Latest news with #Umicore
Yahoo
02-07-2025
- Automotive
- Yahoo
Europe Automotive Circular Economy Market Outlook Report to 2034: EU Regulations and Digital Innovations Transform European Automotive Industry - A $100.25 Billion Market by 2034
The European automotive circular economy market, valued at $30.43 billion in 2024, is expected to reach $100.25 billion by 2034, growing at a CAGR of 12.66%. This growth is driven by a shift towards circular economy principles such as recycling, remanufacturing, and reusing, alongside regulatory pressure to cut emissions and boost sustainability. Key trends include digital innovations and the rise of electric vehicles, supported by the EU's Circular Economy Action Plan. Major companies like Umicore and BMW are key players. The market offers significant opportunities for innovation and strategic growth through partnerships and new product launches. European Automotive Circular Economy Market Dublin, July 01, 2025 (GLOBE NEWSWIRE) -- The "Europe Automotive Circular Economy Market: Focus on Application Type, Product Type, and Country - Analysis and Forecast, 2024-2034" report has been added to European automotive circular economy market was valued at $30.43 billion in 2024 and is projected to grow at a CAGR of 12.66%, reaching $100.25 billion by 2034. The market is expanding as a result of Europe's automotive industry's rapid transition to circular economy concepts, which include recycling, remanufacturing, and reusing components and materials. The need for fully recyclable, remanufactured, and refurbished car components is expected to increase as European manufacturers and regulators adopt more resource-efficient and sustainable growth is further supported by increased regulatory pressure to reduce carbon emissions, prolong vehicle lifespans, and optimise production processes. The automotive circular economy market on the continent is expected to grow significantly over the next ten years due to a number of factors, including the development of green technology, the rise in electric vehicles, and the European Union's ambitious circular economy action plan. Europe Automotive Circular Economy Market Trends, Drivers and Challenges Key Market Trends Expansion of closed-loop manufacturing and remanufacturing networks Integration of digital tracking (IoT, digital twins) for lifecycle monitoring Growth of vehicle-as-a-service and subscription models Second-life applications for EV batteries and parts Increased use of bio-based and recyclable materials Market Drivers Stringent EU regulations (Circular Economy Action Plan, End-of-Life Vehicle Directive) Corporate ESG commitments and sustainability targets Rising consumer demand for eco-friendly vehicles and components Cost savings from material recovery and reduced raw-material imports Advances in recycling technologies and automated sorting Market Challenges High capital expenditure for advanced recycling and remanufacturing facilities Supply-chain complexity and inconsistent standards across member states Limited market acceptance and pricing volatility for recycled materials Technical barriers in separating and processing composite and multi-material parts Need for skilled workforce and specialized reverse-logistics infrastructure Report Scope: Product/Innovation Strategy: The European automotive circular economy market is segmented based on various applications, vehicle types, propulsion types, and product categories, providing valuable insights into the industry's shift toward sustainability. The application segmentation includes a focus on vehicle components such as body parts, tires, batteries, and other key elements that are recycled, remanufactured, refurbished, and vehicle type, the market is divided into passenger vehicles and commercial vehicles, with the latter further segmented into light commercial vehicles, trucks, and buses. Propulsion types include internal combustion engine vehicles and electric vehicles, which are sub-categorized into hybrid electric vehicles, plug-in hybrid electric vehicles, and battery electric vehicles. The market is also analyzed by end-user type, including original equipment manufacturers (OEMs), the automotive aftermarket, and the market focuses on product types such as recycled, remanufactured, refurbished, and reused products. Key components in this circular economy include batteries, tires, polymers, body parts, and brakes and suspensions. As the automotive industry seeks to reduce waste and improve resource efficiency, these circular economy practices are