Evolution Metals secures ~754 metric tons of neodymium
The non-China neodymium supply is expected to cover approximately half of the feedstock need tied to EM&T’s 2027 revenue guidance.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Evolution Metals & Technologies Corp. (EMAT) said it secured approximately 754 metric tons of neodymium metal sourced entirely outside China, which it expects to cover approximately 50% of the feedstock required for its full-year 2027 revenue guidance of $400 million to $460 million. The amount includes approximately 42 metric tons delivered to Pohang, 72 metric tons pending shipment through March 2027 and 640 metric tons committed through the end of 2027, including a 600-metric-ton contract with Senri Trading for rapid delivery; another 1,000 metric tons is in discussion for 2027 delivery.
EMAT also holds approximately 520 kilograms of dysprosium in Pohang, with 1.5 metric tons per month committed starting in February 2027. It is commissioning all 57 ULVAC equipment containers as part of an expansion from approximately 1,000 metric tons to more than 10,000 metric tons of annual magnet capacity. The company says its grain boundary diffusion technology requires approximately 0.5% heavy rare earths for high-performance sintered magnets, compared with 3% to 4% historically required, stretching that feedstock six to eight times further. EM&T also targets profitability in 2027.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.Non-China supply: expected to cover approximately 50% of 2027 guidance feedstock.
Negative
- None.
Filing Explained
EM&T says it has assembled the ten factors it considers necessary for large-scale magnet production, while commissioning of equipment for its capacity expansion remains underway; this marks an assembled-prerequisites milestone, not completed expanded production.
8-K Event Classification
Key Figures
Key Terms
grain boundary diffusion technology technical
DFARS 252.225-7052 regulatory
midstream materials technical
strip cast alloy equipment technical
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much neodymium has EMAT secured outside China?
What is EMAT’s 2027 revenue guidance?
What heavy rare earth usage does EMAT report for its grain boundary diffusion technology?
Which regions’ sellers is EMAT in dialogue with about rare earth feedstock?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 7.01 Regulation FD Disclosure.
On October 29, 2026, Evolution Metals & Technologies Corp. (the “Company” or “EM&T”) issued a press release announcing that it has secured approximately 754 metric tons of neodymium metal, sourced entirely outside China, sufficient for approximately 50% of the feedstock it requires to deliver its full-year 2027 revenue guidance of $400 million to $460 million. The total includes approximately 42 metric tons already delivered to Pohang, 72 metric tons pending shipment through March 2027 and 640 metric tons committed through the end of 2027, including a 600-metric-ton contract with Senri Trading for rapid delivery, with a further 1,000 metric tons in discussion for 2027 delivery. For heavy rare earths, the Company holds approximately 520 kilograms of dysprosium metal in Pohang, with 1.5 metric tons per month committed starting in February 2027. With feedstock in place, EM&T has now put together all ten factors it believes are required to manufacture rare earth magnets at large commercial scale: land, power, equipment, permits, operators, feedstock, magnets, buyers, buyer certifications and capital.
A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information contained in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Cautionary Statement Regarding Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the meaning of the federal securities laws, including within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the future financial or operating performance of EM&T and may include, without limitation, statements regarding EM&T’s feedstock supply and ability to source feedstock supply; the installation, commissioning and operation of ULVAC equipment at the Company’s Pohang facility; the planned expansion of annual rare earth magnet production capacity to approximately 10,000 metric tons, including approximately 6,000 metric tons of high-performance sintered magnets; the January 1, 2027 effective date and scope of DFARS 252.225-7052; and the Company’s strategy, business plans and growth opportunities. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential,” “plan,” “project,” “target,” “forecast,” or the negatives of these terms or variations of them or similar terminology. These forward-looking statements are based on management’s current expectations and assumptions and are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include but are not limited to: the risk that the Army may not issue a solicitation or award a contract to the Company; the outcome of any Government-specific qualification, first-article testing or source-origin review; delays in equipment installation or commissioning; the availability and cost of feedstock; customer qualification and demand; the availability of financing and working capital; changes in U.S. or Korean trade, tariff, industrial or defense procurement policy, including the DFARS 252.225-7052 effective date, scope or waiver practices; competition; and other risks described in EM&T’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including the disclosures under “Risk Factors” in EM&T’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 20, 2026, and its Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026, filed with the SEC on August 17, 2026. Forward-looking statements speak only as of the date they are made. EM&T undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are being furnished herewith:
