Supplier · United States
Noveon Magnetics
Updated HQ San Marcos, TexasFounded 201451-200 employees
US maker of sintered NdFeB magnets in San Marcos, Texas, including magnets made from recycled magnet feedstock.
Federal Obligations by Year (All USAspending, as Reported at the Time)
| Fiscal year | Direct: assistance | Direct: contracts | Total |
|---|---|---|---|
| FY2026 | $0 | $12.9M | $12.9M |
| FY2025 | $0 | — | $0 |
| FY2024 | $0 | $4.3M | $4.3M |
| FY2023 | $0 | — | $0 |
| FY2022 | $7.2M | $1.7M | $8.9M |
| FY2021 | $0 | — | $0 |
| FY2020 | $22.5M | — | $22.5M |
| FY2018 | — | $3.0M | $3.0M |
| FY2017 | — | $1.9M | $1.9M |
| FY2016 | — | $99K | $99K |
Direct is the company's own reviewed UEIs. Reported by USAspending is subsidiaries as reported by USAspending: recipients that name this company as their parent, not yet reviewed ownership.
Recipients (UEIs) tied to this company
- NOVEON MAGNETICS INC · H14YHTRFDFP7 · $53.5M
Each action counts for the company USAspending reported on that row, so a subsidiary's dollars count for Noveon Magnetics only for the period it reported Noveon Magnetics as its parent. Net of de-obligations; these are obligations, not ceilings. They come from the whole USAspending baseline (every recipient size, contracts and assistance) and are a separate view from the curated contract totals on this page. Fiscal year 2027 is partial.
Funding2 rounds · $220M
- Equity raised
- $220M
- Latest
- $215MSeries C · Jan 19, 2026
| Announced | Stage | Amount | Valuation | Lead investors | Other investors | Confidence |
|---|---|---|---|---|---|---|
| Jan 19, 2026 | Series C | $215M | — | One Investment Management | — | Speculative |
| Sep 11, 2015 | Undisclosed | $5.1M | — | — | — | Confirmed |
- $215MJan 19, 2026
- UndisclosedConfirmed$5.1MSep 11, 2015
Raised counts equity rounds; debt, secondary sales and grants are totaled separately. Amounts in other currencies are converted at the announcement month's average rate. A ~ marks an estimated or converted amount.
Capabilities2
| Technology | Role | Maturity | TRL | Notes | Confidence |
|---|---|---|---|---|---|
| Advanced manufacturing and materials | Supplier | — | — | classify_sectors run 52, haiku, taxonomy 2026-10-18b: Makes sintered NdFeB magnets for motors and high-temperature applications; magnets of this type have evident defense use, though the text does not state one. | Reported |
| Permanent-magnet manufacturing | Supplier | Fielded | — | — | Reported |
- Supplierclassify_sectors run 52, haiku, taxonomy 2026-10-18b: Makes sintered NdFeB magnets for motors and high-temperature applications; magnets of this type have evident defense use, though the text does not state one.—Reported
Maturity and TRL describe this organization's work; the field-wide maturity is on each technology's page.
Supply Chain1 input · 1 supplier · 1 customer · 1 facility
Produces, processes or develops1
| Input | Relation | Criticality | Capacity | Global share | Facility | Confidence |
|---|---|---|---|---|---|---|
| NdFeB permanent magnets | Produces | Critical | — | — | Noveon San Marcos magnet plant | Confirmed |
Suppliers1
| Supplier | Supplies | Notes | Confidence |
|---|---|---|---|
| Lynas Rare Earths | Rare-earth elements | MoU covering light and heavy rare-earth materials. | Reported |
Customers1
| Customer | Supplies | Notes | Confidence |
|---|---|---|---|
| Nidec Motor Corporation | NdFeB permanent magnets | 5-year binding offtake, potentially over 1,000 tons. | Confirmed |
Facilities1
| Facility | Kind | Location | Status | Confidence |
|---|---|---|---|---|
| Noveon San Marcos magnet plant | Factory | San Marcos, Texas, United States | Operating | Reported |
- Noveon San Marcos magnet plantFactory · San Marcos, Texas, United StatesOperatingReported
Sources7
Profile3
- 1
- 2
- 3
Octen Business Search · Supports Organization · employee range, Organization · hq region, Organization · linkedin url
“employee_range: 51-200 (profile: 51-200 employees)”
Technologies1
- 4
Nidec Motor Corporation · Feb 3, 2025 · Supports Facility, Organization, Organization input, Organization technology, Supply relationship
“ST. LOUIS and SAN MARCOS, TEXAS, February 3, 2025”
Funding2
- 5Regulatory filingUrban Mining Co - SEC Form D (0001140361-15-035806)
U.S. Securities and Exchange Commission · Sep 24, 2015 · Supports Funding round · amount
“Total Amount Sold $ 5,066,433 USD”
- 6
multiples.vc · Supports Funding round · amount
“Noveon Magnetics, a U.S.-based manufacturer of sintered rare earth permanent magnets in San Marcos, Texas, closed a $215 million Series C funding round on January 19, 2026, led by a $200 million investment from One Investment Management (OneIM).”
Supply chain1
- 7
Reuters · Oct 8, 2025 · Supports Supply relationship
“The deal includes provision of both light and heavy rare earth materials and the production and supply of finished magnets to end-users across defense, automotive and industrial sectors.”
Each fact on this page is attached to the sources that support it. Archived copies are linked when we keep one.