becoming integral to achieving sustainability goals and driving growth in the Strategy: Europe's automotive circular economy market has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include product Strategy: The key players in the Europe automotive circular economy market analyzed and profiled in the study include professionals with expertise in the automobile and automotive domains. Additionally, a comprehensive competitive landscape such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the of the prominent names in this market are: Umicore ZF Friedrichshafen AG Valeo Renault Group BMW Group Aptiv Bosch GmbH Key Attributes: Report Attribute Details No. of Pages 96 Forecast Period 2024 - 2034 Estimated Market Value (USD) in 2024 $30.43 Billion Forecasted Market Value (USD) by 2034 $100.25 Billion Compound Annual Growth Rate 12.6% Regions Covered Europe Key Topics Covered:1 Markets1.1 Trends: Current and Future Impact Assessment1.1.1 Increasing Focus on Battery Recycling and Second Life Applications1.1.2 Growth of Vehicle Remanufacturing1.2 Supply Chain Overview1.3 Regulatory Landscape1.4 Impact Analysis for Key Global Events1.4.1 Implementation of Stringent Environmental Regulations1.4.2 Global Climate Agreements and ESG Initiatives1.5 Market Dynamics Overview1.5.1 Market Drivers1.5.1.1 Stringent Government Regulations and Policies1.5.1.2 Growing Corporate ESG and Sustainability Commitments1.5.2 Market Restraints1.5.2.1 Complex Supply Chains and Infrastructure Challenges1.5.2.2 Inconsistent Global Regulations1.5.3 Market Opportunities1.5.3.1 Growing EV adoption Creating Substantial Opportunities in Repurposing Batteries1.5.3.2 Expansion of Circular Supply Chains and Partnerships1.6 Investment Landscape1.7 Automotive Circular Economy Market Case Studies1.8 Automotive Circular Economy Overview1.8.1 Need for Circular Economy in the Automotive Industry1.8.2 Sustainability and ESG Goals of Key Automotive Companies1.8.3 Impact of Circular Economy on Various Automotive Lifecycle Stages1.8.4 Impact of Automotive Circular Economy1.8.4.1 Recycled Materials1.8.4.2 Green Steel1.8.4.3 Climate Neutral Vehicles1.8.4.4 Sustainable Manufacturing Plants1.8.4.5 Green Dealerships1.8.4.6 Second-Life Batteries2 Regions2.1 Regional Summary2.2 Europe2.2.1 Regional Overview2.2.2 Driving Factors for Market Growth2.2.3 Factors Challenging the Market2.2.4 Application2.2.5 Product2.2.6 Europe (by Country)2.2.6.1 U.K.2.2.6.2 Germany2.2.6.3 Italy2.2.6.4 France2.2.6.5 Spain2.2.6.6 Netherlands2.2.6.7 Rest-of-Europe3 Markets - Competitive Benchmarking and Company Profiles3.1 Next Frontiers3.2 Geographic Assessment3.3 Recycling Companies3.3.1 Umicore3.4 Remanufacturing3.4.1 ZF Friedrichshafen AG3.4.2 Valeo3.5 Integrated Circular Economy Solutions3.5.1 Renault Group3.5.2 BMW Group3.6 Technology Providers3.6.1 Aptiv.3.7 Parts and Components SuppliersFor more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment European Automotive Circular Economy Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
Reuters
30-06-2025
- Business
- Reuters
Umicore lifts profit forecast on stronger catalysis performance
June 30 (Reuters) - Belgian metal recycling group Umicore ( opens new tab on Monday raised its financial guidance for full year profit, citing a stronger performance from its catalysis business group. The company, which recycles metals and produces battery materials, now expects adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to come between 790 million euros ($929 million) and 840 million euros in 2025. The upgrade is based "on performance to date, assuming current metal prices, and barring major new upheavals in a context of persistent geopolitical tensions," Umicore said in a statement. Its previous annual forecast was in the range of 720 million to 780 million euros. Umicore said EBITDA in the first half of the year was expected to be somewhat above 420 million euros. Umicore will report its financial results for the first half of the year on August 1. ($1 = 0.8506 euros)
Yahoo
20-06-2025
- Automotive
- Yahoo
Lithium-ion Battery Recycling Market Investment Opportunities 2025-2030: EV Boom and Sustainable Energy Demand Drive Innovation
