V

Vulcan Elements

Defence · Durham, United States · Founded 2023

Vulcan Elements is a U.S.-based manufacturer of high-performance rare-earth permanent magnets, focused on building a secure and sustainable domestic supply chain for critical magnetics. The company’s core product is sintered neodymium-iron-boron (NdFeB) magnets, which are essential for a wide range of applications across electric vehicles, defence systems, aerospace, industrial automation, consumer electronics, and clean energy technologies such as wind turbines. These magnets enable high-efficiency electric motors and are a critical input in global electrification efforts and next-generation military technologies. Founded in 2023, Vulcan Elements operates a pilot manufacturing and research facility in Durham, North Carolina, within the Research Triangle Park region. The 21,000-square-foot site, commissioned in 2025, is designed to support both R&D and small-scale production, enabling the company to iterate quickly on materials science, production processes, and scale-up strategies. The facility is fully equipped to bridge laboratory-scale experiments and commercial readiness, forming the backbone of Vulcan’s ambitions to expand into full-scale manufacturing within the U.S. market. What sets Vulcan apart is its commitment to a fully Western-aligned supply chain. All materials, machinery, and inputs are sourced from the United States or allied nations. This approach not only addresses national security concerns around dependence on China for rare-earth magnetics but also ensures complete traceability and compliance with strategic procurement policies. The company aims to help reindustrialise the U.S. magnetics sector while maintaining transparency and high environmental and operational standards. Vulcan has attracted attention from both public and private sectors. It has signed supply contracts with the U.S. Navy, Air Force, and Army, making it one of the few American companies with active rare-earth magnet deployments in national defence platforms. In August 2025, Vulcan raised a $65 million Series A funding round led by Altimeter Capital, with participation from One Investment Management and other investors. The company is also supported by venture firms including The MBA Fund, Dorm Room Fund, and Xfund, reflecting a strong ecosystem of early-stage backers committed to reshoring industrial capacity. The company’s longer-term roadmap includes expanding production capacity from pilot-scale to hundreds and eventually thousands of metric tonnes of magnets per year. This would position Vulcan to supply not just defence contractors but also electric vehicle manufacturers, wind turbine OEMs, and industrial motor suppliers. Its mission aligns with broader national priorities around climate resilience, energy transition, and technological sovereignty. Vulcan Elements represents a convergence of advanced materials engineering, industrial strategy, and sustainability goals. By anchoring rare-earth magnet production on U.S. soil, the company seeks to reduce geopolitical dependency, strengthen clean energy supply chains, and enable key sectors of the modern economy. Keywords: rare-earth magnets, NdFeB, magnet manufacturing, electric vehicles, wind turbines, defence, aerospace, clean energy, US supply chain, hardware, manufacturing, industrial automation, energy transition, advanced materials, sustainable production, magnetics, reindustrialisation, strategic materials, deep tech