Solcoa Industries, a US rare earth metals producer, has raised $75 million in financing to expand its production capacity and build Solcoa One, its first commercial-scale rare earth metallization plant.
The financing includes $45 million in equity led by Bain Capital Ventures, with participation from Gigascale Capital, Long Journey, Felicis and Dylan Field. A further $30 million in debt and equipment financing was anchored by J.P. Morgan. The company announced the financing on September 24, 2026.
Solcoa plans to use the capital for the construction and commissioning of Solcoa One, expansion of reactor manufacturing in Alameda, California, and growth of its engineering and research teams. The planned Nevada facility is designed to produce 500 tonnes of neodymium-praseodymium (NdPr) and samarium metal annually, with commissioning targeted for 2027.
Founded in 2025, Solcoa is headquartered in Alameda, California. The company was founded by Hooman Reza Nezhad and Artem Iurkovskyi. It develops processes for converting rare earth feedstocks into metals used in applications including electric motors, robotics, energy systems and defense equipment.
Solcoa says it develops halide-free chemistries and designs and builds its own modular reactors. Its existing Alameda operation produces NdPr and samarium metal, with the company reporting current production capacity of about 10 tonnes per year.