The global market is set to soar to USD 1.83 billion by 2030 with a CAGR of 44.80%. Explore regional dominance, growth insights, and strategic forecasts. Lithium-ion Battery Recycling Market Dublin, June 20, 2025 (GLOBE NEWSWIRE) -- "Lithium-ion Battery Recycling Market Size, Share & Trends Analysis Report by Application (Transportation, Consumer Electronics, Industrial), Region (North America, Asia-Pacific) with Growth Forecasts, 2025-2030" has been added to offering. The global Lithium-ion Battery Recycling Market is poised for remarkable expansion, projected to skyrocket from USD 198.37 million in 2024 to USD 1.83 billion by 2030, marking a substantial CAGR of 44.80%. This unprecedented growth is primarily fueled by the burgeoning demand for electric vehicles (EVs), consumer electronics, and renewable energy storage solutions. As the global community pivots towards greener energy alternatives, sustainable battery manufacturing and disposal practices have become imperative. The market presents myriad opportunities for businesses, investors, and environmental advocates. Companies like Li-Cycle Corp., Retrieve, and Umicore are at the forefront, pioneering efficient, cost-effective recycling processes to meet burgeoning demands. Strategic partnerships among battery manufacturers, EV producers, and recycling firms foster valuable collaborations along the value chain, ensuring responsible management from production to the end-of-life stages. For instance, Tesla's alliance with Redwood Materials in February 2023 focuses on enhancing recycling technologies for Tesla vehicle batteries. The market's momentum is driven significantly by the rapid electrification of the automotive sector. Major automakers' commitments to fleet electrification underscore the escalating demand for lithium-ion batteries, elevating the need for efficient recycling solutions to recover critical materials such as lithium, cobalt, and nickel. Lithium-ion Battery Recycling Market Report Highlights The transportation segment dominated the market with a 69.79% revenue share in 2024, driven by elevated environmental concerns and the surging demand for EVs. Asia-Pacific led the regional markets with a revenue share exceeding 43.01% in 2023, thanks to high EV demand, thriving consumer electronics markets, and increased environmental awareness. China emerged as a significant revenue contributor. The North American market is anticipated to witness substantial growth, propelled by the increasing demand for cleaner energy sources. This report addresses: Comprehensive market intelligence to facilitate effective decision-making. Market estimates and forecasts stretching from 2018 to 2030. Insightful growth opportunities and trend analyses. Segment and regional revenue forecasts for precise market assessment. Competitive strategies and market share analysis. Product innovation listings to keep you ahead of the curve. Why Should You Buy This Report? Comprehensive Market Analysis: Attain detailed insights into market dynamics across key regions and segments. Competitive Landscape: Explore the presence and strategies of leading industry players. Future Trends: Unveil pivotal trends and drivers earmarking the market's future landscape. Actionable Recommendations: Leverage insights to identify new revenue streams and guide strategic business initiatives. Key Attributes Report Attribute Details No. of Pages 90 Forecast Period 2024-2030 Estimated Market Value (USD) in 2024 $198.37 Million Forecasted Market Value (USD) by 2030 $1.83 Billion Compound Annual Growth Rate 44.8% Regions Covered Global Table of Contents Chapter 1. Methodology and Scope1.1. Market Segmentation & Scope1.2. Market Definition1.3. Information Procurement1.4. Information Analysis1.5. Market Formulation & Data Visualization1.6. Data Validation & Publishing Chapter 2. Executive Summary2.1. Market Snapshot2.2. Segment Snapshot2.3. Competitive Landscape Snapshot Chapter 3. Lithium-ion Battery Recycling Market Variables, Trends & Scope3.1. Market Lineage Outlook3.2. Industry Value Chain Analysis3.3. Regulatory Framework, by Regions3.4. Market Dynamics3.5. Industry Analysis Tools Chapter 4. Lithium-ion Battery Recycling Market: Application Estimates & Trend Analysis4.1. Application Movement Analysis & Market Share4.2. Market Estimates & Forecast, by Application4.2.1. Transportation4.2.2. Consumer Electronics4.2.3. Industrial Chapter 5. Lithium-ion Battery Recycling Market: Regional Estimates & Trend Analysis5.1. Regional Movement Analysis & Market Share5.2. North America5.3. Europe5.4. Asia-Pacific5.5. Central & South America5.6. Middle East & Africa Chapter 6. Lithium-ion Battery Recycling Market - Competitive Landscape6.1. Recent Developments & Impact Analysis, by Key Market Participants6.2. Company Categorization6.3. Company Market Position Analysis6.4. Company Heat Map Analysis6.5. Strategy Mapping6.6. Company Profiles The major companies featured in this Lithium-ion Battery Recycling market report include: Contemporary Amperex Technology Co., Limited LG Energy Solution Panasonic Corporation SAMSUNG SDI CO., LTD. BYD SVOLT Energy Tesla Shenzhen Manly Battery Co. TOSHIBA CORPORATION SK on Co., Ltd. CALB Gotion, Inc. Sunwoda Electronic Co., Ltd. Li-Cycle Corp. Helbiz For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Lithium-ion Battery Recycling Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Gulf Today
