HyProMag USA Expands Feedstock Supply Agreement With Global Electronics Recycler, Intelligent Lifecycle Solutions

Executive Summary

• HyProMag USA, CoTec’s U.S. joint‑venture, has extended its feedstock supply agreement with Intelligent Lifecycle Solutions (ILS).
• ILS will broaden the types of NdFeB feedstock supplied—including HDDs, electric motor rotors, wind turbine magnets, speaker assemblies and MRI components—and is targeting delivery of a new “3rd generation” HDD magnet separation system by Dec 2025.
• The extension supports HyProMag USA’s plan to commission its advanced‑stage rare earth magnet recycling plant in Fort Worth, Texas, and underpins CoTec’s strategic push into U.S. critical‑materials recycling.

Key Details

• Agreement Extension: ILS continues as the primary supplier of NdFeB feedstock for HyProMag USA; the existing agreement has been formally extended (terms not disclosed).
• Expanded Feedstock Sources: In addition to hard‑disk‑drive (HDD) magnets, ILS will begin procuring bulk NdFeB from:
• Electric motor rotors
• Wind turbine generators
• Speaker assemblies
• MRI machines
• Technical Procurement Team: ILS and HyProMag USA have created a joint “Technical Procurement” team to accelerate purchases and onboard the Inserma “3rd generation” HDD magnet separation system.
• Equipment Delivery Timeline: The Inserma separation system is slated for delivery to ILS pre‑processing sites (Williston, SC and Reno, NV) by the end of December 2025.
• Pilot Testing Success: Multiple NdFeB feedstocks have successfully passed accelerated piloting at the University of Birmingham’s HPMS pilot facility, confirming process viability.
• Strategic Impact: The extended supply agreement and broadened feedstock base are intended to secure long‑term raw material inputs for HyProMag USA’s upcoming recycling plant, enhancing CoTec’s U.S. strategic materials portfolio.

Notable Quotes

• Julian Treger, Chief Executive of CoTec: “The ILS Supply Agreement continues to progress; multiple NdFeB feedstocks have been successfully tested…HyProMag USA is continuing to build long‑term partnerships and work closely with commercial suppliers, federal and state governments…”
• Graham Davy, CEO of ILS: “ILS is excited to expand its procurement efforts to other NdFeB sources in partnership with HyProMag USA…We look forward to working collaboratively…to facilitate the growth of rare earth material recycling using HyProMag’s innovative magnet recycling technology in the U.S.”