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Vulcan Elements

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Coordinates: 35°55′46.3116″N 78°52′20.5212″W / 35.929531000°N 78.872367000°W / 35.929531000; -78.872367000
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Not to be confused with Vulcan Materials Company.
Vulcan Elements
Company typePrivate
IndustryRare earth magnets
Founded2023; 2 years ago (2023)
HeadquartersResearch Triangle Park, North Carolina, U.S.
Key people
  • John Maslin (CEO and founder)
  • Jake Bowles (COO)
  • Piotr Kulik (CTO)
  • Scott Glover (CCO)
Websitevulcanelements.com

Vulcan Elements is a startup manufacturer of rare earth magnets located in Durham, North Carolina.

Production

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Vulcan Elements currently produces sintered neodymium magnets.[1][2][3][4] As of October 2025, its production capacity is around 10 metric tons per year.[5]

History

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Vulcan Elements was founded in 2023 by former U.S. Navy nuclear propulsion lab financial manager John Maslin, alongside electrical engineer Piotr Kulik, with the intention of competing with rare earth magnet manufacturers based in China.[6][1] Maslin was studying at Harvard University when he started the business.[1]

The company opened its first manufacturing facility on March 31, 2025.[7][1] The opening of the plant was attended by academic, political, and military leaders, including Leonardo Williams, Pat Harrigan, Chris Miller, and Nadia Schadlow.[3][7][8]

In August 2025, the company raised $65 million at a $250 million total valuation, with investors including Altimeter Capital, One Investment Management, and 1789 Capital.[6][9][10][11][12] It had also secured orders from the U.S. military.[6][13]

Key people

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John Maslin is the CEO and founder. Jake Bowles is COO. Piotr Kulik is CTO. Scott Glover is CCO.[14]

Supply chain

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Vulcan Elements aims to source its materials and equipment exclusively from companies that are based in the United States and whose supply chains do not involve business entities based in China.[3][6] Companies in their supply chain include ReElement Technologies in Indiana and Consarc in New Jersey.[3][15][16]

Facilities

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The company's primary facility for both manufacturing and research and development (R&D) is located in the Research Triangle Park in North Carolina.[1] The facility interior encompasses 21,000 sq ft (2,000 m2) and is equipped with a Consarc strip casting furnace.[3] Its process is validated by the Ames Laboratory.[6]

See also

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References

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  1. ^ a b c d e Gordon, Brian (April 16, 2025). "Triangle startup says it has an answer to America's rare earth magnet problem". The News & Observer. Retrieved October 26, 2025.
  2. ^ Lázaro, Isbel (August 14, 2025). "The Vulcan Elements rare earth magnet plant". inspenet.com. Retrieved October 27, 2025.
  3. ^ a b c d e "Vulcan Elements Opens Pilot Plant for Producing Rare Earth Magnets; Consarc Strip-Casting Furnace Installed". Magnetics Magazine. August 5, 2025. Retrieved October 27, 2025.
  4. ^ Stutt, Amanda (August 22, 2025). "Vulcan Elements enters US rare earth magnet manufacturing race". MINING.COM. Retrieved October 27, 2025.
  5. ^ Price, Jay (October 14, 2025). "U.S. works to secure rare earth supply chain as China tightens grip amid trade war". NPR. Retrieved October 31, 2025.
  6. ^ a b c d e Judson, Jen. "Vulcan Elements wins Pentagon deals as $65M round fuels expansion". defensenews.com. Defense News. Retrieved October 26, 2025.
  7. ^ a b "Vulcan Elements Holds Grand Opening of Small-Scale Commercial Manufacturing and R&D Facility: March 31, 2025". AUVSI. April 3, 2025. Retrieved October 27, 2025.
  8. ^ "Vulcan Elements Holds Grand Opening of Small-Scale Commercial Manufacturing and R&D Facility". Vulcan Elements. March 31, 2025. Retrieved October 27, 2025.
  9. ^ Massa, Annie (August 26, 2025). "Malik's 1789 Said to Back Defense, Rare-Earth Magnet Startups". Bloomberg. Retrieved October 24, 2025.
  10. ^ Miao, Hannah. "Rare-Earth Magnet Maker Raises $65 Million in Push to Counter China". The Wall Street Journal. Retrieved September 5, 2025.
  11. ^ Gordon, Brian. "Triangle firm raises $65 million to combat China's control of rare earth magnets". newsobserver.com. The News and Observer. Retrieved September 5, 2025.
  12. ^ "Vulcan Elements Announces $65 Million Series A, and Produces High-Performance Rare Earth Magnets in the United States". AUVSI. August 12, 2025. Retrieved October 27, 2025.
  13. ^ Primack, Dan; Demarest, Colin. "Vulcan raises $65 million to onshore rare-earth magnets". Axios. Retrieved September 5, 2025.
  14. ^ "Rare Earth Magnets for a Resilient Future". Vulcan Elements. June 21, 2024. Retrieved October 27, 2025.
  15. ^ "Vulcan Elements secures non-Chinese rare earth supply from ReElement". mining-technology.com. Retrieved September 5, 2025.
  16. ^ "Vulcan Elements signs rare earths supply deal with ReElement Technologies". Reuters. Retrieved September 5, 2025.
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35°55′46.3116″N 78°52′20.5212″W / 35.929531000°N 78.872367000°W / 35.929531000; -78.872367000

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