MP Materials receives $58.5M tax credit for building America's first integrated rare earth magnet facility in Fort Worth, TX, to meet growing global demand for NdFeB magnets.
MP Materials receives $58.5 million tax credit for building America's first integrated rare earth magnet manufacturing facility. The company will use the funds to advance construction in Fort Worth, TX, aimed at meeting growing global demand for neodymium-iron-boron (NdFeB) magnets, crucial components in electric vehicles, wind turbines, drones, and defense systems. The demand is projected to triple by 2035.
April 01, 2024
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