19-06-2025
- Business
- Gulf Today
Oklahoma aspires to become hub for mineral refining
Nestled beneath Oklahoma's Wichita Mountains sits a two-story warehouse containing the only machine in the United States capable of refining nickel, a crucial energy transition metal now dominated by China. The facility, owned by startup Westwin Elements, aims to help Oklahoma become the epicentre for US critical minerals processing, a sector the country largely abandoned decades ago. The state will have to overcome several obstacles to get there, including a lack of major critical mineral deposits, a weak education system and its location at the centre of the United States — far from international shipping lanes. Yet Oklahoma's push into minerals processing marks an unexpected twist in the country's efforts to wean itself off Chinese rivals who have blocked exports. President Donald Trump has said he wants to boost US production of minerals used across the economy. In Oklahoma, the country's only nickel refinery, its largest lithium refinery, two lithium-ion battery recycling plants, a rare earths magnet facility, and several electronic waste collection facilities are under construction or in operation — more than in any other state. They join a Umicore site that produces germanium crystals for solar panels. An aluminum smelter — the country's first since 1980 — is set to break ground next year at a site bordering an Arkansas River tributary. "I've strategically made a conscious effort to go after some of these new industries that I think are going to be critical," Governor Kevin Stitt, a Republican, told Reuters. "There's money flying into critical minerals from the investment side, so it might as well be located in Oklahoma." Investors and corporate executives say the state's location, lack of mineral deposits, and other detracting factors are outweighed by a string of positives: Oklahoma has railways and highways bisecting the state en route to the three US coasts, a workforce with deep energy experience, state rebates and other financial incentives, a large inland port with access to the Mississippi River watershed, and accommodating regulators. Officials boast on social media that Oklahoma is a "one phone call state," a description meant to evoke what they see as a streamlined regulatory process. Australia-based MLB Industrial, a startup that supplies lithium-ion batteries to the locomotive industry, expanded its business to Oklahoma earlier this year for that very reason. "Other states were looking for a large, established company to invest, rather than a company with a growth profile," said Nathan Leech, MLB's CEO, who moved his family to Oklahoma. "We intend to grow in Oklahoma." A nickel refinery, in particular, has been sought by Washington for years but Chinese market dumping had scared away would-be entrants, said a source familiar with the Trump administration's minerals policy. KaLeigh Long founded Westwin and named it after her desire for the US to shake off Chinese minerals dependence — as she puts it, "The West will win." The firm has built a demonstration facility 85 miles (137 km) south of the state capital that it says can refine 200 metric tons of nickel annually and will expand to produce 34,000 metric tons per year by 2030. If successful, the Westwin facility would refine 10% of America's annual nickel needs, demand projections from Benchmark Mineral Intelligence show, drawing on rock taken from Turkish and Indonesian mines, as well as recycled US batteries. Even as Oklahoma promises state tax rebates and other incentives, Westwin is lobbying Washington not to eliminate a federal production tax credit heavily opposed by Republicans along with other green energy subsidies enacted by former President Joe Biden, as Reuters reported earlier this month. Westwin is in negotiations with the Pentagon for a nickel supply deal that would keep metal inside the United States to make batteries for military drones and other equipment, according to a source familiar with the deliberations. Roughly 220 