Skip to content
Companies

Vulcan Elements

Rare earth magnets for defense and industry

Raised to date

$430.7M

of $545M offered across 1 Form D filing

Still open
$114.3M
Investors
32
Last filed
Apr 2, 2026

About

Vulcan Elements manufactures high-performance rare earth permanent magnets in the United States, aiming to rebuild a domestic supply chain for a component almost entirely produced in China. The company opened its first commercial magnet manufacturing facility in Durham, North Carolina's Research Triangle Park and is building a 10,000-tonne plant in Benson, North Carolina. Its magnets are aimed at defense systems, drones, satellites, semiconductor fabrication equipment, hard disk drives, robotics, industrial motors and automotive applications. It raised a $65 million Series A led by Altimeter Capital and received a $620 million loan from the Pentagon's Office of Strategic Capital as part of a $1.4 billion U.S. government partnership.

One of very few US producers of sintered neodymium-iron-boron magnets at commercial scale, pairing process automation that lowers cost with US and allied feedstock partnerships (including Ucore) so defense and commercial buyers can source magnets outside the Chinese supply chain.

Funding

  • EquityFiled Apr 2, 2026Form D
    $430.7M/ $545M

Product

Rare earth permanent magnets

Advanced manufacturing / critical materials

High-performance sintered rare earth magnets produced domestically at the company's North Carolina facilities, built to meet defense-grade and commercial performance requirements.

  • Manufactured entirely in the United States
  • Qualified for advanced defense as well as commercial applications
  • Process optimization and automation aimed at reducing production cost

Built for

Defense contractors and industrial manufacturers needing rare earth magnets for motors, actuators and precision equipment, spanning drones, satellites, semiconductor fabrication tools, hard disk drives, robotics, power tools and automotive non-drivetrain motors

People on file