5E Advanced Materials Launches Ferroboron Trial Program to Support U.S. Mine-to-Magnet Supply Chain

Rhea-AI Summary

5E Advanced Materials (NASDAQ:FEAM) has begun laboratory trials to produce magnet-grade ferroboron, engaging Dr. William M. Carty, Ph.D., to lead the work. The program targets initial sample delivery and qualification with specialty steel and NdFeB permanent magnet users in the first half of 2026.

Deliverables include product chemistry, impurity profiles, particle size distribution, and preliminary mass and energy balances to inform early process design and economics, leveraging planned domestic boric acid feedstock.

News Market Reaction – FEAM

+9.04%

12 alerts

+9.04% News Effect

+9.8% Peak Tracked

-5.9% Trough Tracked

+$7M Valuation Impact

$90M Market Cap

0.4x Rel. Volume

On the day this news was published, FEAM gained 9.04%, reflecting a notable positive market reaction. Argus tracked a peak move of +9.8% during that session. Argus tracked a trough of -5.9% from its starting point during tracking. Our momentum scanner triggered 12 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $7M to the company's valuation, bringing the market cap to $90M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Initial qualification timing: First half of 2026 Redox process routes: 2 process routes Alfred University tenure: 1993–2020 +1 more

4 metrics

Initial qualification timing First half of 2026 Target for initial magnet-grade ferroboron sample qualification

Redox process routes 2 process routes Redox-based laboratory pathways selected for ferroboron production trials

Alfred University tenure 1993–2020 Period Dr. Carty taught ceramic engineering at Alfred University

Relocation year 2022 Year Dr. Carty relocated to New Hampshire

Market Reality Check

Price: $2.10 Vol: Volume 317,884 is below t...

low vol

$2.10 Last Close

Volume Volume 317,884 is below the 20-day average of 632,483 (about 0.5x typical activity). low

Technical Price at $1.88 is trading below the $3.88 200-day moving average, reflecting a longer-term downtrend.

Peers on Argus

FEAM is up about 9.3% while momentum data show only one peer (FF) moving down an...

1 Down

FEAM is up about 9.3% while momentum data show only one peer (FF) moving down and sector peers are mixed (e.g., ALTO +1.26%, LOOP +1.54%, TSE -4.64%, NTIC -1.8%, AMTX +1.43%). This points to a stock-specific reaction to the ferroboron trial news rather than a broad sector move.

Historical Context

5 past events · Latest: Feb 18 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 18	Q2 call update	Positive	-10.7%	Call highlighted DOE grant bid, Fort Cady readiness, and ferroboron testing plans.
Feb 10	Earnings call notice	Neutral	-0.8%	Announcement of upcoming Q2 call to discuss financing and Fort Cady progress.
Feb 04	Ferroboron strategy	Positive	+2.3%	Plan to target domestic ferroboron using Fort Cady boric acid for U.S. supply chains.
Feb 03	Equity offering close	Negative	-0.5%	Closing of <b>$36 million</b> common stock offering at <b>$2.00</b> per share.
Jan 29	Equity offering priced	Negative	-5.3%	Pricing of <b>18,000,000</b> new shares at <b>$2.00</b> for gross proceeds of <b>$36.0M</b>.

Pattern Detected

Recent offerings drew modestly negative but aligned reactions, while one positive operational update on financing and ferroboron coincided with a double‑digit decline, suggesting occasional selling into good news.

Recent Company History

Over recent months, 5E Advanced Materials has focused on funding Fort Cady and advancing its boron strategy. Two upsized public offerings priced and closed at $2.00 per share raised about $36 million each, with proceeds earmarked for the small-scale boron facility, wellfield development, and FEED work. Operationally, the company highlighted a US$31 million DOE grant application and plans for specialty ferroboron testing by late spring 2026, plus targeting domestic ferroboron production. Today’s ferroboron trial launch builds directly on those earlier strategic and financing steps.

Market Pulse Summary

The stock moved +9.0% in the session following this news. A strong positive reaction aligns with the...

Analysis

The stock moved +9.0% in the session following this news. A strong positive reaction aligns with the strategic nature of this update, as FEAM advanced from targeting ferroboron to commencing magnet-grade ferroboron trials. The move builds on earlier announcements about domestic ferroboron and federal grant efforts, while the stock still trades well below its $7.50 52-week high at about $1.88. With prior equity offerings completed at $2.00, investors may weigh execution risk alongside capital needs.

