EM&T Secures 750 MW Power Deal to Scale Magnet Output to 10,000 Tons
EMAT sits 62% above its 52-week low of $2.15 on elevated volume (3.1× avg).
Summary
EM&T announced principal terms with KEPCO to expand power capacity at its Pohang operations from 130 MW to 750 MW, a nearly six-fold increase. The company also plans to acquire 1.3 million square feet of adjacent land and expand its magnet manufacturing facility from 24,000 to 482,000 square feet. This infrastructure supports scaling rare earth magnet production from 1,000 to 10,000 metric tons annually by end of 2026. A conditional $20.7 million grant from Pohang City and Gyeongbuk Province is pending property acquisition. KEPCO is expected to fund about 90% of substation, cabling, and civil works costs. The expansion aligns with EM&T's non-China supply chain strategy and follows recent supply agreements and Q2 results. Power availability is planned for November 2026, coinciding with ULVAC equipment installation.
At the time of this announcement, EMAT was trading at $3.49 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $2.1B. The 52-week trading range was $2.15 to $24.37. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.