Erma - rare earth elements are the driving force for the electrification of the automotive industry and European Strategic Autonomy.
Recognizing the strategic importance of rare earth elements (REE) in promoting the electrification of the automotive industry and European Strategic Autonomy, the French government announced a 15 million euro recovery fund for carester, which was promoted. Founded in 2019, the company is an active partner of Erma and has ambitious plans to build a 56 million euro plant to extract and recover rare earths from permanent magnets.
"Our goal is to recycle all kinds of waste magnets containing rare earth elements and produce separated rare earth oxides. We will produce raw materials with magnets of the same quality as the original magnets. This means that we can recycle as much as possible without affecting the quality. "
Fr é D é ric cararencotte, CEO and founder of carester
This year, fr é D é ric carrencote's plan is to optimize the recycling process and enter the next round of investment to expand production capacity. The target of 300 tons of discarded rare earth elements and carester is 300 tons.
Real green rare earth recovery process made in Europe
The Carter team is developing a world-class recycling facility to achieve a truly green process in Europe without producing any liquid wastewater. The new recycling process will reduce carbon dioxide emissions by at least 30% and water consumption by 80%. In addition, the French based company will also recycle the currently discarded boron.
Carter seeks additional financial support to introduce a new recycling process. This year, the company has successfully completed the financing and plans to raise 20 million euros in 2022. With the expansion of external funds, Chester realized the need for a strong network. As a partner of Erma, Carter is part of a mature and large network of more than 500 stakeholders.
Erma provides a valuable link for all participants in the value chain. We are open to the disposal of waste materials, from rare earth containing rotors to rare earth concentrates in production waste. For us, this network is very important for us to obtain raw materials for the production process. "
Fr é D é ric cararencotte, CEO and founder of carester
In order to reduce Europe's dependence on the supply of key raw materials and increase strategic autonomy, we need to ensure that magnets still exist at the end of Europe's life. It is vital that they stay in Europe, allowing recycling and bringing valuable materials back to recycling. Therefore, we need a series of regulatory actions to support the industry.
Fr é D é ric cararencotte stressed the need to adjust existing regulatory actions. At present, magnets and batteries are considered to be the applications of electric vehicles. Great progress has been made in battery regulation, which can be re applied to the demand of magnet value chain.
European Union to ensure the supply of raw materials for a green economy
Since the establishment of the European raw materials Alliance (Erma) under the first rare earth magnet and motor cluster in 2020, the alliance has been working with European policymakers to emphasize the strategic importance of rare earth to the vision of EU green economy and decarbonization transportation network. Erma uses two approaches, identifying and addressing regulatory bottlenecks and identifying public and private funds for industry-leading projects in the industry.
"We are very pleased that carester has received support in this important project. This clearly shows that Erma's information on the importance of ensuring the future supply of rare earths in Europe is being supported. "
Bernd Sch ä fer, CEO and managing director, EIT raw materials
As the management entity of Erma, EIT raw materials will support Carter to determine further funding sources for the project, so as to contribute to the sustainable and recycling supply of rare earth resources in Europe. The idea is to screen various financing plans in Europe at the level of the EU and Member States. In addition, a raw material investment platform has been established to seek to support potential investment cases through venture capital.