| Exhibit No. | Description | |
| 99.1 | Press Release dated October 29, 2026. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: October 29, 2026
| Evolution Metals & Technologies Corp. |
| By: | /s/ Christopher Clower | |
| Name: | Christopher Clower | |
| Title: | Chief Financial Officer and Chief Operating Officer |
2
Exhibit 99.1
Evolution Metals & Technologies Secures Approximately 754 Metric Tons of Non-China Neodymium Metal, Expected to Cover Half of the Feedstock Estimated for Its 2027 Revenue Guidance
Approximately 42 metric tons of neodymium metal and 520 kilograms of dysprosium metal already delivered to Pohang, 712 metric tons of neodymium pending shipment or committed through 2027, and a further 1,000 metric tons in discussion, all sourced entirely outside China
Dysprosium supply of 1.5 metric tons per month committed from February 2027, with usage efficiency expected to increase six to eight times through EM&T’s grain boundary diffusion technology
Sellers in the U.S., Japan, India, West Africa, Malaysia, Indonesia, and Thailand engage with EM&T to diversify beyond China, historically their dominant buyer
Miami, FL, Oct. 29, 2026 — Evolution Metals & Technologies Corp. (“EM&T” or the “Company”) (Nasdaq: EMAT), a U.S.-based critical materials and advanced manufacturing company, today announced that it has secured approximately 754 metric tons of neodymium metal, sourced entirely outside China, which the Company expects is sufficient for approximately 50% of the feedstock it requires to deliver its full-year 2027 revenue guidance of $400 million to $460 million. The total includes approximately 42 metric tons already delivered to Pohang, 72 metric tons pending shipment through March 2027, and 640 metric tons committed through the end of 2027, including a 600-metric-ton contract with Senri Trading for rapid delivery, with a further 1,000 metric tons in discussion for 2027 delivery. For heavy rare earths, the Company holds approximately 520 kilograms of dysprosium metal in Pohang, with 1.5 metric tons per month committed starting in February 2027. With feedstock in place, EM&T has now put together all ten factors it believes are required to manufacture rare earth magnets at large commercial scale: land, power, equipment, permits, operators, feedstock, magnets, buyers, buyer certifications, and capital.
The disclosure addresses what EM&T sees as the real constraint on magnet supply outside China. Rare earth ore is not scarce. What is scarce is converting that ore into midstream materials to support downstream magnet production. EM&T believes that upon completion of its current expansion it will be one of the largest known in-production magnet and magnet materials producer outside China, with feedstock independent of China in place, and is now commissioning all 57 containers of ULVAC equipment to expand annual capacity from approximately 1,000 metric tons to more than 10,000 metric tons.
That position is also drawing sellers to the Company. Producers of rare earth ore and upstream feedstock have historically had one meaningful buyer, China, and EM&T believes it is one of the few credible buyers outside China that is producing downstream products, including magnets, at commercial scale. Selling to EM&T lets those producers diversify their customer base, and the Company is in dialogue with sellers of rare earth feedstock and end-of-life magnets in the U.S., Japan, India, West Africa, Malaysia, Indonesia and Thailand. EM&T’s grain boundary diffusion technology reduces its heavy rare earth requirements: the Company requires approximately 0.5% heavy rare earths, such as dysprosium and terbium, to produce high-performance sintered magnets, compared with the 3% to 4% historically required, stretching its heavy rare earth feedstock six to eight times further.
“There is no shortage of rare earth material. China is a net importer of rare earth ore, with approximately 60% of what it processes coming from outside China, and there is no shortage of investment in developing even more rare earth mines. What is in short supply, outside China, is commercial-scale magnet production and magnet materials producers,” said Frank Moon, Chief Executive Officer of EM&T. “Approximately 360,000 tons of sintered magnets are made each year, and only about 14,000 tons of those are made outside China. But today, those 14,000 tons are dependent on midstream magnet materials bought from China. Evolution has the equipment and capability to avoid that very issue, with more than 14,000 tons per annum of strip alloy production coming online this year as part of our planned expansion from 1,000 to more than 10,000 tons per annum of finished magnets. We have sourced rare earth magnet materials independent of China, but also continue to source from China. Our flexible, diversified business model serves both defense customers requiring DFARS compliance and commercial customers seeking non-China supply. Together with the other nine operational factors we have established, this positions us to become one of the largest magnet and magnet materials producers outside China. We are focused on executing our expansion plan, building on years of operational experience to position EM&T as a leading non-China supplier. We make magnets.”
