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United States
Momentum Technologies
A privately held Carrollton, Texas refiner using membrane solvent extraction (MSX), licensed from Oak Ridge National Laboratory, to separate NdPr oxide, dysprosium and yttrium from recycled hard-disk-drive material, magnet swarf and mining tailings; its first commercial rare earth line was ramping in October 2026.
Points to check
Facts from the sources on this page that a reader should weigh before relying on the company's own figures.
- The 300 t annual capacity for the first commercial rare earth line does not state whether it measures feedstock or product (citybiz, October 1, 2026).
- The tolling customer is not named (citybiz, October 1, 2026).
- The second Carrollton plant (up to 1,000 t/yr) has not reached a final investment decision (citybiz, October 1, 2026).
- Purity figures are company-reported and differ between the June 2026 and October 2026 releases.
- The about 2,000 t/yr Ohio plant is for battery materials; it was slated in October 2024 to open in 2025 and was at front-end loading stage two in February 2026 (Dallas Innovates; Mining.com).
At a glance
- Founded
- 2016 — Incorporated in 2016 to recover rare earth elements from mined and end-of-life sources; added lithium-ion battery feedstocks around 2020-2021. Co-founders Preston Bryant and Robert Miles; CEO Mahesh Konduru.
- Headquarters
- Carrollton, Texas, United States
- Ownership
- Private. Investors named in public sources: Freestone HoldCo LLC (a Tailwater Capital portfolio company), $20 million in 2021; TechMet (investment listed August 2023, amount not disclosed).
- Stage
- Ramping. First commercial rare earth line at Carrollton, Texas was operating under a tolling agreement and ramping toward 300 t/yr in October 2026; rare earth processing began in October 2025. A larger second plant is pre-FID.
- Listing
- Private. Private; investors include Freestone HoldCo (Tailwater Capital) and TechMet.
- Revenue
- Not publicly disclosed. This company does not publish revenue and no named third party has published an estimate of it.
Capacity
Each date below links to the document the figure came from. A capacity figure with no source is not on this page.
| What | Figure | Status | As of |
|---|---|---|---|
| First commercial rare earth line, Carrollton, Texas (basis, feed or product, not stated) | Ramping toward 300 t annual capacity (company figure) | Operating | Oct 2026 |
| Second Carrollton rare earth plant, rare earth processing | Up to 1,000 t/yr across two build-out phases (design) | Announced | Oct 2026 |
| Commercial-scale rare earth refining project pipeline (projects not named) | 100 to 1,000 t/yr planned | Announced | Jun 2026 |
| Carrollton demonstration unit, throughput (material not specified; battery circuit was running at the time) | 200 t/yr at 98-99% purity | Historical | Oct 2024 |
| Ohio commercial plant, battery materials processing (not rare earths) | About 2,000 t/yr (design) | Announced | Feb 2026 |
Narrative
Momentum Technologies is a privately held processing company in Carrollton, Texas, incorporated in 2016 and initially focused on recovering rare earth elements from mined and end-of-life sources. Its membrane solvent extraction (MSX) process was developed with the U.S. Department of Energy and Oak Ridge National Laboratory, and the company holds four patents licensed from Oak Ridge. Freestone HoldCo, a Tailwater Capital portfolio company, invested $20 million in 2021, and TechMet listed Momentum among its investments in August 2023. A demonstration unit in Carrollton opened in October 2024 and first ran a battery black mass circuit. In October 2025 the company said the plant had begun processing rare earth waste from magnet swarf and mining tailings. A February 2026 report said commissioning of the retrofitted rare earth circuit was expected in mid-February 2026 and that commercial revenue was expected during 2026. On June 29, 2026 the company reported 99.9% NdPr oxide from shredded e-waste and magnet swarf, 99.5%+ dysprosium from magnet production waste and 99.5%+ yttrium from tailings and concentrate, and a planned pipeline of refining projects of 100 to 1,000 t/yr. On October 1, 2026 it said its first commercial rare earth line was operating under an executed tolling agreement with an unnamed hyperscale technology customer, processing recycled hard-disk-drive material and ramping toward 300 t of annual capacity (whether feed or product was not stated), after more than 7,000 t of feedstock and 1,200 operating hours; that release gave 99.5% for NdPr oxide and 99.9% for yttrium. A second, larger Carrollton plant, designed for up to 1,000 t/yr of rare earth processing in two phases, was described as nearing a final investment decision. A separate planned Ohio plant of about 2,000 t/yr is for battery materials, not rare earths; it was at front-end loading stage two in February 2026, with FID then expected that quarter.
Where public sources disagree
- Purity: the June 29, 2026 company release (via Mining Stock Education and Mining Weekly) gives 99.9% NdPr oxide and 99.5%+ yttrium; the October 1, 2026 citybiz report gives 99.5% NdPr oxide and 99.9% yttrium.
- Rare earth start: the October 7, 2025 Business Wire release says the Carrollton plant had commenced processing rare earth waste at commercial scale; the February 4, 2026 Mining.com article says commissioning of the rare earth circuit was still expected in mid-February 2026.
Sources
- Momentum names Ben Gilliams executive partner; first commercial REE line ramping — citybiz (2026-10-01)
- US rare earths refiner demonstrates high-purity production — Mining Weekly (2026-06-30)
- Momentum Technologies achieves record purity milestones (release repost) — Mining Stock Education (2026-06-29)
- Momentum advances dual-track US processing — Mining.com (2026-02-04)
- Momentum expands platform to rare earth elements — Business Wire (2025-10-07)
- Momentum expands platform (MSX developed at CMI/ORNL) — Ames National Laboratory (2025-10-07)
- Momentum opens new HQ and R&D lab in North Texas — Dallas Innovates (2024-10-23)
- Commercial-grade battery materials at scale — Momentum Technologies (2025-09-30)
- TechMet press release (portfolio investments) — TechMet (2023-08-15)
How this page is sourced
Everything here comes from public sources — company filings, annual reports, exchange announcements, government releases and trade press. Every figure is linked to the document it came from and carries the date that document was published, because a capacity number without a date is not a fact, it is a rumor with a decimal point.
What is deliberately absent: material nonpublic information. I have spent more than two decades in this industry and a good deal of what I know about these companies I learned under NDA. Those obligations do not expire and they do not bend for a website. Nothing I have been told in confidence appears here in any form, and nothing on this page — or missing from it — should be read as a signal about what I know privately. I hold NDAs absolutely. It is the reason clients tell me things.
Judgment is the other thing left out on purpose. This page reports what has been published and who published it. Whether a target is credible, whether a ramp will hold, whether a capacity figure survives contact with the plant behind it — that is the work I do for clients, and it does not belong in a free reference page.
Where public sources disagree, I say so rather than picking a winner. Where a figure has not been published, the field says so rather than carrying an estimate. An empty field is information too.
Public filings tell you what a company has said. Whether it holds up is a different question, and the one I get hired to answer.
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