Evolution Metals & Technologies Corp. (Nasdaq: EMAT) announced on October 28, 2026, that all 57 containers of ULVAC sintered magnet-production equipment have arrived at its expanded facility in Pohang, Republic of Korea. The company stated that commissioning of the equipment is scheduled to begin in November 2026.
The equipment delivery supports an expansion of annual rare earth magnet production capacity at the Pohang site from approximately 1,000 metric tons to approximately 10,000 metric tons. This includes an expected output of approximately 6,000 metric tons of high-performance sintered magnets. The company believes this makes it the largest producer of rare earth magnets globally outside of China.
On October 27, 2026, EM&T signed an investment framework with Pohang City. The local government is committed to supporting the expansion on a 1.27-million-square-foot site within Pohang’s Blue Valley National Industrial Complex. The company expects to receive approximately US$28 million in local government grant funding to support the expansion, subject to applicable conditions.
EM&T noted that the equipment was secured against industry lead times of two years or more, with orders placed in early 2025. The company stated that more than 50% of its input material requirements are already on site or under contract. It also reported that it has eight Tier-1 OEM-certified grades and 880 megawatts of power infrastructure in place.
The company anticipates expanded production will help address requirements under the Defense Federal Acquisition Regulation Supplement (DFARS) 252.225-7052, which extends supply chain restrictions for covered rare earth magnets beginning January 1, 2027. EM&T will host a ribbon-cutting ceremony and operational showcase at the Pohang facility on December 17, 2026.
