Unlocking Rare Opportunities
What are Rare Earths?
Ionic Technologies is using technology to produce high-purity rare earth oxides (99.9%+). Rare earths are critical to the future of the net zero energy transition. Despite their name, many rare earths are relatively abundant in the Earth’s crust, but unfortunately they are very difficult and expensive to extract and process. Growing demand for these elements is driven by the ever increasing investment in wind energy and electric vehicles.
That’s where we come in. We set the standard for responsible product management. Our patented process enables the extraction of rare earths that are already present in end of life magnets. We are making strides towards powering a sustainable future by recycling secure, sustainable and traceable magnet rare earth oxides.
Use in Wind Turbines
Wind energy investment continues to grow rapidly worldwide. Europe has set a wind power generation target of 36% by 2050, more than 10 times that of 3.5% in 2015. Rare earths are vital to a fully functioning wind turbine. Permanent magnets are used within the turbine generator and for attaching internal fixtures within the turbine tower.
To meet demand, specific rare earth elements (Dy, Nd, Pr and Tb) – all of which we produce – could experience demand increase from 6 to 40-fold by 2050.
Use in Electric Vehicles
Electric vehicles require a wide array of Rare earths. There are three main types of electric vehicles traction motors in commercial use, each using permanent magnet synchronous motors (93% of electric vehicles use permanent magnet synchronous motors).
Rare earths only follow lithium and cobalt when it comes to incremental commodity demand for electric vehicles.