SerenTech began as a spinout from Queen's University in 2015 and currently has 11 full-time staff.
SerenTech says the grant will enable it to grow to a level that is "absolutely unique in Europe and worldwide"
Professor Peter Nockemann from Queen's University said it is more sustainable to recycle existing magnets than to create new ones by mining ores. "Windmills contain 1.5 tonnes of these magnets so it's very critical for the energy transition towards net zero that these magnets actually get recycled. Andrew Holmes, director of SerenTech, said the grant "validates the significance of magnet recycling in a tight supply market".
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