✉news BusinessStartups first seen 13 h ago, last 43 min ago, peak #2
Pentagon Invests in Startup Supplying Metal for Critical Magnets
Original: Pentagon Invests in Startup Aiming to Supply Metal for Critical Magnets
The US Department of Defense has invested in a startup that aims to supply metal used in critical magnets, according to the Wall Street Journal. The move reflects growing Pentagon interest in securing domestic supply chains for magnet materials, which are essential for weapons systems, electronics and electric vehicles and currently rely heavily on foreign sources.
Why now: Concerns over US dependence on foreign supplies of critical magnet materials are driving defense investment in domestic production.
PentagonUS Department of DefenseWall Street Journal
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