miles (354 km) northeast, a lithium refinery under construction from Stardust Power aims to produce 50,000 metric tons of the battery metal per year, about a fifth of what the US is expected to need by 2030. Japan's Sumitomo signed a preliminary agreement in February to buy up to half of the facility's output. Stardust aims for the plant to filter lithium from brines — something that has yet to happen at commercial scale — and will have roughly the same capacity as Tesla's refinery under construction in Texas. It will be powered in part by renewable energy; nearly half of the state's electricity is generated by wind turbines. "That was a huge draw," said Roshan Pujari, Stardust's CEO. The company is pushing forward even after rival Albemarle paused plans to build a large US refinery, citing weak lithium prices. "During these down cycles is the best time to be developing, because why do we want prices to be high when we have nothing to sell?" Pujari said. USA Rare Earth, which went public earlier this year, chose Oklahoma over Texas for its rare earths magnet facility given what it felt was the personalized support from Stitt and other officials, said CEO Josh Ballard. Magnets made from rare earths turn electricity into motion for EVs; the US stopped making them in the 1990s. Ballard says the facility is slated to open early next year and initially produce 1,200 metric tons annually, enough magnets to build more than 400,000 EVs. That supply is already highly sought after in the United States since China placed export restrictions on rare earths in April. Ballard said he has been fielding "a lot of phone calls" since April from prospective customers. The company on Tuesday signed a preliminary supply agreement with Moog for magnets used in AI data centers. "We can do this quickly. It's just a matter of how do we do it, and can the government help be a catalyst?" said Ballard. The company could get a boost from legislation introduced earlier this month by three U.S. senators - including Oklahoma's Markwayne Mullin - that would provide a tax credit for roughly 30% of the cost to manufacture a magnet made from rare earths. Elsewhere, two Oklahoma battery processing facilities - from Green Li-ion and Blue Whale Materials - will break down lithium-ion batteries into copper and other building blocks for new batteries. Natural Evolution, in Tulsa, is spearheading a push to expand electronic waste recycling. Green Li-ion, which has a recycling facility in Atoka - Country music star Reba McEntire's hometown - has held talks with Glencore as well as Westwin about buying a recycled version of battery scrap known as MHP, or mixed hydroxide precipitate, that can be used to make nickel products, according to two sources familiar with the negotiations. Glencore declined to comment. Most of the country's recycled batteries are exported now to China in the form of black mass, essentially shredded battery parts. Green Li-ion, which is headquartered in Singapore, moved its US operations to Oklahoma given the state's history with oil and gas extraction, skills it sees as complementary to black mass processing. "This state has a lot of chemical engineers," said Kevin Hobbie, the company's senior vice president of operations. Oklahoma's foray into the energy transition hasn't been all smooth sailing. Tesla supplier Panasonic in 2022 chose Kansas over Oklahoma for a battery plant after the Sunflower State wooed it with $1 billion in incentives. In January, EV startup Canoo filed for bankruptcy despite a $1 million state grant and Stitt's commitment for his administration to buy 1,000 of the company's vehicles. Canoo, which had several production facilities in Oklahoma, blamed uncertain demand for its cargo vans. State officials say they are trying to recoup the funds. Stitt said he is not bothered by the bankruptcy. "We're going to keep swinging for the fences," he said. Ernest Scheyder, Reuters
Yahoo
18-06-2025
- Business
- Yahoo
Rural Oklahoma strives to become American hub for critical minerals processing
