Northern Irish start-up Ionic Technologies has received UK government support to scale up production of the rare earth metals needed to manufacture renewable energy technologies.
Lord Dominic Johnson, the UK’s Investment Minister, currently in Belfast for the Northern Ireland Investment Summit, congratulated Ionic Technologies’ two successful entries for the funding competition as part of Innovate UK’s ambitious CLIMATES programme, while officially opening the company’s Belfast demonstration plant.
The £15m first phase allocation is earmarked for research dedicated to strengthening domestic supply chains of critical materials to drive the UK’s net-zero transition and green transport revolution.
The company said the investment will propel Ionic Technologies on its journey to becoming one of the UK’s foremost innovators in magnet recycling and domestic producers of 100% recycled rare earth oxides.
Acquired in 2022 by Australian multinational Ionic Rare Earths Limited, the company; a Queen’s University Belfast spinout, has bold ambitions to scale up production through development of a commercial scale plant, which puts Belfast firmly on the map as an emerging UK clean energy hub.
Developing a resilient and reliable supply chain of rare earths is increasingly becoming an issue of national strategic importance as the mining, refining, and recycling of these elements are currently industries dominated by China.
Funding from Innovate UK will enable Ionic Technologies to deliver two critical projects to tackle this challenge.
Johnson said: “There are huge opportunities for UK firms in the booming rare earth elements market, and I congratulate the winners on their success in helping to drive this growth; a brilliant way to kick off the Northern Ireland Investment Summit this week.”
Through partnership with Ford UK and Less Common Metals, Ionic Technologies will work to develop a traceable circular model supply chain for rare earth magnets, vital to power the future roll-out of electric vehicles right across the UK.
A feasibility study delivered with the British Geological Society will determine the scale of a future commercial plant which can lead the charge in creating secure and sovereign UK rare earth supply chains.
General Manager of Ionic Technologies Thomas Kelly said: “We are delighted that Lord Johnson could open our demonstration plant today as this marks a significant milestone for Ionic Technologies.
“Innovate UK’s funding and support will be invaluable in growing our production capability and creating up to 100 new jobs in Belfast.
“At our Belfast base we are demonstrating that our patented process can establish sustainable, sovereign, and secure rare earth supply chains by recycling end-of-life magnets, creating an opportunity for the UK to export these strategic raw materials globally.”