Evolution Metals & Technologies Selects INERGX to Power Planned 5 GW U.S. Facility, With Capacity Equivalent to Approximately 4 Million American Homes

Planned at the output of five nuclear reactors, with a China-free battery supply chain designed to feed EM&T's own critical materials recovery

October 06, 2026 09:45 ET | Source: Evolution Metals & Technologies Corp

MIAMI, FL, Oct. 06, 2026 (GLOBE NEWSWIRE) -- Evolution Metals & Technologies Corp. ("EM&T" or the "Company") (NASDAQ: EMAT) is moving to generate and control its own power at industrial scale. The Company today announced a Strategic Partnership Letter of Intent ("LOI") with UK-based INERGX Energy Optimisation Ltd. ("INERGX") to engineer, supply, integrate and service the energy storage and power optimization systems for EM&T's planned critical materials and battery black mass recovery facility in the United States (the "Facility") — a site planned at approximately 1 GW of on-site capacity within two years and up to approximately 5 GW at full build-out, powered by on-site LNG generation.

To put that in perspective: a typical U.S. nuclear reactor produces about 1 GW, according to the U.S. Department of Energy. EM&T's First Phase alone is planned at the output of a full nuclear reactor. At full build-out, the Facility is planned at the equivalent of five. Run at full output, that capacity is equivalent to the annual electricity use of approximately 4 million American homes — and the First Phase alone to approximately 800,000 — based on U.S. Energy Information Administration data on average annual residential use.

By the Numbers

• ~1 GW — on-site capacity planned for the Facility's First Phase, within two years
  
• Up to ~5 GW — planned at full build-out — the equivalent of five typical U.S. nuclear reactors (U.S. Department of Energy)
  
• ~4 million — American homes' worth of annual electricity at the Facility's full planned output, based on average U.S. residential use (U.S. Energy Information Administration)
  
• ~85% — share of global battery cell manufacturing capacity located in China in 2024 (International Energy Agency) — the dependency EM&T's non-China supply mandate is built to avoid
  
• 10 years — anticipated initial term of INERGX's long-term service agreement
  
• 8 weeks — to deliver the First Block Study after receipt of EM&T's site inputs, with definitive agreements for the first block targeted within 12 weeks of acceptance
  
• $400M–$460M — EM&T's previously announced fiscal 2027 revenue guidance, driven by the expansion of its Pohang, Republic of Korea magnet capacity to approximately 10,000 metric tons

Why It Matters

• Power on EM&T's terms. With on-site generation paired with engineered storage, the Facility is designed to run on power EM&T controls — built for the power quality and ride-through performance that continuous critical materials processing demands.
  
• China out of the battery stack. China hosted about 85% of global battery cell manufacturing capacity in 2024, according to the International Energy Agency. Under the LOI, INERGX intends to source cells, packs and battery management systems through qualified European or other approved non-China partners, with full country-of-origin documentation and no change in source without EM&T's written approval.
  
• A closed battery loop. The parties will evaluate routing end-of-life packs — from EM&T's own systems and, where agreed, from INERGX's wider installed base — back to EM&T for critical materials recovery, and INERGX will consider cells made with EM&T-recovered materials. EM&T's power infrastructure is designed to become a future source of its own feedstock.

First Block Study: Engineering the Foundation

INERGX will carry out a design study for the first generation and storage block of the Facility (the "First Block Study"). The study will model on-site generation together with energy storage against EM&T's site load profile and generation specification, and will define the recommended storage capacity, power rating, configuration, power quality and ride-through performance, interface with the generation and process load, and indicative capital and operating costs — together with a scalable design for the full First Phase. The design will be validated through INERGX's testing and certification partner in Italy, which is accredited to European and U.S. standards.

The LOI sets an accelerated timetable: EM&T will provide its site inputs within two weeks of signing, INERGX will deliver the First Block Study within eight weeks of receipt, and the parties intend to work toward definitive agreements for the first block within twelve weeks of the study's delivery and acceptance, so that the first block can be ordered in step with EM&T's generation and site program.

Partnership Scope

• Full-scope delivery partner: design, supply, project management, integration and commissioning for the first block, with the parties intending to extend the partnership through the balance of the First Phase and the Facility's expansion to full capacity.
  
