The objective of this effort is to design, discover and deliver an ultra-high-performance magnetic material and associated permanent magnet with minimum energy product of 800 KJ/M3 (100 mgoe),…

The Department of Energy Advanced Research Projects Agency awarded PMT Critical Metals Inc. a $666,000 Cooperative Agreement on August 11, 2026, to design, discover, and deliver an ultra-high-performance magnetic material and associated permanent magnet with a minimum energy product of 800 KJ/m³ (100 MGOE), nearly double the performance of current state-of-the-art NdFeB magnets. The award supports the Advanced Research Projects Agency–Energy program (CFDA 81.135), which funds high-potential, high-impact energy technologies too early for private-sector investment.

The work is performed in Euclid, Ohio, with a period of performance through August 10, 2029. PMT Critical Metals Inc. is leading an assembled team that includes Oak Ridge National Laboratory and Ames National Laboratory, with industry partner PowderMet. The 36-month effort targets achievement of an extremely ambitious materials science objective through an advanced technical approach and coordinated multi-laboratory collaboration.

The objective of this effort is to design, discover and deliver an ultra-high-performance magnetic material and associated permanent magnet with minimum energy product of 800 KJ/M3 (100 mgoe), nearly double that of currently available state-of-art ndfeb magnets. Achieving this extremely ambitious goal in the rapid span of 36 months requires the most advanced approach coupled with the best possible team, which we have assembled from the OAK ridge and ames national laboratories together with powdermet, our accomplished industry partner.