Noveon Magnetics Inc.

Noveon Magnetics Inc. , based in Austin, US, specializes in developing and manufacturing advanced EcoFlux magnets to improve electrification efficiency across various industries. Founded in 2014, Noveon Magnetics Inc. focuses on innovative magnetic solutions.

In January 2026, Noveon Magnetics Inc. raised USD 215 million in series C funding led by One Investment Management. The CEO, Scott Dunn, leads a team that continues to evolve within the growing demand for sustainable technologies. Noveon Magnetics specializes in the development and manufacture of EcoFlux magnets, designed to enhance efficiency across mobility, renewable energy generation, and other critical sectors.

These next-generation magnets utilize proprietary technology to minimize reliance on rare earth elements and reduce energy consumption during production. Noveon's customer base includes electric vehicle manufacturers and renewable energy companies, focusing on North America, Europe, and Asia. Noveon Magnetics generates revenue through direct sales of EcoFlux magnets to industrial clients and manufacturers. The firm primarily engages in B2B transactions, facilitating bulk orders tailored to client specifications.

Partnerships with key players in the electric vehicle and renewable energy sectors may involve long-term supply agreements, offering volume-based pricing for larger orders. Specific revenue figures associated with the EcoFlux product line have not been disclosed. The company plans to utilize the January 2026 funding to greatly expand its magnet production capabilities for use in automotive, artificial intelligence, and defense sectors.