By Ernest Scheyder LAWTON, Oklahoma (Reuters) -Nestled beneath Oklahoma's Wichita Mountains sits a two-story warehouse containing the only machine in the United States capable of refining nickel, a crucial energy transition metal now dominated by China. The facility, owned by startup Westwin Elements, aims to help Oklahoma become the epicenter for U.S. critical minerals processing, a sector the country largely abandoned decades ago. The state will have to overcome several obstacles to get there, including a lack of major critical mineral deposits, a weak education system and its location at the center of the United States - far from international shipping lanes. Yet Oklahoma's push into minerals processing marks an unexpected twist in the country's efforts to wean itself off Chinese rivals who have blocked exports. President Donald Trump has said he wants to boost U.S. production of minerals used across the economy. In Oklahoma, the country's only nickel refinery, its largest lithium refinery, two lithium-ion battery recycling plants, a rare earths magnet facility, and several electronic waste collection facilities are under construction or in operation - more than in any other state. They join a Umicore site that produces germanium crystals for solar panels. An aluminum smelter - the country's first since 1980 - is set to break ground next year at a site bordering an Arkansas River tributary. "I've strategically made a conscious effort to go after some of these new industries that I think are going to be critical," Governor Kevin Stitt, a Republican, told Reuters. "There's money flying into critical minerals from the investment side, so it might as well be located in Oklahoma." Investors and corporate executives say the state's location, lack of mineral deposits, and other detracting factors are outweighed by a string of positives: Oklahoma has railways and highways bisecting the state en route to the three U.S. coasts, a workforce with deep energy experience, state rebates and other financial incentives, a large inland port with access to the Mississippi River watershed, and accommodating regulators. Officials boast on social media that Oklahoma is a "one phone call state," a description meant to evoke what they see as a streamlined regulatory process. Australia-based MLB Industrial, a startup that supplies lithium-ion batteries to the locomotive industry, expanded its business to Oklahoma earlier this year for that very reason. "Other states were looking for a large, established company to invest, rather than a company with a growth profile," said Nathan Leech, MLB's CEO, who moved his family to Oklahoma. "We intend to grow in Oklahoma." A nickel refinery, in particular, has been sought by Washington for years but Chinese market dumping had scared away would-be entrants, said a source familiar with the Trump administration's minerals policy. KaLeigh Long founded Westwin and named it after her desire for the U.S. to shake off Chinese minerals dependence - as she puts it, "The West will win." The firm has built a demonstration facility 85 miles (137 km) south of the state capital that it says can refine 200 metric tons of nickel annually and will expand to produce 34,000 metric tons per year by 2030. If successful, the Westwin facility would refine 10% of America's annual nickel needs, demand projections from Benchmark Mineral Intelligence show, drawing on rock taken from Turkish and Indonesian mines, as well as recycled U.S. batteries. Even as Oklahoma promises state tax rebates and other incentives, Westwin is lobbying Washington not to eliminate a federal production tax credit heavily opposed by Republicans along with other green energy subsidies enacted by former President Joe Biden, as Reuters reported earlier this month. Westwin is in negotiations with the Pentagon for a nickel supply deal that would keep metal inside the United States to make batteries for military drones and other equipment, according to a source familiar with the deliberations. SUSTAINABLE POWER Roughly 220 miles (354 km) northeast, a lithium refinery under construction from Stardust Power aims to produce 50,000 metric tons of the battery metal per year, about a fifth of what the U.S. is expected to need by 2030. Japan's Sumitomo signed a preliminary agreement in February to buy up to half of the facility's output. Stardust aims for the plant to filter lithium from brines - something that has yet to happen at commercial scale - and will have roughly the same capacity as Tesla's refinery under construction in Texas. It will be powered in part by renewable energy; nearly half of the state's electricity is generated by wind turbines. "That was a huge draw," said Roshan Pujari, Stardust's CEO. The company is pushing forward even after rival Albemarle paused plans to build a large U.S. refinery, citing weak lithium prices. "During these down cycles is the best time to be developing, because why do we want prices to be high when we have nothing to sell?" Pujari said. USA Rare Earth, which went public earlier