Solvay and Carester have signed a memorandum of understanding to establish a partnership to pursue manufacturing opportunities in rare earths for the permanent magnets value chain in Europe, said the company.
Solvay will contribute industrial assets and operational experience, and Carester will add expertise in recycling end-of-life equipment, upstream market knowledge and related activities.
Solvay announced plans in 2022 to expand its rare earth operations at La Rochelle, France, including expansion into the magnet value chain, aiming to enhance European self-sufficiency as China increasingly dominates rare earth refining.
Carester was planned to build a plant at Lacq, France, dedicated to magnet recycling and the extraction of heavy rare earths from mining concentrates.
Europe's transition to electrification in the automotive industry, expansion of wind power energy and acceleration of digitalization necessitate the use of rare earth permanent magnets, Solvay said.
The alliance will "reinforce our dedication to the green energy transition and the rare earths industry through our investment in the magnet value chain, in partnership with Carester," said Philippe Kehren, CEO of Solvay. "By collaborating with established rare earths players outside of China, we're laying the groundwork for a powerful rare earths hub in Europe and establishing a strong European manufacturing base to supply the critically important magnets industry."
A Solvay spokesperson said it would not disclose potential investment “for business reasons, but considering Solvay's already large existing asset base, infrastructure and skilled staff in operation at the La Rochelle site, we are convinced that we can implement this investment in a fast and economic manner.”
We remind, Solvay and Huatai expand hydrogen peroxide capacity in China to meet growing photovoltaic demand. said the company. Building on its existing partnership with Huatai Chemical, the strategic alliance will enable the site to produce 48 kilotons of photovoltaic-grade hydrogen peroxide annually by 2025. This strategic investment not only reinforces Solvay's worldwide market leadership but also positions it to efficiently meet the rising demand from the photovoltaic industry, further supporting the growth of the renewable energy sector in Northern China.
mrchub.com