Company:Vulcan Elements

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Vulcan Elements
TypePrivate
IndustryRare earth magnets
Founded2023; 3 years ago (2023)
HeadquartersResearch Triangle Park, North Carolina, U.S.
Key people
  • John Maslin (CEO and founder)
  • Jake Bowles (COO)
  • Piotr Kulik (CTO)
  • Scott Glover (CCO)
Websitevulcanelements.com

Vulcan Elements is a startup manufacturer of rare earth magnets located in Durham, North Carolina.

Production

Vulcan Elements currently produces sintered neodymium magnets.[1][2][3][4] As of October 2025, its production capacity is around 10 metric tons per year.[5]

History

Vulcan Elements was founded in 2023 by former U.S. Navy nuclear propulsion lab financial manager John Maslin, alongside electrical engineer Piotr Kulik, with the intention of competing with rare earth magnet manufacturers based in China.[6][1] Maslin was studying at Harvard University when he started the business.[1]

The company opened its first manufacturing facility on March 31, 2025.[7][1] The opening of the plant was attended by academic, political, and military leaders, including Leonardo Williams, Pat Harrigan, Chris Miller, and Nadia Schadlow.[3][7][8]

In August 2025, the company raised $65 million at a $250 million total valuation, with investors including Altimeter Capital, One Investment Management, and 1789 Capital.[6][9][10][11][12] It had also secured orders from the U.S. military.[6][13]

Key people

John Maslin is the CEO and founder. Jake Bowles is COO. Piotr Kulik is CTO. Scott Glover is CCO.[14]

Supply chain

Vulcan Elements aims to source its materials and equipment exclusively from companies that are based in the United States and whose supply chains do not involve business entities based in China.[3][6] Companies in their supply chain include ReElement Technologies in Indiana and Consarc in New Jersey.[3][15][16]

Facilities

The company's primary facility for both manufacturing and research and development (R&D) is located in the Research Triangle Park in North Carolina.[1] The facility interior encompasses 21,000 sq ft (2,000 m2) and is equipped with a Consarc strip casting furnace.[3] Its process is validated by the Ames Laboratory.[6]

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 Gordon, Brian (2025-04-16). "Triangle startup says it has an answer to America’s rare earth magnet problem". https://www.newsobserver.com/news/business/article303320216.html?mrfhud=true. 
  2. ↑ Lázaro, Isbel (2025-08-14). "The Vulcan Elements rare earth magnet plant" (in en-US). https://inspenet.com/en/noticias/meet-vulcan-elements-rare-earth-magnet-plant/. 
  3. ↑ 3.0 3.1 3.2 3.3 3.4 "Vulcan Elements Opens Pilot Plant for Producing Rare Earth Magnets; Consarc Strip-Casting Furnace Installed" (in en-US). 2025-08-05. https://magneticsmag.com/vulcan-elements-opens-pilot-plant-for-producing-rare-earth-magnets-consarc-strip-casting-furnace-installed/. 
  4. ↑ Stutt, Amanda (2025-08-22). "Vulcan Elements enters US rare earth magnet manufacturing race" (in en-US). https://www.mining.com/vulcan-elements-enters-us-rare-earth-magnet-manufacturing-race/. 
  5. ↑ Price, Jay (2025-10-14). "U.S. works to secure rare earth supply chain as China tightens grip amid trade war" (in en). NPR. https://www.npr.org/2025/10/14/nx-s1-5565108/u-s-works-to-secure-rare-earth-supply-chain-as-china-tightens-grip-amid-trade-war. 
  6. ↑ 6.0 6.1 6.2 6.3 6.4 Judson, Jen. "Vulcan Elements wins Pentagon deals as $65M round fuels expansion". Defense News. https://www.defensenews.com/industry/2025/08/25/vulcan-elements-wins-pentagon-deals-as-65m-round-fuels-expansion/. 
  7. ↑ 7.0 7.1 "Vulcan Elements Holds Grand Opening of Small-Scale Commercial Manufacturing and R&D Facility: March 31, 2025" (in en-US). 2025-04-03. https://www.auvsi.org/news/vulcan-elements-holds-grand-opening-of-small-scale-commercial-manufacturing-and-rd-facility-march-31-2025/. 
  8. ↑ "Vulcan Elements Holds Grand Opening of Small-Scale Commercial Manufacturing and R&D Facility" (in en-US). 2025-03-31. https://vulcanelements.com/vulcan-elements-holds-grand-opening-of-small-scale-commercial-manufacturing-and-rd-facility/. 
  9. ↑ Massa, Annie (2025-08-26). "Malik’s 1789 Said to Back Defense, Rare-Earth Magnet Startups". https://www.bloomberg.com/news/articles/2025-08-26/malik-s-1789-said-to-back-defense-rare-earth-magnet-startups. 
  10. ↑ Miao, Hannah. "Rare-Earth Magnet Maker Raises $65 Million in Push to Counter China". https://www.wsj.com/business/rare-earth-magnet-maker-raises-65-million-in-push-to-counter-china-85ea8612?gaa_at=eafs&gaa_n=ASWzDAh14sDPAte3CCY1cHSir-sHwEbRIJ0mtkS1KGAie9eoxoJvQkbIIejsrjoWaPk%3D&gaa_ts=68ba346a&gaa_sig=g0ylGRa77I-vTAwOvzzZ76Bl7-7vxandg5HBPN7ljX8ZKPoAtfwzo1YBg9x0HY9wouml-IjUX4sNhACmfDZ_zQ%3D%3D. 
  11. ↑ Gordon, Brian. "Triangle firm raises $65 million to combat China's control of rare earth magnets". The News and Observer. https://www.newsobserver.com/news/business/article311661782.html. 
  12. ↑ "Vulcan Elements Announces $65 Million Series A, and Produces High-Performance Rare Earth Magnets in the United States" (in en-US). 2025-08-12. https://www.auvsi.org/news/vulcan-elements-announces-65-million-series-a-and-produces-high-performance-rare-earth-magnets-in-the-united-states/. 
  13. ↑ Primack, Dan; Demarest, Colin. "Vulcan raises $65 million to onshore rare-earth magnets". https://www.axios.com/2025/08/11/vulcan-elements-rare-earth-magnets-drones. 
  14. ↑ "Rare Earth Magnets for a Resilient Future" (in en-US). 2024-06-21. https://vulcanelements.com/. 
  15. ↑ "Vulcan Elements secures non-Chinese rare earth supply from ReElement". https://www.mining-technology.com/news/vulcan-elements-non-chinese-rare-earth-supply-reelement/. 
  16. ↑ "Vulcan Elements signs rare earths supply deal with ReElement Technologies". https://www.reuters.com/markets/commodities/vulcan-elements-signs-rare-earths-supply-deal-with-reelement-technologies-2025-08-18/. 

[ ⚑ ] 35°55′46.3116″N 78°52′20.5212″W / 35.929531°N 78.872367°W / 35.929531; -78.872367




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