Mkango subsidiary HyProMag is to participate in a grant-funded project to recycle used rare earth magnets from wind turbines.
Called Re-RE Wind, the project aims to establish a circular chain for decommissioning, new applications and design and lifecycle assessments of wind turbine magnets.
In a statement, Mkango said that the first generation of wind turbines is close to the end of their useful life and a low-carbon decommissioning programme could unlock a new domestic source of rare earths for the UK.
Partners in the Re-RE Winds project include EMR, the Offshore Renewable Energy (ORE) Catapult, Magnomatics and the University of Birmingham with funding of £1.5 million of which £1m will be funded by government investment through Innovate UK.
The budget for HyProMag's portion of the project is around £350,000 of which 70% will be funded by the grant, said the statement.
Nick Mann, operations general manager of HyProMag stated: "Re-RE Wind will address the hurdles for recycling of permanent magnets from wind turbines, effectively unlocking a new domestic source of rare earths.
"It further underpins the scale-up of HyProMag's operations in the UK, whilst complementing other Innovate UK supported projects focused on different scrap streams, such as electronic waste and electric vehicle motors, in which HyProMag is participating."
William Dawes, Mkango’s chief executive, added: "This project further cements Mkango's and HyProMag's early mover advantage in the rare earth magnet recycling sector.”