Key Terms

ferroboron, neodymium-iron-boron (ndfeb), permanent magnets, redox-based, +4 more

8 terms

ferroboron technical

"Ferroboron is a ferrous iron-boron alloy used to introduce boron..."

Ferroboron is a manufactured metal product made by combining iron and boron into a single material that steelmakers add in small amounts to change the metal’s properties. It acts like a concentrated seasoning for steel, improving hardness, strength, and magnetic behavior for applications from automotive parts to electrical components. Investors watch ferroboron because its price and availability influence manufacturing costs, product performance and supply-chain risks for companies that rely on treated steel or magnetic materials.

neodymium-iron-boron (ndfeb) technical

"...boron source in the production of neodymium-iron-boron (NdFeB) permanent magnet alloys."

Neodymium-iron-boron (NdFeB) is a family of very strong permanent magnets made from the rare-earth metal neodymium combined with iron and boron; they pack high magnetic power into small, lightweight pieces. Investors care because these magnets are essential components in electric vehicle motors, wind turbines, electronics and other clean-energy technologies, so their supply, price and geopolitical concentration can materially affect costs, production capacity and company valuations.

permanent magnets technical

"NdFeB permanent magnets are essential components in high-efficiency electric motors..."

Permanent magnets are materials that produce a steady magnetic field without needing electricity, like a fridge magnet that always sticks. Investors care because these magnets are key parts in electric motors, generators and sensors across industries such as electric vehicles, wind turbines and consumer electronics, so changes in their cost, availability or technology can affect manufacturing costs, product performance and company profits.

redox-based technical

"5E has identified two redox-based (reduction-oxidation) process routes..."

Redox-based describes drugs, therapies, or technologies that work by changing the balance of oxidation and reduction — the chemical 'rusting' and 'repair' processes that happen in cells when electrons move around. For investors, the label signals a specific way the product acts, which affects potential benefits, safety risks, measurable tests, and manufacturing challenges, so it helps gauge clinical prospects, regulatory review and commercial scalability.

reduction-oxidation technical

"two redox-based (reduction-oxidation) process routes to trial ferroboron production..."

Reduction-oxidation, often called redox, are chemical reactions where one substance gives up electrons (is oxidized) and another picks them up (is reduced); think of it as two people passing tokens so one loses and the other gains. These reactions underlie batteries, many drug actions, manufacturing processes and material stability, so they affect product performance, safety testing, costs and regulatory approval—making redox behavior important for investors evaluating technology, healthcare or industrial companies.

pyrolysis technical

"specialization in powder processing and forming..., pyrolysis and sintering processes..."

Pyrolysis is a heat-driven process that breaks down organic or plastic materials into simpler gases, liquids and solid carbon by heating them in the absence of oxygen; think of it as controlled charring that captures useful byproducts instead of burning them to ash. Investors care because pyrolysis can turn waste into saleable fuels, chemical feedstocks or carbon-rich solids, create new revenue streams, cut disposal costs and qualify for environmental credits, all of which affect a project’s economics and sustainability profile.

sintering technical

"specialization in powder processing and forming..., pyrolysis and sintering processes..."

Sintering is a manufacturing step that uses heat (below melting point) and sometimes pressure to fuse powdered materials—metals, ceramics or plastics—into a solid, shaped part. For investors it matters because sintering quality and efficiency affect product performance, production costs, yield and the ability to scale; think of it like baking a batch of cookies where oven temperature and time determine whether each cookie holds its shape and tastes right, influencing cost and customer satisfaction.

microstructure evolution technical

"His research interests include high-temperature compatibility... and microstructure evolution..."

Microstructure evolution describes how the underlying mechanics of trading—such as order books, bid/ask spreads, transaction speeds, and the behavior of different market participants—change over time. Investors care because these shifts alter how easily and cheaply trades are executed, how quickly prices reflect new information, and how much short-term price swings occur; think of it as changes to the road and traffic rules that affect how fast and smoothly you can drive to your destination.

AI-generated analysis. Not financial advice.