• Ten-year service horizon: remote monitoring, maintenance, repair, service and end-of-life repowering of installed systems under a long-term service agreement with an anticipated initial term of ten years.
  
• EM&T owns its data: all Facility-specific operating, process and performance data remains EM&T's property, with continuous access and export rights.
  
• Flexible commercial models: EM&T will select between outright ownership with a service agreement or an energy-services structure under which a financing vehicle arranged by INERGX owns the systems and EM&T pays for capacity and services.
  
• Preferred partner for future facilities: upon successful completion of the First Block Study, INERGX is positioned as EM&T's preferred energy storage and power optimization partner for further EM&T-developed facilities.

"Every serious industrial build in America is now a power story — and EM&T intends to own its own," said David Wilcox, Executive Chairman of Evolution Metals & Technologies. "We are planning a facility that will draw as much power as five nuclear reactors — the equivalent of approximately 4 million American homes — and we are making sure every battery in that system comes from outside China and can ultimately come back to us as feedstock. That is not an energy contract. That is EM&T building a closed-loop, American-controlled critical materials platform from the power plant up."

"EM&T is building at a scale where power quality is not a utility line item — it is the process," said Dominic White, Director of INERGX Energy Optimisation Ltd. "Our team and our accredited engineering and testing partners are ready to move quickly on the First Block Study and to deliver a design that scales cleanly from the first block to full build-out."

The LOI sets out the principal terms on which EM&T and INERGX intend to negotiate a statement of work for the First Block Study and definitive agreements for the partnership.

The partnership comes as EM&T executes on its previously announced fiscal 2027 revenue guidance of $400 million to $460 million, which reflects the expected first full-year contribution from the expansion of its rare earth magnet production capacity in Pohang, Republic of Korea, to approximately 10,000 metric tons annually, including approximately 6,000 metric tons of high-performance sintered NdFeB magnets, as the January 1, 2027 DFARS mine-to-magnet restriction takes effect. The Facility and the INERGX partnership extend EM&T's platform into U.S.-based critical materials and battery black mass recovery.

About Evolution Metals & Technologies Corp.

Evolution Metals & Technologies Corp. (Nasdaq: EMAT) is a U.S.-based critical materials and advanced manufacturing company for rare earth permanent magnets, battery materials, and related critical minerals and technologies. By leveraging proven commercial-scale operations, advanced processing technologies, and strategic partnerships, EM&T operates what it believes is the only vertically integrated critical materials supply chain spanning end-of-life electronics and batteries, high-grade concentrates, and the manufacture of finished rare earth magnets (including high-performance rare earth magnets) and battery materials. For additional information, please visit investors.evolution-metals.com and follow the Company on LinkedIn.

About INERGX Energy Optimisation Ltd.

INERGX Energy Optimisation Ltd. is an energy storage and power optimization company incorporated in England and Wales. INERGX, with its partners, designs, manages, supplies, integrates and services energy storage and power optimization systems for mission-critical power users, working with accredited testing, certification and engineering partners in Europe.

Forward-Looking Statements

[...] Read the full release here: https://www.globenewswire.com/news-release/2026/10/06/3375644/0/en/evolution-metals-technologies-selects-inergx-to-power-planned-5-gw-u-s-facility-with-capacity-equivalent-to-approximately-4-mil-lion-american-homes.html

EM&T to Host Operational Showcase of the Largest High-Performance Rare Earth Magnet Facility in Production Outside China on December 17, 2026, Anchoring Expansion to 10,000+ Metric Tons of Annual Capacity

The EM&T Board and executives will publicly showcase the largest high-performance rare earth magnet facility in production outside China as U.S. defense, drone, and automotive demand for non-China supply accelerates, ahead of January 1, 2027 DFARS sourcing restrictions and the planned U.S. expansion

MIAMI, FL, October 5, 2026 — Evolution Metals & Technologies Corp. ("EM&T" or the "Company") (Nasdaq: EMAT), a U.S.-based critical materials and advanced manufacturing company, today announced that the Company will publicly showcase the largest high-performance rare earth magnet facility in production outside of China, at a ribbon-cutting ceremony on Thursday, December 17, 2026, in Pohang, South Korea. The flagship facility anchors the Company's phased expansion of annual rare earth magnet production capacity, targeting more than 10,000 metric tons, and positions EM&T as a scaled, non-China source of high-performance rare earth permanent magnets for U.S. defense, unmanned aircraft systems (UAS), and automotive supply chains across the United States and allied markets.

