Startup Hertha Metals Receives US$65 Million Investment From U.S. Government
10/07/2026 - The U.S. Government awarded startup company Hertha Metals with US$65 million in funding to develop construction of the Chalyx plant to produce high-purity iron for American made rare earth magnets, reported the Wall Street Journal.
Rare earth magnets are used in both F-35 jet fighters and missile guidance systems. The Chalyx plant will produce an estimated 10,000 metric tons annually of high-purity iron and steel for American magnet producers, the Wall Street Journal reported.
The U.S. Defense Department’s Industrial Base Analysis and Sustainment program partnered with its Economic Defense Unit made the U.S. investment. The round of funding raised a total of US$133.65 million, reported the Wall Street Journal.
For more information, click here.
The U.S. Defense Department’s Industrial Base Analysis and Sustainment program partnered with its Economic Defense Unit made the U.S. investment. The round of funding raised a total of US$133.65 million, reported the Wall Street Journal.
For more information, click here.
