USA Rare Earth Bolsters Global Sales Effort with Appointment of Ron Fogarty as Vice President of Sales

Rhea-AI Summary

USA Rare Earth (NASDAQ: USAR) has appointed Ron Fogarty as Vice President of Sales to lead global sales efforts for their sintered neodymium magnet production facility in Stillwater, Oklahoma. Fogarty brings over 35 years of experience in sales and business development, previously serving as VP of Sales at ABB. The appointment follows multiple customer MOU announcements in May and June 2025, with USAR aiming to deliver neo magnets to customers in 2026. CEO Joshua Ballard emphasized that Fogarty's appointment aligns with their 2025 objective of securing supply agreements for 2026 delivery and building a robust sales organization. Fogarty, who holds an MBA and a bachelor's in electrical engineering from the University of Missouri, plans to leverage local talent around Stillwater operations to support the company's growth initiatives.

Positive

• Appointment of experienced executive with 35+ years in sales and business development from major technology company ABB
• Strategic timing following multiple customer MOU announcements, indicating growing market interest
• Clear focus on building domestic supply of rare earth magnets, addressing a critical market need
• Company is on track for 2026 product delivery commitments

Negative

• Sales organization still in early development stages, requiring significant build-out
• Actual product delivery and revenue generation not expected until 2026

New Hire Follows Multiple Customer MOU Announcements in May and June, Ensuring USAR will Remain on Track to Deliver Neo Magnets and Support Customers in 2026

STILLWATER, Okla., June 23, 2025 (GLOBE NEWSWIRE) -- USA Rare Earth, Inc. (Nasdaq: USAR) (USAR or the Company), today announced the appointment of Ron Fogarty as Vice President of Sales. Mr. Fogarty will lead global sales efforts in support of the Company’s sintered neodymium (neo) magnet production facility in Stillwater, Oklahoma.

Mr. Fogarty has over 35 years of sales, business development and organizational enhancement experience, and most recently served as Vice President of Sales for ABB, a global technology leader in electrification and automation. Fogarty will bring his expertise in driving sustainable growth, streamlining go-to-market operations, and aligning teams to serve as USAR’s first Company-wide executive sales leader.

“Ron is joining at an important time for the company as we look to deliver on one of our key objectives for 2025 – securing supply agreements for 2026 delivery and building the sales and support organization we need to successfully deliver on growth in the coming years,” said Joshua Ballard, CEO. “Ron has a reputation for building and developing strong teams. His experience in developing top line sales in commercial, industrial and process industries will allow us to deliver on USAR’s rapid growth plans in the coming years.”

“With the market conditions and demand for a domestic supply of neo magnets, I look forward to helping USA Rare Earth complete its mission to develop a steady and secure domestic supply of rare earth magnets,” said Fogarty. “I’m particularly energized by the Company’s effort to meet the unique needs of customers across a broad range of growing industries, and its potential for sustained growth over the next decade, and beyond. As we build the sales organization that can scale to support this growth, I plan to draw on the immense heartland talent that surrounds the company’s Stillwater operations.”

Mr. Fogarty holds an MBA from the University of Missouri-Saint Louis and a bachelor's degree in electrical engineering from the University of Missouri-Columbia.

For more information, please visit USARE.com and connect with us on LinkedIn and X.

About USA Rare Earth
USA Rare Earth is building the first and largest fully domestic rare earth magnet supply chain in the U.S. USAR is currently constructing a 310k square foot rare earth sintered neo magnet manufacturing facility in Stillwater, Oklahoma. USAR also controls mining rights to the Round Top Mountain rare earth and critical minerals deposit in West Texas, which holds significant deposits of heavy rare earths, such as dysprosium and terbium, as well as gallium, beryllium, lithium and other critical tech minerals. USAR’s permanent neo magnets and rare earth minerals are required for a wide variety of products used in the defense, automotive, aviation, industrial, medical, and consumer electronics industries.

Investor Relations Contact:

Lionel McBee
VP, Investor Relations
IR@usare.com

Media Relations Contact:

Cricket PR
Brian Hyland
(201) 410-4563
USARE@cricketpr.com

FAQ

Who is Ron Fogarty and what is his role at USA Rare Earth (USAR)?

Ron Fogarty is the newly appointed Vice President of Sales at USA Rare Earth, leading global sales efforts for their neodymium magnet production facility. He previously served as VP of Sales at ABB and has over 35 years of industry experience.

When will USA Rare Earth (USAR) begin delivering neo magnets to customers?

USA Rare Earth plans to begin delivering neo magnets to customers in 2026, with supply agreements being secured throughout 2025.

What is USA Rare Earth's (USAR) main production facility location?

USA Rare Earth's sintered neodymium magnet production facility is located in Stillwater, Oklahoma.

What are Ron Fogarty's qualifications at USA Rare Earth (USAR)?

Ron Fogarty holds an MBA from the University of Missouri-Saint Louis, a bachelor's degree in electrical engineering from the University of Missouri-Columbia, and has over 35 years of experience in sales, business development, and organizational enhancement.

What is USA Rare Earth's (USAR) business focus?

USA Rare Earth focuses on developing a domestic supply of rare earth magnets, specifically sintered neodymium magnets, to serve various growing industries in the United States.