Momentum Backs Current Chemicals’ 1,000-Metric-Ton Fluoride Goal

By Grace Kim

Current Chemicals is working toward at least 1,000 metric tons of annual rare-earth fluoride output, the capacity goal of the Cleveland-based specialty chemicals and materials manufacturer as it receives additional investment from lead shareholder Momentum Global Ventures.

What will the additional investment fund?

Current Chemicals said Momentum Global Ventures’ additional capital will support manufacturing equipment, infrastructure improvements and engineering staff. The expansion will use the company’s existing Cleveland infrastructure and process expertise to increase output of neodymium fluoride, dysprosium fluoride and other specialty materials.

The company said it is among a limited number of U.S. manufacturers with the capability to convert separated rare-earth oxides into fluoride compounds used in the production of rare-earth metals. Current Chemicals said that position makes it an important part of the domestic rare-earth supply chain.

Its Ivanhoe Road facility also makes high-purity specialty chemicals and LED phosphors. The capital is aimed at adding volume to a processing operation the company already runs in Cleveland.

Bill Cohen, Ph.D., CEO and chairman of Current Chemicals, said:

“Demand for these fluorides is accelerating as upstream rare-earth supply expands and downstream magnet, coating, and alloy production grows, and this investment lets us scale quickly using the infrastructure and process expertise we already have in Cleveland.”

“This added volume is an important step toward our goal of 1,000 metric tons of annual capacity and beyond.”

“Momentum Global Ventures shares our vision of building a reliable, high-quality source of these critical materials for a resilient supply chain serving manufacturers across North America and Europe.”

Which rare-earth fluorides will Cleveland produce?

Current Chemicals’ manufacturing portfolio puts two fluorides at the center of the expansion:

• Neodymium fluoride and dysprosium fluoride, which the company plans to produce in greater volume at its Cleveland facility.
• Terbium, gadolinium, yttrium, scandium, lanthanum and lithium fluorides, which make up the rest of its stated fluoride portfolio.

Current Chemicals said these materials support production of high-performance permanent magnets, advanced coatings and industrial alloys used across various industries. Neodymium and dysprosium are particularly important in certain magnets used in electric motors, wind turbines and defense equipment.

Why does domestic processing capacity matter?

Rare-earth fluoride processing is an intermediate step between separating rare-earth oxides and producing the metals used by manufacturers. Current Chemicals said the United States has been investing in mining and separation capabilities, while much of the global downstream processing infrastructure remains concentrated in China.

The company views domestic conversion capacity as a significant opportunity as manufacturers seek to diversify their supply chains. It plans to increase output to support a growing base of North American and European manufacturers.

It also identified U.S. defense sourcing requirements scheduled to tighten in January 2027 as another factor supporting domestic production demand. The scheduled change and manufacturers’ push to diversify underpin the company’s case for more domestic conversion capacity.

What does the Cleveland operation bring?

Current Chemicals has operated at its Ivanhoe Road facility in Cleveland for more than 75 years, originally as part of General Electric. Its production activities include rare-earth fluorides, high-purity specialty chemicals and LED phosphors.

Customers operate in markets including defense, aerospace, semiconductors and lighting. The additional investment builds on established manufacturing capabilities while helping address an important processing stage within the rare-earth materials supply chain.

Pieter Six, asset director at Momentum Global Ventures and board member of Current Chemicals, said:

“The world needs these critical materials, and demand is enormous. Investing again shows our long-term commitment to CCI and to a secure domestic supply chain.”

The next test is whether Current Chemicals can turn the added capital into at least 1,000 metric tons of annual capacity as manufacturers diversify their supply chains and U.S. defense sourcing requirements tighten in January 2027.