United Rare Earths has licensed two innovative technologies from Oak Ridge National Laboratory aimed at reducing dependence on critical rare earth elements. These technologies support the creation of high-performance magnets engineered to use significantly less rare earth content.
Rare earth elements, or REEs, are crucial for manufacturing permanent magnets, which are essential components in advanced technologies and fighter jets. REEs are extracted from small amounts of minerals in the Earth's crust, then processed and refined.
"Our goal was to make magnets as strong as conventional magnets but with less of these critical elements," said ORNL's David Parker. The ORNL team lead by Parker developed this innovation in partnership with DOE's Critical Materials Innovation Hub.
"Critical minerals are indispensable to national security. Together with ORNL, we are working to secure the future of U.S. energy independence and technological leadership," said Jeffrey Willis, United Rare Earths chairman.
