President von der Leyen presents Neo's Made-in-Europe Permanent Magnet to G7 Leaders' Summit
President von der Leyen in a statement from the G7 2025:
"I brought with me a permanent magnet. Not just any magnet—this is a rare earth permanent magnet. It was manufactured in Estonia, by a Canadian company using raw materials sourced from Australia, and supported by the EU's Just Transition Fund… And where does it end up? In German and French electric vehicles and wind turbines. This small object tells a much bigger story—a story we are writing together."
Neo's President & CEO, Rahim Suleman, said:
" We thank President von der Leyen for highlighting our Made-in-Europe magnet at the G7 Summit. Our new magnet facility marks a significant milestone for both Neo Performance Materials and the European automotive supply chain. Delivering this facility on time and on budget demonstrates that focus, innovation, and industry collaboration are essential to overcoming today's supply chain challenges."
Neo's new Estonia facility marks substantial progress in the global expansion of its magnetics operations. Phase 1 successfully implemented a multi-step production process—from raw materials to the final assembly of traction motor magnets. Phases 2, 3 and 4 are expected to drive further growth, with expanded operations in Estonia and new facilities planned in additional regions. These developments reflect Neo's technical expertise and operational capacity, supported by its experienced global team.
Backed by over 30 years of expertise in rare earth magnetics and advanced R&D capabilities, Neo's new facility in Estonia represents a significant step in one of the key permanent magnet projects in Europe and globally. This initiative aims to scale magnet production across Europe and beyond, contributing to Neo's efforts to serve our customers with diversified supply chains for rare earth magnetics and other critical materials.
About Neo Performance Materials
Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo's advanced industrial materials – magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies. Neo's products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals. Neo is headquartered in Toronto, Ontario, Canada; with corporate offices in Greenwood Village, Colorado, United States; Singapore; and Beijing, China. Neo has a global platform that includes manufacturing facilities in Canada, China, Estonia, Germany, Thailand and the United Kingdom, as well as a dedicated research and development centre in Singapore.
For more information, please visit www.neomaterials.com.
Cautionary Statements Regarding Forward Looking Statements
This news release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Specific forward-looking statements in this news release include, but are not limited to, the completion of construction and commissioning and launch of operations of the facility in Narva; integration of operations of the new facility in Narva, Estonia and Neo's rare earth separation facility in Sillamäe, Estonia; and other matters relating thereto. In making the forward-looking information in this news release, the Company has applied certain factors and assumptions that are based on its current beliefs as well as assumptions made by and information currently available to the Company. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. There are many risk factors associated with the negotiation and drafting of a definitive offtake agreement and the terms and conditions of such agreement. A number of factors could cause actual results to differ materially from those anticipated by the Company, including but not limited to the risks and uncertainties inherent in the nature of the Transaction, including the risks of a material adverse change to the Company's assets or revenues, or risks of unknown liabilities that may arise.
Readers are cautioned not to place undue reliance on forward looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law. For more information on Neo, investors should review Neo's continuous disclosure filings that are available under Neo's profile at www.sedarplus.ca.
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