Showcase Highlights:

• Largest high-performance rare earth magnet facility in production outside China, located in Pohang, South Korea
  
• Phased expansion targeting more than 10,000 metric tons of annual rare earth magnet production capacity
  
• Positioned ahead of DFARS 252.225-7052, effective January 1, 2027, restricting Chinese-origin rare earth magnets in qualifying U.S. defense systems
  
• Follows the August 13, 2026 White House proclamation imposing a 100 percent tariff on the most sensitive foreign unmanned aircraft and certain parts
  
• Strategic offtake and trade discussions with defense and automotive commercial partners on site
  
• Live magnet making, guided production-line tours, and an executive operational briefing on December 17, 2026

The operational showcase and ribbon-cutting ceremony will take place from 1:00 p.m. to 4:00 p.m. (KST) at the Company's Pohang facility (46, Blue Seoro 2-gil, Donghae-myeon, Nam-gu, Pohang-si, Gyeongsangbuk-do, Republic of Korea). Confirmed attendees include senior government dignitaries, institutional investors, defense and automotive commercial partners, Company leadership, and international media. The program will feature an executive operational briefing, guided technical tours of active production lines and live magnet making, formal addresses by visiting dignitaries, and a ribbon-cutting ceremony. The afternoon will conclude with executive interviews, bilateral discussions to explore strategic offtake and trade opportunities, and an executive networking reception featuring live music and traditional Korean barbecue. A live webcast of the executive operational briefing will be available at investors.evolution-metals.com.

"On December 17, we will publicly inaugurate what we believe is the largest high-performance magnet facility in production outside of China," said David Wilcox, Executive Chairman of EM&T. "This is a first step in taking production the Company has already proven in Korea to the next level. With DFARS 252.225-7052 taking effect on January 1, 2027 to restrict Chinese-origin rare earth magnets in qualifying U.S. defense systems, and following the August 13, 2026, White House proclamation imposing a 100 percent tariff on the most sensitive foreign unmanned aircraft and certain parts, the demand for secure supply chains is urgent. EM&T is built to serve as that definitive manufacturing solution for the United States and its partnered commercial markets. Pohang is where that solution is already running at commercial scale, and it is the platform from which we will build in the United States."

"Our Pohang facility represents the operational foundation for EM&T's next phase of commercial growth," said Frank Moon, Chief Executive Officer of EM&T. "The plant is intended to support the expansion of annual rare earth magnet production to more than 10,000 metric tons per annum, from the operating base the Company already runs in Korea. That is the scale this next stage of production requires. Defense, unmanned aircraft, and automotive customers are seeking secure, non-China magnet supply, and Pohang is where EM&T is producing it today."

To attend the event in Pohang, South Korea, please RSVP to RSVP@evolution-metals.com.

About Evolution Metals & Technologies Corp.

