On 19 October 2026, the European Commission decided to support 77 European clean-technology projects with a total of €3.4 billion. Neo Performance Materials (NPM), the parent company of the Silmet plant, is among the recipients.
NPM is to receive support to establish production of permanent magnets based on rare earth metals in Estonia. The funding is intended to strengthen the resilience of European industry and end raw-material supplies from Russia.
Margus Tsahkna said the support for Silmet’s parent will help the company move away from raw materials from the aggressor state. The photograph with the report is captioned as the NPM magnet factory in Narva.
Source: www.postimees.ee
Neo Performance Materials · rare earth magnets · Silmet Estonia · European Commission funding · clean technology Estonia · critical raw materials