this year, chose Oklahoma over Texas for its rare earths magnet facility given what it felt was the personalized support from Stitt and other officials, said CEO Josh Ballard. Magnets made from rare earths turn electricity into motion for EVs; the U.S. stopped making them in the 1990s. Ballard says the facility is slated to open early next year and initially produce 1,200 metric tons annually, enough magnets to build more than 400,000 EVs. That supply is already highly sought after in the United States since China placed export restrictions on rare earths in April. Ballard said he has been fielding "a lot of phone calls" since April from prospective customers. The company on Tuesday signed a preliminary supply agreement with Moog for magnets used in AI data centers. "We can do this quickly. It's just a matter of how do we do it, and can the government help be a catalyst?" said Ballard. The company could get a boost from legislation introduced earlier this month by three U.S. senators - including Oklahoma's Markwayne Mullin - that would provide a tax credit for roughly 30% of the cost to manufacture a magnet made from rare earths. Elsewhere, two Oklahoma battery processing facilities - from Green Li-ion and Blue Whale Materials - will break down lithium-ion batteries into copper and other building blocks for new batteries. Natural Evolution, in Tulsa, is spearheading a push to expand electronic waste recycling. Green Li-ion, which has a recycling facility in Atoka - Country music star Reba McEntire's hometown - has held talks with Glencore as well as Westwin about buying a recycled version of battery scrap known as MHP, or mixed hydroxide precipitate, that can be used to make nickel products, according to two sources familiar with the negotiations. Glencore declined to comment. Most of the country's recycled batteries are exported now to China in the form of black mass, essentially shredded battery parts. Green Li-ion, which is headquartered in Singapore, moved its U.S. operations to Oklahoma given the state's history with oil and gas extraction, skills it sees as complementary to black mass processing. "This state has a lot of chemical engineers," said Kevin Hobbie, the company's senior vice president of operations. 'SWINGING FOR THE FENCES' Oklahoma's foray into the energy transition hasn't been all smooth sailing. Tesla supplier Panasonic in 2022 chose Kansas over Oklahoma for a battery plant after the Sunflower State wooed it with $1 billion in incentives. In January, EV startup Canoo filed for bankruptcy despite a $1 million state grant and Stitt's commitment for his administration to buy 1,000 of the company's vehicles. Canoo, which had several production facilities in Oklahoma, blamed uncertain demand for its cargo vans. State officials say they are trying to recoup the funds. Stitt said he is not bothered by the bankruptcy. "We're going to keep swinging for the fences," he said. The state's education system has also generated negative headlines, due in part to a battle over low standards that could make it difficult to convince high-tech talent and their families to relocate to Oklahoma. The state's pre-kindergarten through twelfth grade educational system, for instance, is ranked 48th out of the 50 U.S. states by U.S. News and World Report, and many schools have moved to a four-day week to save money. Alphabet's Google, which built an Oklahoma data center in 2011, donated funds to the local school district in part to attract faculty. Oklahoma's superintendent of schools is an elected position over which Stitt has no control. The governor successfully pushed for a school voucher system that he said should attract more families. "If I create competition, and now a public school has to compete for a student, it's going to make all boats rise and bring more talent to Oklahoma," Stitt said. The governor said he is focused on helping the minerals refiners in his state grow and is lobbying Trump to require federal contractors to increase the percentage of minerals they buy that are processed in the country. That's a key desire also for Long, the Westwin founder, who spent her youth herding cattle, an experience she said inspired her interest in refining and a reticence for mining. "After seeing the beef and meat industry, I learned that the packer is the one that seems to take the least amount of risk and yet makes the most amount of money," she said. "When I saw mining, I was like, 'The miner is the rancher and the refiner is the packer.' So I decided I want to be the packer."