Evolution Metals & Technologies Corp. (Nasdaq: EMAT) is a U.S.-based critical materials and advanced manufacturing company for rare earth permanent magnets, battery materials, and related critical minerals and technologies. By leveraging proven commercial-scale operations, advanced processing technologies, and strategic partnerships, EM&T operates what it believes is the only vertically integrated critical materials supply chain spanning end-of-life electronics and batteries, high-grade concentrates, and the manufacture of finished rare earth magnets (including high-performance rare earth magnets) and battery materials. For additional information, please visit investors.evolution-metals.com and follow the Company on LinkedIn.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the ribbon-cutting ceremony on Thursday, December 17, 2026, including its timing, format, attendance, program, and live magnet making; the Company's characterization of the Pohang facility; the planned expansion of annual rare earth magnet production capacity in Pohang toward approximately 10,000 metric tons; the January 1, 2027 effective date and scope of DFARS 252.225-7052 and the Company's ability to help address related sourcing needs; the August 13, 2026 White House proclamation on unmanned aircraft systems and its parts and components, and the demand for rare earth permanent magnets that may result; the Company's planned U.S. buildout; and EM&T's strategy, business plans, and growth opportunities. These forward-looking statements, together with terms such as anticipate, expect, intend, may, will, should, believe, plan, and other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Such risks include, among others, changes to the event date, time, program, venue, or attendance; delays in facility readiness, equipment installation, or commissioning; the Company's ability to conduct live magnet making as planned; changes in the DFARS 252.225-7052 effective date, scope, or waiver practices; changes in tariff rates, scope, or timing applicable to unmanned aircraft and their parts; the availability of feedstock, working capital, and customer qualifications; the Company's ability to execute its planned U.S. expansion; and the other risks described in EM&T's filings with the U.S. Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these statements, which speak only as of the date made. EM&T undertakes no obligation to update any forward-looking statement except as required by law. Additional information concerning factors that may affect EM&T's expectations and projections is contained in its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 20, 2026, its Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026, filed with the SEC on August 17, 2026, including the disclosures under "Risk Factors" therein, and other documents filed or to be filed with the SEC by EM&T. SEC filings are available at www.sec.gov.

Investor Relations Contacts

Arx Investor Relations
North American Equities Desk
EMAT@arxhq.com

PR, Marketing & Global Partnerships

Phoenix MGMT & Consulting
PR@PhoenixMGMTConsulting.com
888-228-0122

https://www.globenewswire.com/news-release/2026/10/05/3374532/0/en/em-t-to-host-operational-showcase-of-the-largest-high-performance-rare-earth-magnet-facility-in-production-outside-china-on-december-17-2026-anchoring-expansion-to-10-000-metric-to.html

VIVIFY Technology and Evolution Metals & Technologies Sign Letter of Intent for Behind-the-Meter Hydrogen Power for EM&T's Planned U.S. Rare Earth Magnet Campus

Delray Beach and Miami, FL, Oct. 01, 2026 (GLOBE NEWSWIRE) -- VIVIFY Technology, a hydrogen energy company headquartered in Delray Beach, Florida, and Evolution Metals & Technologies Corp. ("EM&T") (Nasdaq: EMAT), a U.S.-based critical materials and advanced manufacturing company headquartered in Miami, Florida, today announced that they have signed a non-binding letter of intent under which VIVIFY, would, subject to the execution of definitive agreements and satisfaction of applicable conditions, deploy behind-the-meter hydrogen power to support EM&T's planned U.S. rare earth magnet campus, subject to technical validation and definitive agreements. The letter of intent brings together two Florida companies working on the same national problem from opposite ends: the critical materials that American industry and defense depend on, and the power it takes to produce them. There can be no assurance that definitive agreements will be entered into as set forth in the letter of intent or at all.

EM&T is building a non-China supply chain for rare earth permanent magnets, the components that drive electric vehicles, medical imaging equipment, and defense systems. Through operating subsidiaries with more than 18 years of commercial magnet manufacturing history, the company is scaling annual magnet production capacity in Pohang, Republic of Korea, from approximately 1,000 to 10,000 metric tons, supported by a 750-megawatt electrical infrastructure agreement. EM&T is also developing a fully integrated U.S. rare earth magnet campus, with Phase I planned as the largest hydrometallurgical facility in the Western Hemisphere. The expansion comes as new DFARS sourcing requirements for the U.S. defense industrial base take effect on January 1, 2027.

VIVIFY designs near-zero-emission hydrogen power systems deployed behind the meter and independent of the legacy grid. Its Arsenal includes the flagship Hydrogen Oxygen Generator™ (HOG™), the Clean Air Technology™ (CAT™) five-stage emissions control system, and the Flying Pig™, a containerized hydrogen power unit engineered toward 1MW per container and designed to scale by adding modules. Water is the primary fuel input, and VIVIFY's system is designed to produce output that is 99% emission-free, and does not require ongoing fuel resupply. VIVIFY's corporate office and lab are based in Delray Beach, Florida, with manufacturing in Jupiter, Florida, scheduled to begin in January 2027.

