Energy Fuels secured a $725 million conditional financing commitment from the U.S. Office of Strategic Capital to expand its rare earth and critical mineral capabilities. Following this, the company announced a definitive agreement to acquire Vacuumschmelze (VAC) for approximately $1.9 billion in cash and stock. The acquisition aims to establish an integrated rare earth magnet platform to serve the automotive, defense, and data center sectors, leveraging VAC's advanced manufacturing facility in South Carolina.
The $1.9 billion acquisition creates an integrated 'mine-to-magnet' supply chain serving critical defense, automotive, and data center sectors.
Read the full storyEnergy Fuels announced a $1.9 billion deal to acquire Vacuumschmelze, aiming to create a fully integrated rare earth magnet supply chain for the EV and defense sectors.
The uranium producer received a conditional commitment from the U.S. Department of Energy to bolster domestic rare earth and critical mineral production.
Energy Fuels received a $725 million conditional financing commitment from the U.S. Department of Defense to accelerate domestic production of rare earths and critical materials.