Ionic Technologies has submitted plans for a proposed £89m magnet recycling and refining facility in Belfast that would create 55 new jobs and safeguard a further 25.
The proposed 10,798 sq m facility would be built on a vacant, previously developed site at Harland Road in Channel Commercial Park, Belfast.
The £89m investment in Titanic Quarter would include a recycling and refining plant, offices, car parking, landscaping and associated site infrastructure.
If approved, it would expand Ionic Technologies’ existing Belfast operation.
The plant would recover, separate and refine rare-earth elements from end-of-life magnets and manufacturing waste, producing high-purity rare-earth oxides for use in electric vehicles, wind turbines and advanced manufacturing.
Rare-earth materials are critical to these industries, yet supply remains concentrated in international markets and exposed to long supply chains.
Ionic Technologies says the facility would help build a more secure and circular domestic supply of these materials.
An economic impact assessment submitted with the application estimates that the 30-week construction phase could support the equivalent of around 275 full-time construction jobs and generate £19.6m in GVA [gross value added] across Northern Ireland.
Once operational, the facility is projected to contribute around £11m a year in net additional GVA to the Northern Ireland economy and approximately £325,000 a year in non-domestic rates.
The proposal builds on research originating at Queen’s University Belfast and more than a decade of technology development by Ionic Technologies.
The scheme is planned for a seven-acre brownfield site in Belfast’s historic docklands, close to the Samson and Goliath cranes.
Its industrial design has been developed to sit alongside the character of the surrounding area and protect key views of the landmark structures.
Tim Harrison, Managing Director of Ionic Rare Earths, said the proposal reflected the group’s confidence in Belfast and Northern Ireland.
“Submitting this application is an important step towards a major long-term investment in Belfast, built around technology developed locally,” he said.
“Subject to approval, the facility would create highly skilled jobs, support advanced manufacturing and return rare-earth materials already in circulation to the supply chain.”
He added: “This is a practical opportunity for Northern Ireland to develop capability in a strategically important sector, reflecting our confidence in Belfast as a base for developing a sustainable and secure supply of rare-earth materials for UK and international customers.”
Ionic Technologies is a Belfast-based advanced-materials company and a wholly owned subsidiary of Ionic Rare Earths Limited.
The company has received an Offer in Principle for a £12m capital grant from the UK Government’s Department for Business, Innovation, Science and Trade (BIST) towards the proposed facility. The offer, made in partnership with the Advanced Propulsion Centre (APC) UK as part of the Automotive Transformation Fund DRIVE35 programme, remains subject to relevant conditions and approvals.
The planning application, accompanied by environmental, transport and economic assessments, has been submitted to Belfast City Council.