0
0
FLORIDA, 11 August 2023: USA Rare Earth, a leading magnet technology company, has forged a strategic alliance with global engineering firm Hatch. This collaboration underscores a significant step towards the US’s self-reliance in magnet production, catering to the escalating demand for rare earth magnets driven by green technologies.
USA Rare Earth & Hatch Join Forces
In a groundbreaking move, USA Rare Earth, LLC (USARE), has entered a strategic partnership with Hatch, a renowned international engineering and project management company. Hatch assumes a pivotal role as the primary engineering, procurement, and construction management (EPCM) entity for USARE. This collaboration also involves latter’s investment in USARE, signifying their mutual commitment.
Revolutionizing Magnet Production in the USA
USARE is in the process of revitalizing a sintered magnet production facility in Stillwater, Oklahoma, and an extraction and separation facility in Sierra Blanca, Texas. This transformation aims to establish the USA as a pioneer in the mine-to-magnet production, addressing the surging demand for rare earth magnets. These magnets are integral to various sectors, including electric vehicles, wind energy, medical devices, smartphones, and aerospace/defense applications.
Hatch’s Expertise in Rare Earth Value Chain
Hatch, globally renowned for its expertise in mineral extraction and processing, offers a comprehensive spectrum of solutions across the rare earths value chain. This spectrum encompasses raw material mining and processing, engineering, procurement, construction management, and the production of rare earth metal alloys and magnets.
Unified Vision for Sustainable Transformation
Tom Schneberger, CEO of USA Rare Earth, expresses the pivotal role Hatch plays in constructing and engineering their rare earth magnet endeavors. Latter’s investment further cements their commitment to USARE’s mission of establishing a vertically integrated rare earth magnet facility within the country. This alignment is instrumental in achieving the vision of a stable and secure rare earth supply chain within the USA.
Pioneering Towards Greener Future
John Bianchini, CEO of Hatch, emphasizes the collective drive towards a cleaner and greener energy landscape. As the global demand for rare earth elements intensifies, these materials hold the key to propelling sustainable technologies. The partnership with USA Rare Earth enables Hatch to contribute to establishing a robust domestic rare earth supply chain, catalyzing the global transition towards eco-friendly solutions.
Conclusion
The strategic partnership between USA Rare Earth and Hatch signifies a monumental leap towards securing the USA’s position in the rare earth magnet industry. As both companies unite their expertise and resources, they are poised to drive positive change by accelerating the global shift to green technologies. This collaboration is not only a significant business endeavor but also a critical step towards a sustainable and resilient future.
