Neo Performance Materials
Neo Performance Materials Inc. manufactures advanced industrial materials that are critical to sustainable and efficient technologies, with a global presence in North America, Asia, and the EU. The company is listed on the Toronto Stock Exchange under the ticker symbol 'NEO'.
Company Overview
Neo Performance Materials manufactures advanced industrial materials that serve as the building blocks of many modern technologies. These materials are crucial for technologies that deliver enhanced efficiency and sustainability. The company operates globally, with facilities in North America, Asia, and the EU, playing a vital role in reducing air and water pollution, improving fuel economy, increasing energy efficiency, and cutting greenhouse gases.
Global Manufacturing Footprint
Neo Performance Materials has a highly efficient and wide-reaching manufacturing footprint, with facilities situated in North America, Asia, and the EU. One of the notable facilities includes the Sillamäe plant in Estonia, which is the only commercial rare earth separations and rare metal processing plant operating within the European Union. Another key facility is the Magaquench production plant in Korat, Thailand, recognized for its sustainability programs.
Sustainable Practices
Neo prioritizes sustainable manufacturing practices, such as recycling and feedstock recovery. Their dedication to environmental, social, and governance performance is detailed in their most recent Sustainability Report for 2022. The Magnequench plants in Thailand and China have been awarded Gold and Silver medals by EcoVadis for their sustainability programs, indicating Neo's commitment to eco-friendly operations.
Business Divisions
Neo Performance Materials is comprised of four primary businesses: Magnequench, Chemicals & Oxides, Rare Metals, and Water Purification. Magnequench specializes in bonded neodymium-iron-boron magnetic powders. Chemicals & Oxides produce materials used in various applications such as environmental catalysts and petroleum refining. Rare Metals handles niche metals and their compounds, while the Water Purification division focuses on improving dewatering and reducing sludge volumes.
Product Innovation
Neo places a strong emphasis on product innovation, with 15-20% of its revenue coming from products that did not exist five years ago. The company’s advanced materials enable a range of technologies with properties such as magnetic, catalytic, luminescent, electrochemical, thermal stability, and superconductivity. These innovations support applications in renewable energy, energy-efficient lighting, and electric vehicle traction motors.