eVAC Magnetics Holds Opening Ceremony for Sumter, South Carolina Rare-Earth Magnet Manufacturing Facility

South Carolina Secretary of Commerce Harry M. Lightsey III delivered the keynote at the July 15 event marking the facility’s continued growth

SUMTER, S.C. – eVAC Magnetics and VACUUMSCHMELZE (VAC) Group held an opening ceremony on July 15 for their rare-earth permanent magnet facility in Sumter, South Carolina, the first large-scale producer of these magnets in the United States in more than a quarter century. South Carolina Secretary of State Harry M. Lightsey III delivered the keynote address.

The ceremony marked another major step in a scaling process that is well underway and years in the making. eVAC began producing commercial rare-earth magnets in 2025, including mass-production-grade sintered magnets for automotive traction motors. The facility has a nameplate capacity of about 2,000 metric tons per year, with room to scale in the coming years."

“When we invested in South Carolina, we made a promise to build a world-class magnet facility and help secure
a supply chain this country cannot afford to leave in other hands,” said Dr. Erik Eschen, Chief Executive Officer
of VAC Group.“Our team delivered. From a soybean field to magnet production in less than 20 months. This
ceremony was a great opportunity to thank them, along with the partners, customers, and officials who believe in
this important work."

The facility represents one of the largest manufacturing investments in South Carolina’s history. It employs 130
people in full-time manufacturing jobs today, with plans to grow to 300, and has drawn skilled workers into a
growing advanced-manufacturing base in Sumter County, with support from state and federal partners. The facility
has supported commercial manufacturing needs since it began production last fall. Earlier this year, eVAC signed
an agreement with the Defense Logistics Agency (DLA) to provide neodymium-iron-boron (NdFeB) rare earth
magnet blocks, aligning with the U.S. Department of War’s (DoW) strategic goal of securing critical domestic
production capability.

In addition to the keynote address by Secretary Harry M. Lightsey III, the July 15 event featured remarks by Sumter
Mayor David Merchant and eVAC Magnetics executive chairman Troy Thacker. Attendees also held a moment of
silence for the late U.S. Senatoror mf South Carolina, Lindsey Graham, who was a champion of eVAC’s Sumter
plant and its mission to reinvigorate an American rare earth magnet industry.

Additional state, federal, and community leaders, as well as VAC customers, attended.

“South Carolina is proud to be home to a facility the entire country is counting on,” said South Carolina Secretary of Commerce Harry M. Lightsey III. "eVAC’s investment in Sumter County is creating good manufacturing jobs
and putting our state at the ecre notf one of the most important industrial efforts in America. We congratulate the
team and look forward to their continued growth in South Carolina."

VAC Group is a portfolio company of Ara Partners, a global private equity and infrastructure firm focused on decarbonizing the industrial economy. In June, Energy Fuels agreed to acquire VAC Group and its eVAC Magnetics business from Ara Partners.

About eVAC Magnetics

eVAC Magnetics is a U.S.-owned and operated manufacturer of high-performance Neodymium-Iron-Boron (NdFeB) permanent magnets. Backed by decades of proprietary process expertise, eVAC is dedicated to onshore production, ensuring North American supply continuity for automotive, defense, and industrial applications.

About VAC Group 

VAC Group is a leading advanced magnetics company with more than 100 years of operation and over 50 years of expertise in high-grade sintered NdFeB and SmCo permanent magnets. Its work is backed by more than 400 patents, and VAC is among the few magnet producers compliant with the Defense Federal Acquisition Regulation Supplement (“DFARS”), a key credential for U.S. and allied defense. VAC operates magnet plants in Hanau, Germany; Ulvila, Finland; Horná Streda, Slovakia; and Sumter, South Carolina. VAC also produces soft magnetic materials and inductive components, and employs about 4,000 people worldwide.

MEDIA CONTACTS: 
Jane Merkler
Email: jane@arapartners.com, Phone: 857-309-4740 

Robert Brooks
Email: rbrooks@theheraldgroup.com,  Phone: 404-414-8059

VAC Group
Email: pr@vacuumschmelze.com, Phone: +496181-38-0