyProMag
In a major development for the UK, a new recycling facility for rare earth magnets is set to open in Birmingham, England. Research conducted by academics at the University of Birmingham have made this possible.
Maginito Ltd is set to acquire HyProMag, the innovative rare earth recycling corporation which was born out of research from the University of Birmingham’s School of Metallurgy and Materials. The acquisition will be instrumental in fostering the growth and global scope of technology initially tested at Birmingham which has established a blueprint for the UK’s first large-scale remanufacturing center for rare earth magnets, scheduled to debut at the Tyseley Energy Park later this year.
The technology employed by HyProMag is rooted in the Hydrogen Processing of Magnet Scrap (HPMS) process, which was discovered by scientists at the University’s Magnetic Materials Group (MMG). This method enables rare earth magnets to be pulled from scrap and discarded equipment and has been officially licensed to HyProMag.
Rare Earth Magnets and Clean Energy
Magnets composed of rare earth elements can contribute greatly to the development of clean energy sources, such as electric vehicles and wind turbine generators. Additionally, these same materials are used in many electronic appliances, from mobile phones to hard disk drives and loudspeakers.
Professor Allan Walton, Head of the Magnetic Materials Group at the University, and co-founder of HyProMag explained that “Rare earth magnets are one of the building block materials for clean growth, but the recycling rates for these magnets are very low (<5%). The technologies developed in the Magnetic Materials Group target the key challenges in order to efficiently extract these materials from a wide range of scrap sources, and to re-process these materials with a minimal environmental impact compared to primary production.”
Walton added, “Mkango / Maginito have been a strategic partner for both the University and Hypromag since 2018, with multiple joint research projects in the UK and EU. Over the last two years these projects have taken the HPMS process up the TRL levels to de-risk the technology. The investment from Maginito paves the way to fully commercialise the HPMS process and to take this technology to the global market.”
A U.S. Subsidiary on the Horizon
Since 2018, Maginito has been collaborating with HyProMag to explore the green technology possibilities associated with the rare earths supply chain (90% owned by Mkango and 10% by CoTec). Now, both companies plan on forming a new U.S. subsidiary for the purpose of cultivating more rare earth recycling opportunities.
These businesses have a shared aspiration to construct a global-reaching venture dedicated to downstream rare earth technology, featuring a distinct edge within rare earth recycling due to their patented energy-efficient technology for magnet scrap reclamation.
Creating domestic sources for recycled rare earths in countries such as Britain, Germany and America could be a major opportunity for advancing sustainable, competitive manufacturing of rare earth magnets.
The Technology’s Origins
Invented by Professor Emeritus Rex Harris, the HPMS technology is employed to convert permanent magnets bearing neodymium (Nd), iron (Fe) and boron (B) into demagnetised powder. Currently, Professor Allan Walton presides over the Magnetic Materials Group (MMG) which Harris formerly headed up.
Two Honorary Fellows, Dr. John Speight and David Kennedy, joined forces with Walton and Harris to form Hypromag in 2018. The company’s primary objective was to create a complete recycling system for the rare earth magnets made from neodymium iron boron (NdFeB).
For more than four decades, the MMG has been at forefront of research and development in rare earth alloys, and permanent magnet processing for applications of hydrogen technology. Its four founders have achieved a status as world-renowned specialists in this field, their knowledge of rare earth materials and hydrogen technology giving them an unparalleled level of authority within the industry.
Last year, the University of Birmingham launched its first pilot plant to recycle HPMS materials. This was part of an effort to create large-scale ‘short loop’ recycling systems at sites such as Tyseley that will use the patent protected HPMS process. Therefore, there will be an ongoing source of NdFeB magnets and alloys for industries, including automotive and electronics. It’s expected that the facility will become operational in Britain by 2023, with Germany following shortly behind in 2024.
Rare Earth Recycling Benefits
Short loop magnet recycling is particularly beneficial to the environment, as only 88% of the energy required for primary mining and production of sintered magnets needs to be used.
Backed by Driving and Electric Revolution, a U.K. Research and Innovation fund, the state-of-art $5.3 million Tyseley facility is being built in partnership with University of Birmingham.
“The strategic, economic, and environmental importance of recycling rare earth metals is now widely recognized, and it has been pleasing to note the continuing growth of HyProMag’s partnership with Mkango since the company was established in 2018, using IP developed at the University of Birmingham. The acquisition of HyProMag, including its facility at Tyseley Energy Park, is the ultimate validation of the value they have identified in HyProMag’s unique capabilities,” stated Jerel Whittingham, Head of Enterprise Acceleration at the University of Birmingham Enterprise.
David Kennedy, Director of HyProMag, commented, “Building on the legacy of innovation in rare earth permanent magnets and hydrogen technologies pioneered by the late Prof. Rex Harris at the University of Birmingham, we founded HyProMag in 2018 with Rex as a founding shareholder. Our aim was to accelerate the commercialisation of the HPMS process, and our collaboration with Mkango has supported the company’s growth and enabled the participation in major collaborative projects on rare earth magnet recycling. We look forward to the next phase of growth at Tyseley Energy Park, scaling up the technology and showcasing rejuvenation of Birmingham’s industrial heritage, in parallel with the international roll-out.”
HyProMag’s leadership and staff are committed to collaborating with Mkango and Maginito to amplify and unleash its HPMS technology.
William Dawes, CEO of Mkango, concluded, “Since acquiring our initial interest in HyProMag in 2020, we have seen the company go from strength to strength, de-risking and further scaling-up the patented HPMS rare earth magnet recycling technology, building the team and developing further industry partnerships, all against the backdrop of growing interest in recycling and sustainable rare earth supply chains. We look forward to working closely with the HyProMag team as we continue to support the growth of the business.”
