Magnet Hub Grant Scheme
Funding
Up to £20,000,000
Location
England, North East England, North West England, Northern Ireland, Scotland, South East England, South West England, Wales
Applications
Open until 23 July 2026
The Magnet Hub Grant Scheme offers up to £20 million to build a UK-based facility for rare earth magnet manufacturing. The successful applicant will create a national hub focused on innovation, skills, and scaling up production. The grant is funded by the Department for Business and Trade. The deadline to apply is 23 July 2026.
Who can apply:
Key requirements:
- Must develop a UK-based facility for rare earth permanent magnet manufacturing
- Facility must support innovation, skills development, and manufacturing scale-up
This grant is for UK-based organisations that can develop a world-class national facility for rare earth permanent magnet manufacturing. It is open to applicants across England, Scotland, Wales, and Northern Ireland. It is not suitable for businesses outside the rare earth magnet manufacturing sector.
Sectors
Regions
The Magnet Hub competition will provide up to £20 million of grant funding to support a UK-based facility for developing new and innovative manufacturing capability for rare earth magnets. The successful organisation will develop a world-class national facility that supports innovation, skills development and the scale-up of rare earth permanent magnet manufacturing in the UK.
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Create free accountLast updated: 1 July 2026