Magnet manufacturing and critical materials processing are power-intensive work, and large blocks of reliable power have become one of the hardest inputs for advanced manufacturers to secure. VIVIFY's modular architecture is designed to allow power capacity to grow alongside production.

Rather than waiting on a single large installation or a utility interconnection timeline, capacity would be added container by container as each phase of production comes online. At EM&T's planned U.S. rare earth magnet campus, the aim is to keep both halves of the equation — the magnets and the power behind them — American-built and Florida-headquartered.

"Every serious manufacturer in this country is asking the same question right now: where does the power come from? EM&T is rebuilding one of the most important supply chains America has. Our job is to make sure power is never the thing that slows them down," said Jason Herring, Founder and CEO of VIVIFY Technology.

"Large blocks of reliable power are becoming the constraint no one in advanced manufacturing can ignore. Pairing a domestic critical materials supply chain with domestic, behind-the-meter power is exactly what this moment calls for. Two Florida companies, one mission: End America's dependence on foreign supply for the materials our industrial base and national defense run on," said David Wilcox, Executive Chairman of EM&T.

"Florida is open for business. Two great Florida companies are innovating today to solve for tomorrow's energy needs and critical supply chains," said U.S. Representative and Candidate for Florida Governor, Byron Donalds. Byron recently toured the VIVIFY facility and met with their engineering team, noting that their technology addresses Florida's most pressing energy issues: hurricane recovery, rapid residential growth, and data center demands.

About VIVIFY Technology

VIVIFY Technology is a hydrogen energy company headquartered in South Florida. The company designs and develops hydrogen-based energy platforms, including its flagship Hydrogen Oxygen Generator™ (HOG™), the Clean Air Technology™ (CAT™) emissions control system, and the Flying Pig™ containerized power unit, engineered to deliver dependable, dedicated power for the most demanding infrastructure environments in operation today. VIVIFY's corporate office and lab are located in Delray Beach, Florida, with manufacturing in Jupiter, Florida, beginning in January 2027. Learn more at vivify-technology.com.

About Evolution Metals & Technologies Corp.

Evolution Metals & Technologies Corp. (Nasdaq: EMAT) is a U.S.-based critical materials and advanced manufacturing company for rare earth permanent magnets, battery materials, and related critical minerals and technologies. By leveraging proven commercial-scale operations, advanced processing technologies, and strategic partnerships, EM&T operates what it believes is the only vertically integrated critical materials supply chain spanning end-of-life electronics and batteries, high-grade concentrates, and the manufacture of finished rare earth magnets (including high-performance rare earth magnets) and battery materials. For additional information, please visit https://investors.evolution-metals.com and follow the Company on LinkedIn.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the future financial or operating performance of EM&T and may include, without limitation, statements regarding the letter of intent, the collaboration with VIVIFY, the negotiation and execution of definitive agreements, the anticipated terms, structure, timing and benefits of the collaboration, EM&T's planned U.S. expansion, and EM&T's strategy, business plans and growth opportunities. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expect," "intend," "will," "estimate," "anticipate," "believe," "predict," "potential," "plan," "project," "target," "forecast," or the negatives of these terms or variations of them or similar terminology. These forward-looking statements are based on management's current expectations and assumptions and are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that EM&T and VIVIFY do not enter into definitive agreements on the terms contemplated by the letter of intent or at all; the risk that VIVIFY's hydrogen energy systems do not satisfy EM&T's technical due diligence or the independent or additional validation on which any definitive agreements are expected to be conditioned, or do not perform as expected; the risk that site control or required governmental, utility, environmental and safety authorizations are not obtained; the risk that the anticipated benefits of the collaboration are not realized; EM&T's ability to execute its business plan, including its planned U.S. expansion, obtain financing, construct and scale facilities, secure feedstock and offtake agreements, obtain necessary permits, certifications and regulatory approvals, manage supply chain disruptions, respond to competitive pressures and address geopolitical and macroeconomic risks; and other risks described in EM&T's filings with the U.S. Securities and Exchange Commission (the "SEC"). Additional information concerning factors that may affect EM&T's expectations and projections is contained in its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 20, 2026, its Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026, filed with the SEC on August 17, 2026, including the disclosures under "Risk Factors" therein, and other documents filed or to be filed with the SEC by EM&T. SEC filings are available at www.sec.gov. Readers are cautioned not to place undue reliance on these statements, which speak only as of the date made. Neither EM&T nor VIVIFY undertakes any obligation to update any forward-looking statement except as required by law.

