QUB Spin-Out Ionic Technologies Bids for £89m Magnet Recycling Plant That Could Make Belfast a Hub for Critical Minerals
Ionic Technologies, a spin-out company from Queen's University Belfast, has submitted a formal planning application for a £89 million commercial-scale rare earth magnet recycling facility at Harland Road in the Titanic Quarter's Channel Commercial Park — a project that would create 55 new jobs, process 1,200 tonnes of magnet scrap annually, and position Belfast as a significant player in the global critical minerals supply chain.
Background
Rare earth elements — specifically neodymium, praseodymium, dysprosium, and terbium — are essential components of the permanent magnets used in electric vehicle motors, wind turbines, and defence technologies. The global supply of these materials is heavily concentrated in China, which controls the vast majority of both mining and processing capacity. This concentration has become a significant strategic concern for Western governments, which are increasingly seeking to develop domestic or allied supply chains for critical minerals as part of their broader industrial and defence strategies.
Ionic Technologies, formerly known as Seren Technologies, was established to commercialise research developed at Queen's University Belfast into hydrometallurgical processes for separating individual rare earth elements from end-of-life permanent magnets and manufacturing waste. The company's approach creates a circular economy for rare earth materials, recovering valuable elements from discarded products — such as old electric vehicles and wind turbine components — rather than relying on new mining. This recycling model is aligned with both the EU's Critical Raw Materials Act and the UK's Critical Minerals Strategy.
The company currently operates a demonstration plant capable of processing 30 tonnes of magnet waste per year. The proposed commercial facility at Harland Road would represent a 40-fold increase in capacity, scaling up to 1,200 tonnes of magnet waste annually and producing 400 tonnes of separated, high-purity rare earth oxides per year. The site at Harland Road is significant — it sits within the historic Harland and Wolff shipyard complex, where the Titanic was built, and its redevelopment for advanced manufacturing would represent a continuation of the area's industrial heritage in a thoroughly modern form.
Key Developments
The planning application submitted by Ionic Technologies covers a 116,000 square foot facility at Harland Road in the Channel Commercial Park. The project has a total investment value of £89 million, of which £12 million has been secured through a grant from the UK government's Department for Business, Innovation, Science and Trade under the DRIVE35 programme. The company previously received £1.72 million from Innovate UK's Automotive Transformation Fund. The remaining balance is expected to be met through private sector investment, with the company in active discussions with potential investors.
The facility is designed to produce 400 tonnes of separated, high-purity rare earth oxides per year — materials that are critical for the manufacture of electric vehicle motors and wind turbine generators. The economic impact assessment submitted with the planning application estimates that the project will contribute approximately £11 million annually in net additional Gross Value Added to the Northern Ireland economy, in addition to the 55 new jobs created directly and 25 existing roles safeguarded.
The project has received strong support from Invest NI and from the Department for the Economy, which has identified rare earth recycling as a priority area for Northern Ireland's advanced manufacturing sector. Queen's University Belfast has also expressed its backing, noting that the project represents a successful example of the commercialisation of academic research.
Why It Matters
The Ionic Technologies project matters for several reasons that extend well beyond the immediate economic impact. Northern Ireland has been seeking to develop a credible advanced manufacturing sector that can compete for high-value investment in the global green economy, and a facility of this scale and strategic significance would represent a genuine breakthrough. The rare earth recycling sector is at an early stage of development globally, and a commercial-scale plant in Belfast would place Northern Ireland at the forefront of an industry that is expected to grow significantly as the transition to electric vehicles and renewable energy accelerates.
The project also demonstrates the value of the university-industry pipeline that Queen's University Belfast has been developing. Ionic Technologies is the kind of deep-tech spin-out that universities aspire to produce — one that takes fundamental research and translates it into a commercially viable business with real-world impact. The fact that it is seeking to locate its commercial facility in Belfast, rather than moving to a larger city or a different jurisdiction, is a positive signal for Northern Ireland's ability to retain the companies it generates.
Local Impact
The Titanic Quarter location is particularly significant. The Channel Commercial Park at Harland Road is part of the ongoing redevelopment of the former shipyard site, and the arrival of a high-tech manufacturing facility would add a new dimension to an area that has so far been dominated by tourism, media, and office development. The 55 new jobs would be in skilled technical roles — chemical engineers, process technicians, laboratory analysts — that offer career pathways for graduates from Queen's University Belfast and Ulster University. The project would also create supply chain opportunities for local businesses in areas such as logistics, maintenance, and specialist services. Belfast City Council has been briefed on the application and is expected to be supportive, given the project's alignment with the city's economic development strategy.
What's Next
The planning application is now with Belfast City Council for determination. The company has indicated that it hopes to receive planning permission by early 2027, with construction beginning in the spring of that year and the facility becoming operational by the end of 2027. Ionic Technologies is continuing its fundraising process to secure the private sector investment needed to complement the government grant. The company has also indicated that it is in discussions with potential customers in the electric vehicle and wind energy sectors who are seeking to secure long-term supply agreements for recycled rare earth materials.
