The name almost sounds like a mystical spell. Neodymium. Prasemodymium. The powder may look grey, but don’t be fooled. We need it, among other things, for our electric cars if the battery is to withstand a long journey without having to be charged en route. It keeps wind turbines, robots and pumps running. In short, we are talking about NdPr. The chemical abbreviation for the magnetic metals that will shortly be produced at the new factory of the company REEtec on Herøya in Porsgrunn. The billion investment, in which the state is also an owner, was announced at a press conference at the mining company LKAB in Sweden on Tuesday morning. Long waiting lists There are long waiting lists for new electric cars, not least in Norway. The pandemic may be in luck, but car manufacturers’ hunt for raw materials has not become less intense. If the waiting time is to be reduced, there must be better access to various components that are absolutely necessary for the cars to be completed. Espen Johannesen has waited half a year for his new electric car. Production of magnetic metals in Porsgrunn can help reduce the waiting time for electric car customers. Photo: Veronica Westhrin / news One of those who have waited a long time for a new car is Espen Johannesen from Kragerø. In the communal garage where he lives, several of the neighbors have experienced the same thing. He ordered his new VW ID4 in April, and only until next week, half a year later, can he get behind the wheel. – You get used to having to wait. That is how it has become, he says. Lars Joakim Hanssen, communications manager for Volkswagen in Norway, confirms that many will have to wait. – This is a challenge for the entire car industry, which is mainly due to a lack of microchips, he says to news. Investing 1.2 billion Hopefully the new factory in Norway can contribute to making the waiting time for electric cars shorter in the years to come. The factory on Herøya will, among other things, become a major supplier to the German car industry, through Schaffler, which supplies electric car engines to Volkswagen. Some of what is in demand for production is magnetic metal, and this is exactly what REEtec will help solve, says chairman John Andersen. – If you want an electric car with good efficiency and a long range, you want these magnetic metals in the electric motor, he explains. For now, only a few small jars of powder testify that something exciting is going on in the large empty factory halls, but this image will soon change. Mining giant LKAB is the largest shareholder. When production starts midway in 2024, the new plant will have a capacity of 720 tonnes a year. According to the owners, this represents 5 percent of the estimated demand in the EU. Toril Roberg (factory manager Reetec), Sigve Sporstøl (managing director Reetec) and John Andersen (chairman Reetec). Photo: Nils Fridtjof Skumsvoll / news The European Commission considers rare earths to be critical materials for achieving climate neutrality by 2050. The market for magnetic metals is expected to increase fivefold to 33 billion dollars by 2030. Today, the products are mainly imported from China, which accounts for 85 percent of production in the world. Local production in Europe is crucial, and REEtec’s factory in Porsgrunn therefore becomes an important piece when they start production. The company itself claims that its proprietary technology can simultaneously reduce CO2 emissions by 90%, compared to other leading suppliers. Photo: Nils Fridtjof Skumsvoll / news – The future is electric. If we are to manage to achieve growth in the production of renewable energy, and growth in, for example, the use of electric cars, we are dependent on these magnetic metals, says Andersen. The company he represents is raising a total of NOK 1.2 billion to realize the production in Porsgrunn. Can be traveled more quickly Initially, the raw materials come from mines in Canada. In the long term, however, it may be significantly shorter. A few miles to the west is the Fensfield at Ulefoss, an area with large mineral deposits. The company is already planning the construction of a second plant on Herøya in 2026. – Then it would have been elegant if the raw materials could be collected three and a half miles away, from the Fensfield, says Andersen. The state invests The factory in Porsgrunn has made many investors take an interest. Among them is the state-owned climate investment company Nysnø, which has invested NOK 100 million. Siri Kalvig, managing director and Bertel Ånestad, investment director at Nysnø. Photo: Arild Eskeland / news They believe that Reetec will be able to supply rare earth species that are absolutely essential for the green shift. – This is one of the biggest investments we make, confirms investment director Bertel Ånestad. Siri Kalvig, managing director of Nysnø, believes the investment is important. – We are also looking for investments where we believe there are Norwegian competitive advantages. We think we have fulfilled that here.
ttn-69
The metal can make the waiting time for an electric car shorter and production more environmentally friendly – news Vestfold and Telemark – Local news, TV and radio
