The drive for sovereign, eco-friendly manufacturing in Europe just gained new momentum. HIT Mag, an industrial startup developing permanent magnets without rare-earth materials, has secured $1.6M in funding to advance its mission.
The company promises to produce innovative, high-performance magnets in Europe at prices competitive with Asian alternatives. Leveraging a dual innovation in both material and process, HIT Mag aims to change the paradigm of permanent magnet production and usage, offering more sustainable solutions to the market.
