Evolution Metals & Technologies
Evolution Metals & Technologies Corp. (Nasdaq: EMAT) makes rare earth magnets. Its operating subsidiaries in South Korea have produced bonded magnets for more than 18 years, added sintered magnet production in 2024 and made first sintered sales in 2025; the company does not mine. In June 2026 EM&T completed quality certification with two global Tier-1 electronics OEMs across six sintered grades, including heavy-rare-earth compositions, which it produces at commercial scale today from non-China NdPr metal supplied under contract through SRE Vietnam, a Tokai subsidiary. Thirteen ULVAC production machines scheduled for delivery in November 2026 are intended to take annual capacity from about 1,000 tons to approximately 10,000 tons, ahead of the January 1, 2027 DFARS deadline on magnet sourcing.
Stock information
Stock quote and price chart for Nasdaq: EMAT (delayed at least 15 minutes).
Proven Manufacturing Matters
Rare earth magnet supply is a manufacturing problem more than a mining problem. The rules now reward the company that can make a certified, traceable magnet. EM&T is already doing it.
Guidance
On September 10, 2026 the company provided initial revenue guidance of $5 million to $8 million for fiscal 2026 and $400 million to $460 million for fiscal 2027, the first full year of operations following the Pohang expansion. The guidance reflects anticipated utilization during the production ramp rather than full capacity, and depends on equipment commissioning, customer qualification, feedstock availability, working capital, product mix, pricing and shipment timing.
Read the release ยท See the risk factors in the company's SEC filings
What to watch
- November 2026: delivery and installation of thirteen ULVAC sintered-magnet production machines and the power expansion at Pohang.
- November 10, 2026: scheduled return of China's suspended export controls on magnets and magnet technology.
- January 1, 2027: DFARS 252.225-7052 restrictions on covered-nation magnets in U.S. defense deliverables take effect.
- Quarterly results: per the SEC filings calendar.
Investor FAQ
Is EM&T a mining company?
No. EM&T makes rare earth magnets and the alloy and powder that go into them. It has said it does not intend to enter the mining business. Its metal is sourced under contract from outside China.
Where does EM&T produce?
In South Korea, through operating subsidiaries with more than 18 years of magnet production, consolidating at Pohang. The company is headquartered in Miami and listed on Nasdaq.
What is a certified grade?
A magnet grade that a customer has tested and approved for use in its products. In June 2026 two global Tier-1 electronics OEMs certified six EM&T sintered grades. Certification of a grade is not a purchase order for a volume; it is the step that has to come before one.
How much does EM&T produce today, and what is the plan?
About 1,000 tons of magnets a year today. Thirteen ULVAC machines scheduled for delivery by November 2026 are intended to take annual capacity to approximately 10,000 tons.
What does the DFARS deadline mean for EM&T?
From January 1, 2027, DFARS 252.225-7052 restricts NdFeB and samarium-cobalt magnets from covered nations in U.S. defense deliverables. EM&T makes its magnets from non-China metal and expects that to matter to defense contractors and their suppliers.
Where can I find the company's financial position and funding?
In the SEC filings. EM&T's quarterly reports and its current reports describe its cash position, its financing facilities and the risks relating to liquidity.
Presentations & Replays
Corporate video "Commercial Operations Overview, March 2026", the February 2026 management presentation and webinar replays. See Perspectives.
Latest Press Releases
See Press Releases.