Together with support, the metal industry company Freen OU is investing 5.9 million euros to expand its factory in Kohtla-Jarve and start the production of wind turbines; the joint agency of Kredex and Enterprise Estonia (EAS) is supporting the project with 2.6 million euros from the funds of the European Union's Just Transition Fund (JTF).
Neo Magnequench, a division of Neo Performance Materials, has broken ground on a new plant in Narva, Estonia to mine for raw materials that produce sintered neodymium-iron-boron magnets. The magnets are in high demand from makers of electric vehicles, wind turbines, and other clean energy verticals.
Plant will support circular economics by recycling end-of-life magnets and recovering magnet 'swarf' created in the manufacturing process Phase 1 production of 2,000 tonnes/year is slated to begin in 2025, an
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