Ceramics and High-Temperature Processing Expert Dr. William M. Carty, Ph.D., Engaged to Lead Ferroboron Trial

Targets Supplying Magnet-Grade Ferroboron to Potential Customers for Initial Qualification in First Half of 2026

HESPERIA, CA / ACCESS Newswire / February 25, 2026 / 5E Advanced Materials, Inc. ("5E" or the "Company") (NASDAQ:FEAM)(ASX:5EA), a company focused on becoming a vertically integrated global leader and supplier of refined borates and advanced boron derivative materials, today announced it has commenced trials to evaluate production of magnet-grade ferroboron. As part of this initiative, the Company has engaged Dr. William M. Carty, Ph.D., to lead the ferroboron trials and support its efforts to qualify the material with potential customers.

Ferroboron is a ferrous iron-boron alloy used to introduce boron into specialty steel, and it can also serve as a boron source in the production of neodymium-iron-boron (NdFeB) permanent magnet alloys. The United States does not currently produce ferroboron domestically, creating a critical import dependency within specialty steel and permanent magnet supply chains.

5E has identified two redox-based (reduction-oxidation) process routes to trial ferroboron production in a laboratory environment. The program leverages 5E's planned domestic boric acid production as a secure upstream feedstock, reinforcing the Company's downstream derivative strategy. The Company intends to provide initial samples meeting specifications to prospective end users across specialty steel and NdFeB permanent magnet supply chains for evaluation and initial qualification in the first half of 2026. Program deliverables are expected to include product chemistry, impurity profiling, and particle size distribution, as well as preliminary mass and energy balances designed to inform early-stage process design and initial economic assessment.

Key Takeaways:

• Dr. Carty brings deep expertise in ceramic powder processing and forming, high-temperature processes, powder characterization, and statistical analysis.

• His experience includes high-temperature compatibility of oxides, carbides, nitrides, and borides, and developing robust high-temperature solutions for high-performance materials.

• Two redox-based technology pathways have been selected for laboratory evaluation; the Company is targeting delivery of initial samples to prospective end users across specialty steel and permanent magnet supply chains.

• Expected deliverables include material and energy balances to support early-stage processing and economic evaluation, leveraging 5E's planned domestic boric acid production.

"This program represents the strategic next step toward establishing a secure, domestic supply chain of ferroboron," said Paul Weibel, Chief Executive Officer. "We are pleased to engage Dr. William M. Carty in leading this initiative, bringing his expertise to support the development and evaluation of initial material for potential customers. By generating critical technical data and advancing early customer qualifications, we are positioning 5E to accelerate scale-up and capture strategic opportunities in the U.S. specialty steel and permanent magnet supply chains."

NdFeB permanent magnets are essential components in high-efficiency electric motors, wind turbines, industrial automation, and defense systems. Global demand for NdFeB magnets is expected to grow significantly over the next decade, driven by electrification, renewable energy expansion, and advanced defense systems. Global magnet supply chains remain highly concentrated, and recent export controls and geopolitical friction have reinforced investors and customers to focus on resilient, domestic magnet supply chains. This initiative reflects 5E's strategy to expand beyond first derivative borates into higher-value performance materials, which may enhance long-term revenue mix, strategic relevance, and customer integration.

Professional Notes: Dr. William M. Carty, Ph.D.

Dr. Carty is serving as the Company's engaged expert in connection with the Company's ferroboron trial program. Dr. Carty is Professor Emeritus of Ceramic Engineering at Alfred University, where he taught from 1993 to 2020. He relocated to New Hampshire in 2022 and currently serves as Chief Technology Officer for Materials Research Furnaces in Allenstown, New Hampshire. He also consults across the ceramic industry, with specialization in powder processing and forming (traditional and advanced ceramics and composites), pyrolysis and sintering processes, microstructure evolution, high-temperature chemical reactions, mechanical behavior of ceramics and composites, powder characterization, and statistical analysis. His research interests include high-temperature compatibility of oxides, carbides, nitrides, and borides, and the development of robust high-temperature solutions for high-performance materials.

About 5E Advanced Materials, Inc.

