The Story of One Company Changing the World
Magnets are at the heart of the products and applications essential to modern society. It is the Magnets which enable electricity, manufacturing, processing of goods, movement of water, tools for construction and transportation. Electrical Machines, motors and generators, are what drive these applications and represent the largest magnet market. As the world evolves away from purely fossil fuel-powered transportation this market will continue to grow from US$26.2 Billion in the year 2020, to a projected US$39.1 Billion by 2026.
On Land, Air and Sea, the electric and hybrid-powered machines must evolve along with this inversible trend. The need for better, more efficient, lighter, lower-cost electrical machines will take over in virtually all industries from transportation to wind energy. And, new markets are emerging including personal electric transport, drones, electric aircraft, and much more! Other strategic markets such as defense, depend on magnets for instrumentation, vehicles and weaponry. As a result, demand for magnets, made of critical Rare Earth Elements (REE), will grow exponentially.
China dominates the REE and magnet industry producing greater than 80% of the world’s magnets. China’s vertical integration of cheap labor, raw materials and unsafe environmental standards have resulted in a “high-barrier to market-entry” for competitors Worldwide. Breaking China’s stronghold requires downstream innovation enabling a sustainable REE supply chain to reinvent technology and transform the industry.
The Advanced Magnet Lab (AML) has developed PM-Wire™. A novel solution for the design, manufacture and optimized performance of permanent magnets that, combined with efforts from numerous U.S. REE supply chain partners will streamline the supply chain and halt the dependency on China. Furthermore, AML has validated PM-Wire™ as an enabler for non-REE magnets, strengthening the U.S. strategic market position.
Create a new and stable magnet supply chain
Magnet Innovation- "Building a Better Magnet in America"
Our Product Family
PM-WireTM - Innovative solution for the design, manufacture, and application of magnets
Our Value Proposition
Increased performance and lower cost end-use product
Advanced Magnet Lab, Inc. (AML) was founded in 1995 as a research and development lab to develop magnet technology for particle accelerator applications. AML has since expanded through various programs across a number of applications in aerospace, renewable energy, transportation, and medical. For almost 30 years, AML has sought the 'holy grail' and today PM-Wire presents that opportunity for the world.
Oct 1, 1995
The Advanced Magnet Lab, Inc. (AML) was formed in 1995 by experts in superconductivity and robotics to develop magnet technology for particle accelerator applications.
Jan 8, 2007
Company was reorganized in 2007 to pursue commercial applications in superconductivity.
Jan 1, 2018
Company shifts from its legacy business model of developing magnet technologies for other company’s product to focus on PM-Wire™ development and market applications.
Jun 1, 2020
PM Technology Development
The Company develops a series of programs to move the technology from concept to more advanced development. In 2020, the Company received funding to accelerate these activities.
Apr 1, 2022
Pilot Manufacturing Build-Out
The AML team completed the buildout in a new facility for the first commercial production line capable of supporting PM-Wire™ related products. This was supported by the Defense Innovation Unit (DIU).
Jan 1, 2023
The development of commercially produced PM-Wire™ products continues today along with the availability of materials for making magnets. The Company has commenced several efforts for developing metal alloy compositions for such magnet manufacturing.
Jan 1, 2023
The Company plans to enter into a form of full-scale manufacturing in 2023 or 2024. This depends on the availability of domestically sourced materials and suitable metal alloy compositions for making magnets.