Noveon Raises $215 Million To Expand

Noveon Magnetics raised $215 million in 2025 to expand U.S. rare-earth magnet production, the Wall Street Journal reports, with roughly $200 million reportedly coming from One Investment Management led by Rajeev Misra. The funding joins record VC investment and government-supported deals aimed at reshoring supply chains, but officials caution that scaling magnet manufacturing and reducing reliance on Chinese producers will take years, limiting immediate supply relief.