5E Advanced Materials, Inc. (NASDAQ:FEAM) (ASX:5EA) is focused on becoming a vertically integrated global leader and supplier of refined borates and advanced boron materials, complemented by calcium-based co-products, and potentially other by-products such as lithium carbonate. The Company's mission is to become a supplier of these critical materials to industries addressing global decarbonization, energy independence, food, national security, and the defense sector. The Company believes factors such as government regulation and incentives focused on domestic manufacturing and supply chains and capital investments across industries will drive demand for end-use applications like solar and wind energy infrastructure, neodymium-ferro-boron magnets, defense applications, lithium-ion batteries, and other critical material applications. The business is based on the Company's large domestic boron resource, which is located in Southern California and designated as Critical Infrastructure by the U.S. Department of Homeland Security, and boron was included on the U.S. Government's 2025 List of Critical Minerals.

Forward-Looking Statements

Statements in this press release may contain "forward-looking statements" that are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other similar expressions, and include, but are not limited to, statements regarding the Company's ferroboron trial program; the timing and results of the ferroboron trials; the ability to produce ferroboron at acceptable cost, scale and quality; development plans; production capabilities; commercialization strategy; ability to negotiate or obtain offtake agreements; customer qualification processes for any of its proposed products, and success thereof; market demand for boron, lithium and ferroboron; the potential applications of its products across energy, defense, agriculture and industrial markets; and ability to access and secure any government-based financing. Any forward-looking statements are based on 5E's current expectations, forecasts, and assumptions and are subject to a number of risks and uncertainties that could cause actual outcomes and results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, statements regarding the Company's ferroboron trial program; the timing and results of the ferroboron trials; the ability to produce ferroboron at acceptable cost, scale and quality; development plans; production capabilities; commercialization strategy; ability to negotiate or obtain offtake agreements; customer qualification processes for any of its proposed products, and success thereof; market demand for boron, lithium and ferroboron; the potential applications of its products across energy, defense, and industrial markets; and ability to access and secure any government-based financing. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in 5E's most recent Annual Report on Form 10-K and its other reports filed with the SEC. Forward-looking statements contained in this announcement are based on information available to 5E as of the date hereof and are made only as of the date of this release. 5E undertakes no obligation to update such information except as required under applicable law. These forward-looking statements should not be relied upon as representing 5E's views as of any date subsequent to the date of this press release. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of 5E.

For further information contact:

Investor Relations
Brett Maas
Hayden IR, LLC
FEAM@haydenir.com
Ph: +1 (480) 861-2425

Media Relations
Paola Ashton
PRA Communications
team@pracommunications.com
Ph: +1 (604) 681-1407

SOURCE: 5E Advanced Materials, Inc.

View the original press release on ACCESS Newswire

FAQ

What is 5E Advanced Materials (FEAM) trialing with ferroboron in 2026?

5E is conducting laboratory trials to produce magnet-grade ferroboron and evaluate two redox-based process routes. According to the company, trials will generate chemistry, impurity profiles, particle size data, and preliminary mass and energy balances to support early process design.

Who is leading FEAM's ferroboron trial program and what is their expertise?

Dr. William M. Carty, Ph.D., is engaged to lead the ferroboron trials, bringing ceramic powder and high-temperature processing expertise. According to the company, his background includes powder characterization, sintering, borides, and statistical analysis relevant to material qualification.

When does FEAM expect to provide initial ferroboron samples to potential customers?

FEAM intends to deliver initial samples for evaluation and qualification in the first half of 2026. According to the company, samples will target prospective end users across specialty steel and NdFeB permanent magnet supply chains for initial testing.

How will FEAM use domestic boric acid in its ferroboron program (FEAM)?

FEAM plans to leverage its planned domestic boric acid production as an upstream feedstock for ferroboron trials. According to the company, this is intended to reinforce a domestic mine-to-magnet derivative strategy and reduce import dependency.

What technical deliverables will FEAM's ferroboron program produce for investors and partners?

The program will produce product chemistry, impurity profiling, particle size distribution, and preliminary mass and energy balances. According to the company, these deliverables will inform early-stage process design and initial economic assessment.

Why is domestic ferroboron production significant for the U.S. supply chain and FEAM (FEAM)?

Domestic ferroboron could reduce U.S. import dependency for specialty steel and NdFeB magnet supply chains. According to the company, developing domestic capacity supports resilient magnet supply chains amid concentrated global production and geopolitical export controls.