Tsahkna: Funding for Neo Performance Materials will help to end dependence on raw materials from the aggressor state

Today, 19 October, the European Commission decided to provide a total of €3.4 billion in funding to 77 European net-zero technology projects. Among the recipients is Neo Performance Materials (NPM), which owns the NPM Silmet plant. NPM will receive funding to establish the production of rare-earth permanent magnets in Estonia. This will help strengthen the resilience of European industry and end supplies of raw materials from Russia.