“President Donald Trump urged defense contractors and businesses to ‘do magnets,’ telling an audience at the July 2026 Pennsylvania Defense & Innovation Summit, ‘I’ll tell you how to make money. Do magnets.’ That is what EM&T is doing, following the President’s direction,” said David Wilcox, Executive Chairman of EM&T. “We will continue to source feed material wherever and whenever we can to support revenue and margin, and to deliver shareholder returns as we target profitability in 2027. DFARS sets the requirements for defense contractors, and we will also continue to produce magnets for commercial customers whose applications do not require traceability back to the ore. Evolution was built on a diversified strategy spanning input materials, midstream materials and downstream magnet production. That enables us to serve customers across all eight of our certified high-performance grades, grow our bonded magnet business, and supply customers—primarily in Japan—that require non-China intermediate magnet materials, as we scale production with our new strip cast alloy equipment and sintering vacuum furnace system lines.” . Our customer relationships, distribution network, and current magnet revenue support our strategy as we target profitability in 2027 and work to become a leading magnet producer outside China. We are answering the President’s call now, not in 2030.”
EM&T will host a ribbon-cutting ceremony and operational showcase at its Pohang facility on December 17, 2026. The Company has received attendance confirmations from more than 200 individual government representatives, customers, trade partners, investors and bankers. Event details and RSVP are available at evolution-metals.com/rsvp.
About Evolution Metals & Technologies Corp.
Evolution Metals & Technologies Corp. (Nasdaq: EMAT) is a U.S.-based critical materials and advanced manufacturing company for rare earth permanent magnets, battery materials, and related critical minerals and technologies. By leveraging proven commercial-scale operations, advanced processing technologies, and strategic partnerships, EM&T operates what it believes is one of the only vertically integrated critical materials supply chains spanning end-of-life electronics and batteries, high-grade concentrates, and the manufacture of finished rare earth magnets (including high-performance rare earth magnets) and battery materials. For additional information, please visit investors.evolution-metals.com and follow the Company on LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the Company’s neodymium and dysprosium feedstock on hand, pending shipment, committed and in discussion, the timing of shipments and deliveries, the share of the feedstock required for the Company’s 2027 revenue guidance that this feedstock is expected to cover, and the conversion of discussions into contracts and deliveries; the Company’s full-year 2027 revenue guidance and its target of profitability in 2027; the Company’s production and sale of magnets for commercial customers, intermediate magnet material, including for customers in Japan, and bonded magnets; the sourcing of the Company’s feedstock, including feedstock independent of China; the expected benefits of the Company’s grain boundary diffusion technology; the Company’s planned strip alloy production of more than 14,000 tons per annum and its timing; the installation, commissioning and operation of ULVAC equipment at the Company’s Pohang facility and the timing thereof; the planned expansion of annual rare earth magnet production capacity in Pohang to more than 10,000 metric tons; the Company’s market position; the Company’s ability to supply DFARS-compliant magnets and the January 1, 2027 effective date and scope of DFARS 252.225-7052; the ribbon-cutting ceremony and operational showcase on December 17, 2026; and the Company’s competitive position, strategy, business plans and growth opportunities. These forward-looking statements, together with terms such as anticipate, believe, expect, intend, may, plan, should, will and other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Such risks include, among others, that discussions may not result in contracts, and that pending or committed shipments may be delayed, reduced or not delivered; that the Company may not achieve its 2027 revenue guidance or profitability in 2027; the availability, origin, quality, traceability and cost of feedstock, including heavy rare earths; actual production rates, which affect how long feedstock lasts; the performance of grain boundary diffusion technology at expanded production volumes; delays in equipment installation or commissioning; delays in facility readiness or the expansion of power infrastructure; customer qualification and demand; the availability of financing and working capital; changes in Chinese export-control policy or in U.S. or Korean trade, tariff, industrial or defense procurement policy, including the DFARS 252.225-7052 effective date, scope or waiver practices; competition; the Company’s ability to execute its planned expansion; and the other risks described in EM&T’s filings with the U.S. Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these statements, which speak only as of the date made. EM&T undertakes no obligation to update any forward-looking statement except as required by law. Additional information concerning factors that may affect EM&T’s expectations and projections is contained in its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 20, 2026, its Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026, filed with the SEC on August 17, 2026, including the disclosures under “Risk Factors” therein, and other documents filed or to be filed with the SEC by EM&T. SEC filings are available at www.sec.gov.
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