Geomega receives $2.04M in funding from NGen for recycling plant
by CM Staff
The collaborative project will see magnet scrap supplied to Geomega to be recycled using its technology in the demonstration plant.
MONTREL — Geomega Resources Inc., a developer of clean technologies for the mining, refining, and recycling of rare earths and other critical materials, announces that it has obtained $2.04 million funding from Next Generation Manufacturing Canada (NGen) for the construction of Geomega’s rare earths recycling demonstration plant in St-Hubert, Quebec. The funding is part of a total envelope of $2.96 million awarded to Geomega and a private Quebec based R&D company to perform the project titled “Recycling and Production of Rare-Earth Oxides from Permanent Magnet Scrap”.
The collaborative project will see magnet scrap supplied to Geomega to be recycled using its technology in the demonstration plant. The resulting rare earth oxides will then be used to produce rare earth metals by the project partner. The project is funded by NGen within its Advanced Manufacturing Projects program that aims at de-risking, commercializing, and scaling-up innovative manufacturing capabilities in Canada. A successful project will strengthen the competitiveness of Canada’s manufacturing sector, drive more innovation and investment in advanced manufacturing technologies in Canada, generate new commercial opportunities for Canadian companies in global markets, and develop a modern and inclusive workforce with the skills to excel in advanced manufacturing.
“We are excited to work with NGen on our rare earths recycling demonstration plant. We believe that recycling will play an important role in closing the loop within the rare earths and magnets supply chain and provide a local recycling solution for end-of-life magnets and a sustainable supply of rare earths for the developing metal and magnet industries. The construction of the demonstration plant in 2024 will be a major development milestone for Geomega and our innovative technology and we look forward to continue working with all our stakeholders in making it a reality,” commented Kiril Mugerman, President & CEO of Geomega.
