Evolution Metals & Technologies Investor Relations

Container Count Previews Capacity Growth

Corporate Commentary ยท 2026-11-03

The last of 57 containers of ULVAC magnet production equipment reached our Pohang plant on October 28, thirteen days after the first thirteen arrived.[1][9] Installation started as each container was unloaded, and commissioning and assembly of the new equipment have begun.[3][9]

Investors should watch the container count because our capacity-growth runs through these machines. Our existing Korean operations can make about 1,000 metric tons of magnets a year now. With the new equipment installed and commissioned, that capacity expands ~10X, roughly 6,000 of which should be high-performance sintered magnets.[1] Delivery was the first of three steps. Installation is under way, and commissioning is scheduled to begin in November.[9]

The EM&T advantage is where the machines are going. Pohang has made sintered magnets since 2024, our eight sintered grades carry customer certification, and N42SH is in commercial production on the very line being expanded.[4][9] The power for a larger plant is in place: 880 megawatts under the terms agreed with KEPCO in August, and a substation rated at 3 GW has been delivered.[5][9] The operators who run today's furnaces will run the new ones, and on October 27 Pohang City signed an investment framework to support the expansion, with about US$28 million in local grant funding expected, subject to conditions.[9]

A company starting a magnet plant from an empty lot has years of work to do before a single product gets made, let alone thousands of them, quality assured and ready for commercial use. The aerospace industry does not expect new U.S. capacity of that kind before 2028.[8] Growing from a running line narrows the job to the equipment, and even the equipment rewards the early order. As Frank Moon put it on October 28, "Equipment like this does not come off a shelf. Sintered magnet production lines carry lead times of two years or more."[9] ULVAC, which holds more than 70 percent of its furnace markets, can build about a dozen of these machines a year at its new Japanese line and expects orders to triple.[6] Our orders were placed in May, which is why delivery happens now.[2]

Frank Moon said it on the day the first trucks arrived: "This is about executing growth, not planning."[1] Execution has a concrete calendar. The containers are in. Commissioning through November.[9] December 17, a ribbon-cutting at Pohang with live magnet making, webcast at investors.evolution-metals.com, with more than 200 attendance confirmations already in hand.[1][9] January 1, when the U.S. defense sourcing rules likely change.[7]

Sources

Numbers match the bracketed markers in the body. Each becomes a footnote or a hyperlink on the relevant phrase when the post goes into the CMS.

  1. Evolution Metals & Technologies, Takes Delivery of Additional ULVAC Magnet Production Equipment, Unlocking Ten-Fold Magnet Capacity Expansion, October 15, 2026. Source for the first container count, the capacity figures, the Frank Moon quote and the December 17 event.

  2. Evolution Metals & Technologies, Signs Equipment Purchase Agreements with ULVAC, May 14, 2026: thirteen sintered magnet production machines on binding purchase orders with ULVAC Korea, delivery and installation by November 2026. Also the Q2 2026 Form 10-Q, Management's Discussion and Analysis.

  3. Evolution Metals & Technologies, Raises FY2026 Revenue Guidance, October 9, 2026: installation to begin immediately after delivery at Pohang.

  4. Evolution Metals & Technologies, Reaffirms FY2027 Revenue Guidance, Unveils Eight Sintered Magnet Grades, October 14, 2026: the eight grades, N42SH in commercial production. Sintered production since 2024: Annual Report on Form 10-K for 2025, Item 1.

  5. Evolution Metals & Technologies, Announces Major 750-Megawatt Power Infrastructure Expansion, August 27, 2026: principal terms with KEPCO to expand supply at Pohang.

  6. ULVAC, Inc., ULVAC Establishes Japan-Based Production for Rare-Earth Magnet Vacuum Melting Furnaces, May 7, 2026: a share exceeding 70 percent in each of its continuous furnace lines, up to 12 units a year from the new line, orders expected to roughly triple year on year.

  7. eCFR, 48 CFR 252.225-7052, Restriction on the Acquisition of Certain Magnets, Tantalum, and Tungsten, effective for magnets January 1, 2027.

  8. Rare Earth Exchanges, Aerospace Industries Association Warns 2027 Minerals Deadline Outpaces Defense Supply, October 8, 2026, reporting the Aerospace Industries Association's assessment that aerospace-grade U.S. processing and magnet capacity is not expected until 2028 or later.

  9. Evolution Metals & Technologies, Confirms Delivery of All 57 ULVAC Equipment Containers to Pohang Expansion Site, with Commissioning Under Way, October 28, 2026 (Form 8-K of the same date). Source for the October 28 delivery, commissioning scheduled to begin in November, eight grades holding Tier-1 OEM certifications, 880 MW of power and the 3 GW substation, the Pohang City investment framework of October 27 and the expected US$28 million in grants, the Frank Moon lead-time quote, and the 200-plus attendance confirmations for December 17.

Cautionary Statement Regarding Forward-Looking Statements

This post contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact should be considered forward-looking statements, including without limitation statements regarding: the installation and commissioning of ULVAC equipment at the Pohang facility and the timing of each; the expected expansion of annual magnet production capacity to approximately 10,000 metric tons, including approximately 6,000 metric tons of sintered magnets; the expansion of electrical infrastructure serving the Pohang facility; the Pohang City investment framework and any local government grant funding; the December 17, 2026 event at Pohang; and the effective date and scope of DFARS 252.225-7052. These forward-looking statements are based on management's current expectations, assumptions and projections about future events and trends. They are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including without limitation the risks and uncertainties detailed under the heading "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 20, 2026, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, filed with the SEC on August 17, 2026, and its subsequent filings with the SEC. Except as required by applicable law, the company undertakes no obligation to update any of these forward-looking statements after the date of this post.


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