Solcoa raises $75M for California rare earth metal plant

Solcoa Industries has raised $75 million to build Solcoa One, a commercial rare earth metallization plant in California with a planned annual capacity of 500 tonnes. Operations are targeted for July 2027, with $45 million in equity led by Bain Capital Ventures and $30 million in debt anchored by JPMorgan.

• Solcoa One is planned for 500 tonnes of rare earth metals per year
• Operations targeted to begin in July 2027
• $45M equity led by Bain Capital Ventures, $30M debt from JPMorgan
• China controls about 95% of global rare earth metallization capacity