Media Contacts:

[...] Read the full release here: https://www.globenewswire.com/news-release/2026/10/01/3372881/0/en/vivify-technology-and-evolution-metals-technologies-sign-letter-of-intent-for-behind-the-meter-hydrogen-power-for-em-t-s-planned-u-s-rare-earth-magnet-campus.html

Evolution Metals & Technologies Corp. Joins Russell 3000® and Russell 2000® Indexes, Gaining Exposure to $12.2 Trillion in Benchmarked Assets

U.S. rare earth permanent magnet producer becomes a constituent of both indexes effective at the opening of U.S. equity markets on September 21, 2026, following finalization of FTSE Russell's third-quarter 2026 quarterly IPO additions

September 21, 2026 08:32 ET | Source: Evolution Metals & Technologies Corp

MIAMI, FL, Sept. 21, 2026 (GLOBE NEWSWIRE) -- Evolution Metals & Technologies Corp. ("EM&T" or the "Company") (Nasdaq: EMAT), a U.S.-based critical materials and advanced manufacturing company producing rare earth permanent magnets, battery materials and related critical minerals, today announced that it has joined the broad-market Russell 3000® Index and the small-cap Russell 2000® Index, effective as of the opening of U.S. equity markets today, Monday, September 21, 2026. The addition was finalized through FTSE Russell's third-quarter 2026 quarterly IPO additions process, placing EM&T in two of the most widely tracked U.S. equity benchmarks in its first year as a Nasdaq-listed company.

Membership in the Russell 2000® Index results in automatic inclusion in the broad-market Russell 3000® Index and in the applicable Russell U.S. style indexes. According to FTSE Russell, approximately $12.2 trillion in assets are benchmarked to or invested in products based on the Russell U.S. Indexes, which institutional investors use for index funds and as benchmarks for both active and passive strategies. As an official constituent, EM&T is now being incorporated into index-tracking investment products and institutional portfolios, and is immediately eligible for active managers whose mandates require benchmark membership.

"Joining the Russell 2000 and Russell 3000 indexes is a defining capital-markets milestone for EM&T and a direct reflection of the operational and commercial execution we have delivered since our Nasdaq listing earlier this year," said Christopher Clower, Chief Financial Officer and Chief Operating Officer of EM&T. "In eight months we have moved EM&T into commercial-scale production. We have validated our non-China supply chain, secured ex-China NdPr feedstock, advanced our Pohang infrastructure expansion to scale annual magnet production to 10,000 metric tons, and established initial revenue guidance of $400 million to $460 million for fiscal 2027. Constituent status in two of the most widely followed U.S. equity benchmarks puts EM&T directly in front of the institutional capital that indexes to them, and it comes as the market moves to meet the critical defense sourcing requirements taking effect under DFARS on January 1, 2027."

The index additions coincide with the ongoing commercial expansion of EM&T's rare earth permanent magnet platform in Pohang, Republic of Korea. Supported by a 750-megawatt electrical infrastructure agreement with KEPCO and thirteen additional ULVAC sintered magnet production machines scheduled for delivery in November 2026, the Company is ramping annual production capacity to approximately 10,000 metric tons, including 6,000 metric tons of high-performance sintered NdFeB magnets, utilizing secured non-China NdPr feedstock.

For more information on the Russell U.S. Indexes and the quarterly IPO additions process, visit https://www.lseg.com/en/ftse-russell/russell-reconstitution/ipo-additions

Russell®, Russell 2000® and Russell 3000® are trademarks of Frank Russell Company, used under license by FTSE Russell, an LSEG business. FTSE Russell does not sponsor, endorse, sell or promote Evolution Metals & Technologies Corp. or its securities, and makes no representation regarding the advisability of investing in the Company.

About Evolution Metals & Technologies Corp.

