NPM Narva OÜ
Rare earths magnet project in Estonia
fin-eu-jtf-2025-neo-magnet-project
Reading this record
What the evidence says — and does not say
- What kind of figure?
- CommitmentMoney, or a money-like promise, committed to a named recipient or project. The only role ever summed.
- What has happened legally?
- Partially disbursedSome of the money has been paid out.
- Has money been paid?
- Follow the payment evidenceThe source-linked current status records partial payment. It does not establish that the full stated amount was paid or that construction occurred.
- What does it link to?
- Project attributionOne registered project is linked directly to this row. The link alone does not prove the amount was paid or that the project advanced.
This is a commitment role, but the financial status still determines legal standing and payment. Funding and verified industrial outcomes remain separate. A financial record alone never independently verifies construction, commissioning or production. Read SMPT's counting and evidence rules.
Amount
As stated “grant amount of approximately €14.8 million”
EUR 14,800,000 · Approximately · Currency stated in the source
Record
- Provider
- Just Transition Fund
- Legal authority
- Not stated
- Programme
- None named
- Recipient
- NPM Narva OÜNPM Narva OÜCompany
- Project
- Rare earths magnet project in EstoniaNeo Performance's rare earths magnet project in Estonia capital stack →
- Facility
- Not stated
- Location
- EstoniaEE
- Stages
- Component manufacturingSingle stage
- Materials
- Rare-earth permanent magnets (NdFeB)Tracked materials only
Status
Financial and physical progress are separate histories. The last entry is current.
Financial
- Decided
Neo announced that it had been awarded a grant of up to €18.7 million under the JTF.
- Partially disbursedcurrent
As of 31 December 2025, Neo reported receiving an aggregate US$8.4 million from the JTF grant. The status date is the reporting cutoff, not an asserted transfer date.
Implementation
- Operationalcurrent
Neo announced that the European permanent magnet facility was in commercial production and shipping customer volumes.
Notes
The JTF award was initially announced in November 2022 as up to €18.7 million. Neo's 2026 Annual Information Form reports amended terms at a 23% grant rate and an amount of approximately €14.8 million; the amount field reflects that later stated commitment. Neo also reported US$8.4 million received by 31 December 2025, so the financial lifecycle is partially disbursed. The facility entered commercial production on 14 September 2026. F4-B3 provenance review: Neo's 2024 Annual Information Form (issued March 2025) dates a SAME-grant amendment to November 2024, reducing the original up-to €18.7M award to approximately €14.7M at 23.3% of eligible €63.3M project costs. The European Commission's Estonia representation also describes €14.7M support. Neo's 2025 Annual Information Form (issued March 2026) instead describes a rounded 23% rate and approximately €14.8M, the current canonical amount. The discrepancy may be estimation/rounding and is NOT proven to be another legal amendment: no operative day within November 2024, signed Estonian grant change order, or later legal amendment has been established. Structured financialAmountHistory therefore remains absent (history_unreviewed). The 2025 receipt of US$8.4M is a cumulative reimbursement figure, not grant face value. EIS's official supported-project list gives the current Narva JTF project grant as €14,790,898 on eligible project costs €63,327,184, and names NPM Narva OÜ (16493223) as beneficiary. This supports the latest approximately €14.8M figure and exposes a separate legal recipient-identity review, since this row currently names Neo Performance. EIS does not specify the exact November 2024 amendment day, does not establish why Neo's prior AIF said €14.7M, and does not justify changing the canonical current amount or linking any disbursement to this snapshot. The Estonian Ministry of Finance November 2025 audit JTF-2/2025 (project 2021-2027.6.01.22-0002) documents grant change DECISION 11-2/24/4882 dated 28 November 2024, a later amendment decision 11-2/25/4023 dated 16 September 2025, and a 3 November 2023 grant-recipient transfer decision from NPM Silmet OÜ to NPM Narva OÜ for 95% of project activity/budget. These establish administrative decision chronology and legal-entity distinction, NOT the unquoted grant amount in each decision or its precise legal operative/service date. The audit also records formal administrative processing weaknesses but finds the grant use substantially compliant; no funding invalidation is inferred. F4-B4 CURRENT legal-grantee repair: Estonian EIS official funded-project entry and Ministry of Finance JTF-2/2025 audit explicitly name NPM Narva OÜ (16493223), superseding the imprecise group-level Neo Performance sponsor in the recipient field. This corrects the current canonical identity ONLY. At initial November 2022 grant award, NPM Silmet OÜ was the original applicant/beneficiary; 3 November 2023 administrative amendment reassigned 95% of project activities/budget to NPM Narva. The group-level Neo Performance remains a project sponsor, not a synonym or legal beneficiary of the Estonian grant. No historical recipient timeline is fabricated; the 2023 administrative decision's exact operative/service clause is not in hand. No financing amount, status, date-sliced amount version, project or public totals changed.
