IMA participates in the NANOPYME Project of the European Union

IMA Magnet Factory participates in the NANOPYME project that brings together 11 institutions from 6 countries in order to design and develop permanent magnets capable of replacing in certain technological applications to current magnets, due to frequent fluctuations in the prices of rare earths and the absence of the corresponding natural resources in Europe. The project was funded with 3.5M € from the European Union, it's part of the 7th Framework Programme and is led by IMDEA Nanoscience Institute of Madrid.

The project aims to establish a knowledge model in Europe and open up the world market of permanent magnets to EU countries with a prominent leadership position. NANOPYME will use the knowledge gained in nanoscience in combination with an energy-efficient processing technology to develop competitive next-generation permanent magnets.

IMA will work during 3 years with prestigious institutions such as the IMDEA Nanoscience Foundation, the Interuniversity Consorzio Nazionale per la Scienza e Tecnologia dei Materiali, IFE Institutt for Energiteknikk Norwegian or Arhaus Universitet in Denmark. The market for permanent magnet currently moves over 9 billion dollars a year worldwide and is estimated to reach 14 billion by 2020. IMA wants to have a relevant role in this sector. Actually exports to 60 countries and their goal is to continue expanding their international presence.