Solcoa Industries

A startup making NdPr and samarium metal from purchased oxide in modular reactors it builds in-house, with a pilot in Alameda, California and a 500 t/yr plant financed for Nevada.

Points to check

Facts from the sources on this page that a reader should weigh before relying on the company's own figures.

The 10 t/yr pilot output is the company's own figure; no purity, oxygen content or shipped tonnage has been published.
Solcoa One is a 50-fold step from the pilot in about nine months from financing; no site, permit or construction start has been found.
A recruiting page claims '100% U.S. supply', while Axios reports feedstock from France, the United States and Malaysia.

At a glance

Founded: 2023 — Founding year is given as 2023 by CB Insights and PitchBook, 2024 by one event listing, and 2025 by the company's own September 2026 release. Founders Hooman Reza Nezhad (CEO) and Artem Iurkovskyi (CTO).
Headquarters: Alameda, California, United States
Ownership: Private, venture-backed. The September 2026 round was led by Bain Capital Ventures with Gigascale, Long Journey Ventures and Felicis, alongside $30 million of debt and equipment financing anchored by J.P. Morgan.
Stage: Developing. Financed in September 2026 ($75 million) for a 500 t/yr metal plant targeted for July 2027; its pilot output claim of more than 10 t/yr has not been independently confirmed.
Listing: Private.
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
Rare earth metal (NdPr and samarium), Alameda pilot, as stated by the company	more than 10 t/yr of 'magnet-grade metal'; not independently confirmed, and no split between NdPr and samarium, purity or tonnage shipped is published	Pilot scale	Sep 2026
Rare earth metal (NdPr and samarium), Solcoa One, Nevada	500 t/yr, targeted July 2027	Announced	Sep 2026
Second facility	3,000 t/yr, undated	Announced	Sep 2026

Narrative

Solcoa describes its chemistry as halide-free and compares it with molten-salt electrolysis, which is how most NdPr metal is made; it has not published a process description, patents, a metal specification or an energy figure. The company says its Alameda pilot produces more than 10 t/yr of magnet-grade metal. On September 24, 2026 it announced $75 million of financing — $45 million of equity led by Bain Capital Ventures and $30 million of debt and equipment financing anchored by J.P. Morgan — to build Solcoa One in Nevada, rated at 500 t/yr of NdPr and samarium metal and targeted for July 2027. Axios reported that feedstock is sourced from France, the United States and Malaysia. Earlier company material described the business as recycling magnet waste; the September 2026 release describes production from refined oxides. No customer, offtake or government award has been announced.

Where public sources disagree

The company's September 2026 release gives more than 10 t/yr of magnet-grade metal at Alameda; the CEO's 2026 conference biography describes 'several tons/year' of rare earth metal alloy.
Founding year: 2023 (CB Insights, PitchBook), 2024 (an event listing) and 2025 (company release, September 2026).
A company job posting describes 'the only one delivering a 100% U.S. supply of both light and heavy rare earths'. Axios reports feedstock sourced from France, the United States and Malaysia, and the September 2026 release names only NdPr and samarium.
Company material in 2025 and a 2026 job posting describe converting magnet waste into metal; the September 2026 release describes producing metal from refined oxides.

Sources

Solcoa announces $75M to scale America's first new metalmaking process in 80 years — Solcoa via Business Wire (FinancialContent) (2026-09-24)
Solcoa raises $75 million for rare earth metal plant — Axios Pro (2026-09-24)
Solcoa Industries (company site) — Solcoa (2026-09-24)
Solcoa Industries rare earth metallization — Rare Earth Exchanges (2026-09-24)
Hooman Reza Nezhad, speaker biography — Magnetics & Driving Systems conference (2026)
Thiel Foundation 2025 class of Thiel Fellows — Silicon UK (2025-05-22)
Gigascale Capital fund announcement — Gigascale via Business Wire (2026-04-09)
Company profile — CB Insights (2026-09-24)
Job posting — SimplyHired (2026-09-24)

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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