ACCESS Newswire·Nov 9, 2026, 7:01 AM ET

CoTec Holdings Corp. Notes HyProMag USA Advances North Texas Rare Earth Magnet Facility With First Major Equipment Delivery

CoTec Holdings Corp. announced that HyProMag USA LLC delivered the first major process equipment to its Northlake Texas Facility on November 9, 2026.
HyProMag USA secured a long-term lease for the facility at Ironhead Commerce Center in Denton County, Texas, in December 2025.
The facility is strategically located near critical infrastructure, including the BNSF intermodal rail link & Alliance Airport.
Electrical power capacity has been secured through Oncor Electric Delivery Company LLC, while permitting is progressing with Weston Solutions, Inc.
Initial magnet cutting & finishing operations are targeted for the first half of 2027.
Commissioning of Phase 1 integrated recycling & manufacturing operations is scheduled for mid-2028.
The Northlake Texas Facility targets approximately 1,526 metric tons of annual total payable production upon completion of Phase 2.
The project is expected to create approximately 100 direct jobs.
An Expansion Pre-Feasibility Study announced on October 27, 2026, projects production of approximately 4,192 metric tons of NdFeB magnets & 6,000 metric tons of total salable materials by 2034 across four plants.
HyProMag USA utilizes Hydrogen Processing of Magnet Scrap (HPMS) technology, which uses 88% less energy & reduces carbon emissions by 85% compared to conventional methods.
HyProMag USA LLC is owned 50:50 by CoTec Holdings Corp. & HyProMag Limited.