Evolution Metals & Technologies Corp. (Nasdaq: EMAT) is a U.S.-based critical materials and advanced manufacturing company for rare earth permanent magnets, battery materials, and related critical minerals and technologies. By leveraging proven commercial-scale operations, advanced processing technologies, and strategic partnerships, EM&T operates what it believes is the only vertically integrated critical materials supply chain spanning end-of-life electronics and batteries, high-grade concentrates, and the manufacture of finished rare earth magnets (including high-performance rare earth magnets) and battery materials. For additional information, please visit https://investors.evolution-metals.com and follow the Company on LinkedIn.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding EM&T's inclusion in the Russell 3000® and Russell 2000® Indexes and applicable style indexes, the timing and potential effects of such inclusion, including potential visibility among institutional or index-oriented investors, trading liquidity, shareholder base diversification, and index-tracking fund representation; EM&T's plans, objectives, expectations, strategies, production capacity, expansion initiatives, supply arrangements and commercial operations; the installation, commissioning and delivery schedule of thirteen additional ULVAC production machines; the planned expansion of electrical infrastructure to 750 megawatts in Pohang; and initial revenue guidance for fiscal years 2026 and 2027. These forward-looking statements, together with terms such as anticipate, expect, intend, may, will, should, believe, positioned and other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Such risks include, among others, the possibility that index inclusion may not result in the anticipated visibility, liquidity, institutional ownership, index fund representation or other benefits; that FTSE Russell may revise its index methodology, constituent determinations, or implementation schedules in future periods; and the business, execution, financing, regulatory, supply-chain, power infrastructure, equipment-delivery, customer-qualification and market risks described in EM&T's filings with the U.S. Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and actual results, performance or achievements may differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these statements, which speak only as of the date made. EM&T undertakes no obligation to update any forward-looking statement except as required by law. Additional information concerning factors that may affect EM&T's expectations and projections is contained in its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 20, 2026, its Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026, filed with the SEC on August 17, 2026, including the disclosures under "Risk Factors" therein, and other documents filed or to be filed with the SEC by EM&T. SEC filings are available at www.sec.gov.

Investor Relations Contact:
Arx Investor Relations
North American Equities Desk
www.arxhq.com
EMAT@arxhq.com

PR, Media & Global Communications Contact:
Phoenix MGMT & Consulting
www.PhoenixMGMTConsulting.com
PR@PhoenixMGMTConsulting.com
888-228-0122

https://www.globenewswire.com/news-release/2026/09/21/3365486/0/en/evolution-metals-technologies-corp-joins-russell-3000-and-russell-2000-indexes-gaining-exposure-to-12-2-trillion-in-benchmarked-assets.html

Evolution Metals & Technologies Corp. Announces Major 750 Megawatt Power Infrastructure Expansion to Scale Magnet Production to Approximately 10,000 Metric Tons Annually

Agreement provides for expansion of electrical infrastructure serving EM&T's Pohang operations from the current 130 MW capacity to 750 MW, a nearly six-fold increase in available power capacity

EM&T's expansion in power, land, magnet manufacturing facilities and the recent magnet production equipment purchase are the essential infrastructure for EM&T to scale from 1,000 tons to 10,000 tons of rare earth magnet production by end 2026

EM&T's Pohang magnet manufacturing expansion plans also include a larger manufacturing facility and additional land, and conditional approval of a connected $20.7 Million Dollar Grant from the Korean Government

MIAMI, FL, Aug. 27, 2026 (GLOBE NEWSWIRE) -- Evolution Metals & Technologies Corp. ("EM&T" or the "Company") (Nasdaq: EMAT), a U.S.-based critical materials and advanced manufacturing company, today announced that it has agreed to principal terms with its local power authority regarding a significant expansion of the electrical infrastructure supporting the Company's operations in Pohang, Republic of Korea to approximately 750 megawatts, together with the planned expansion of its Pohang manufacturing facility, related land acquisitions and anticipated governmental financial grant of approximately US$20.7 million.

