Mkango's HyProMag USA Secures Feedstock Supply Deal with Global Recycler ILS
Why we think this is good
The agreement with ILS to secure NdFeB feedstock for HyProMag USA's recycling and manufacturing hub is a positive development. It provides a direct revenue opportunity, reduces funding risk, and supports the company's entry into the U.S. market. While the financial details are not disclosed, the partnership with a global recycler and the potential for further supply agreements suggest a favorable outlook.
Key Points
- HyProMag USA and ILS enter feedstock supply and pre-processing site share agreement
- ILS to secure and store NdFeB feedstock from hard disk drives and other sources for HyProMag USA's recycling and manufacturing plant in Dallas-Fort Worth
- Agreement expected to be the first of several supply agreements as HyProMag USA advances its project
- Collaboration builds on existing relationship between ILS, HyProMag, and University of Birmingham
Summary
Mkango's HyProMag USA has entered into a feedstock supply and pre-processing site share agreement with global electronics recycler Intelligent Lifecycle Solutions (ILS). The agreement secures NdFeB feedstock from hard disk drives and other sources for HyProMag USA's advanced stage rare earth magnet recycling and manufacturing plant in Dallas-Fort Worth, Texas. ILS will utilize its pre-processing sites in South Carolina and Nevada to source and store the feedstock, which will then be supplied to HyProMag USA. The collaboration builds on the existing relationship between ILS, HyProMag, and the University of Birmingham. The agreement is expected to be the first of several supply agreements as HyProMag USA advances its project.