HyProMag was founded in 2018 by the late Professor Emeritus Rex Harris, former Head of The Magnetic Materials Group (“MMG”) within the School of Metallurgy and Materials at the University of Birmingham; Professor Allan Walton, current Head of the MMG; and two Honorary Fellows, Dr John Speight and Mr David Kennedy, leading world experts in the field of rare earth magnetic materials, alloys and hydrogen technology, with significant industry experience.

Following a transaction completed in August 2023, HyProMag is 100% owned by Maginito Limited, a 90% owned subsidiary of UK and Canada listed, Mkango Resources Ltd (TSXV/AIM:MKA). The core technology being commercialised by HyProMag is the highly energy efficient, patented Hydrogen Processing of Magnet Scrap (“HPMS”) technology to extract and demagnetise NdFeB (neodymium iron boron) alloy powders from magnets embedded in scrap and redundant equipment.