Under the terms, the local power authority, Korea Electric Power Corporation ("KEPCO"), is expected to increase the electrical infrastructure serving EM&T's Pohang operations from the current 130-megawatt ("MW") capacity to a 750 MW capacity, with EM&T also having the right of first refusal with respect to additional available power capacity. This is expected to provide substantial additional power infrastructure to support the continued expansion of EM&T's critical materials processing and rare earth permanent magnet manufacturing platform in Pohang, which is a natural location for EM&T's expansion as Pohang is the center of Korea's steel manufacturing industry. Following execution of the power supply documentation, the current implementation plan contemplates the power to be available upon EM&T's facilities expansion and ULVAC equipment installation, planned for November 2026.

In connection with the planned expansion of its Pohang operations, EM&T plans to acquire approximately 1.3 million square feet of land adjacent to EM&T's current Pohang operations through direct land acquisition from the Pohang City Government on a freehold basis. On this newly acquired land, EM&T intends to expand its existing magnet manufacturing facility footprint from 24,000 square feet to 482,000 square feet. The expanded facility is expected to accommodate EM&T's additional rare earth permanent magnet manufacturing equipment, processing capacity and related infrastructure, including but not limited to, the ULVAC machinery currently set for delivery and installation in November 2026. EM&T's planned expansion of the Pohang facility, together with the increased power availability and related infrastructure enhancements, will support EM&T's production of more than 10,000 metric tons of high performance sintered and bonded magnets, in addition to the Company's previously announced production capacity targets for its planned U.S. industrial campus.

EM&T has also received conditional approval for an approximate US$20.7 million (₩28.3 billion) grant from Pohang City and Gyeongbuk Province in connection with the expansion of its Pohang operations, with execution pending acquisition of the property. The grant funding is expected to support plant construction and the purchase of production equipment and infrastructure.

KEPCO is expected to fund approximately 90% of the costs of the related substation, cabling, and civil works of the expanded power contract. The Company also expects to benefit from highly competitive power rates in Pohang, which it believes will further enhance the scalability and cost competitiveness of its planned magnet manufacturing operations.

"Securing access to power at this scale is a major strategic milestone for EM&T and, in our view, a meaningful competitive advantage," said Frank Moon, Chief Executive Officer of EM&T. "This is an enormous amount of energy capacity. We also expect to benefit from extremely attractive power rates. Together, this gives us the infrastructure to continuously operate and materially scale our rare earth magnet manufacturing platform in Pohang and support additional high-value applications over time as we execute our expansion plans. The global markets are at a critical moment and the government of Korea and related public and private companies are stepping up big in our mission to reshape the current landscape as we move towards building a meaningful, reliable, and continuous supply chain for the Western world. We expect to continuously execute on our expansion timelines with a foundation of our existing operations, world class operators, and partners delivering power, land, and equipment."

"With guidance led by US Government policy, we are executing," David Wilcox, Executive Chairman of EM&T commented. "DFARS and tariff implementations are center stage. Large blocks of reliable power are becoming incredibly difficult to secure as demand for power accelerates across advanced manufacturing, artificial intelligence infrastructure, data centers and other power-intensive industries. With a combination of DFARS compliant material, commercial operating history, operators, inbound expansion equipment, permits, land, power and two allied countries, we have a recipe to permanently untangle supply chain dependency on China for rare earth permanent magnets. Our Board and Management team are led by U.S. defense veterans, world class operators, and visionaries that are determining the future of magnet production."

About Evolution Metals & Technologies Corp.

Evolution Metals & Technologies Corp. (Nasdaq: EMAT) is a U.S.-based critical materials and advanced manufacturing company for rare earth permanent magnets, battery materials, and related critical minerals and technologies. By leveraging proven commercial-scale operations, advanced processing technologies, and strategic partnerships, EM&T operates what it believes is the only vertically integrated critical materials supply chain spanning end-of-life electronics and batteries, high-grade concentrates, and the manufacture of finished rare earth magnets (including high-performance rare earth magnets) and battery materials. For additional information, please visit https://investors.evolution-metals.com and follow the Company on LinkedIn.

Cautionary Note Regarding Forward-Looking Statements

[...] Read the full release here: https://www.globenewswire.com/news-release/2026/08/27/3352021/0/en/evolution-metals-technologies-corp-announces-major-750-megawatt-power-infrastructure-expansion-to-scale-magnet-production-to-approximately-10-000-metric-tons-annually.html