Evolution Metals & Technologies Corp. (EM&T) issued a press release on October 14, 2026, reaffirming its fiscal 2027 revenue guidance of $400 million to $460 million. The company reported that its portfolio of eight sintered neodymium-iron-boron (NdFeB) rare earth magnet grades represents an estimated 75% of global sintered NdFeB magnet revenue and approximately 52% of global volume. Seven of the eight grades have completed customer certification, with the N42SH grade being the largest in the global market at an estimated 23% of revenue.
The company also announced plans to begin acquiring equipment to produce samarium cobalt (SmCo) magnets by mid-2027. SmCo magnets are utilized across U.S. military systems. This move follows the extension of DFARS 252.225-7052 restrictions to SmCo magnets on January 1, 2027, and the continued export licensing controls on samarium by China since April 2025.
Regarding operations in Pohang, South Korea, EM&T stated that the first 13 of 57 containers of ULVAC equipment have arrived. The company expects the expansion to lift annual capacity to more than 10,000 metric tons. Additionally, EM&T confirmed it will respond to the U.S. Army’s sources sought notice for rare earth magnets, which was issued on September 28, 2026.