Evidence
Every populated field names the source that states it, how directly, and where.
European Commission
- Fields supported
- Instrument · Value role · Capital source · Amount · Provider · Project · Location · Status
- Evidence level
- Explicit
- Location in document
- Section 2.1, second paragraph
- Qualification
- Commission describes Neo Performance's strategic project and group-level public support but does not identify the Estonian contracting grantee. Retain project/financial context without falsely citing recipient identity.
European Commission
- Fields supported
- Supply-chain stages · Materials
- Evidence level
- Ambiguous
- Location in document
- Section 2.1, second paragraph
- Qualification
- "Rare earths magnet project": read as permanent-magnet manufacturing; the magnet type is not stated.
Neo Performance Materials
- Fields supported
- Instrument · Capital source · Provider · Project · Location · Status
- Evidence level
- Explicit
- Location in document
- Opening bullets and first two paragraphs
- Qualification
- Establishes the grant award; the original award was up to €18.7 million. Neo's 2022 issuer-level announcement names parent sponsor, NOT sufficient to characterize the same parent's subsidiary as the formal current Estonian administrative grant beneficiary; original award was to NPM Silmet OÜ, reassigned 2023.
Annual Information Form for the year ended December 31, 2025
Neo Performance Materials Inc.
- Fields supported
- Amount · Status
- Evidence level
- Explicit
- Location in document
- European Permanent Magnet facility / government support discussion
- Qualification
- Current grant terms are approximately €14.8 million; Neo reports US$8.4 million received by 31 December 2025.
Neo Advances to Commercial Production at European Facility
Neo Performance Materials
- Fields supported
- Status · Supply-chain stages
- Evidence level
- Explicit
- Location in document
- Opening announcement
- Qualification
- Supports operational implementation status.
Neo Performance Materials — 2024 Annual Information Form, Narva JTF amendment (reported March 2025)
Neo Performance Materials Inc.
- Fields supported
- Amount
- Evidence level
- Explicit
- Location in document
- 2024 Annual Information Form, printed p. 9 / PDF page 10, Rare Earth Magnet Plant in Europe
- Qualification
- Historical amendment evidence ONLY: November 2024 (day unstated), 18.75%→23.3%, eligible costs €63.3M, approximately €14.7M amended grant. NOT the canonical March 2026 approx €14.8M face amount; does not substantiate a new legal amendment after November 2024.
European Commission Representation in Estonia — Neo Narva magnet factory JTF support
European Commission, Representation in Estonia
- Fields supported
- Amount
- Evidence level
- Explicit
- Location in document
- Estonian project text — paragraph beginning 'Euroopa Liidu õiglase ülemineku fond toetas ... 14,7 miljoni euroga'
- Qualification
- Independent Commission framing of €14.7M JTF support, not evidence of exact November 2024 legal operative day, disbursement amount or the current €14.8M estimate.
Ettevõtluse ja Innovatsiooni Sihtasutus (Estonian Business and Innovation Agency)
- Fields supported
- Amount · Project · Recipient
- Evidence level
- Explicit
- Location in document
- EIS supported projects, 'Magnetitehas Narva' / NPM Narva OÜ (16493223): 'Toetuse suurus (eur)' 14 790 898.00; 'Projekti maksumus (EUR)' 63 327 184.00; Õiglase ülemineku fond
- Qualification
- EIS primary registry directly identifies NPM Narva OÜ (16493223) as the grant beneficiary for Magnetitehas Narva and states €14,790,898. It supports CURRENT legal recipient and amount context, NOT the award ceiling on specific previous dates, historical recipient before November 2023, signed amendment effectiveness, or cash disbursed.
Estonian Ministry of Finance — JTF project audit JTF-2/2025, Magnetitehas Narva
Rahandusministeerium (Estonian Ministry of Finance), Financial Control Department
- Fields supported
- Project · Recipient
- Evidence level
- Explicit
- Location in document
- JTF-2/2025 project audit PDF page 3, section 1.1 PROJECTI ÜLDANDMED: original decision 11-2/22/3107 (03.11.2022); decisions 11-2/23/3085 (03.11.2023), 11-2/24/4882 (28.11.2024), 11-2/25/4023 (16.09.2025); pp. 7–9 grant-beneficiary transfer
- Qualification
- Ministry's 2025 audit PDF p.3 names NPM Narva OÜ as CURRENT beneficiary; p.7 footnote 8 says 95% of project tasks/budget transferred from original NPM Silmet OÜ and latter retained 5% partner stake. Source supports CURRENT legal beneficiary, NOT a legal amount on an uninspected administrative decision or a direct ultimate-ownership edge.
| Source | Fields supported | Evidence level | Location |
|---|---|---|---|
| RESourceEU Action Plan: Accelerating our critical raw materials strategy to adapt to a new reality (COM(2025) 945 final) European Commission · Source dossier |
| Explicit Commission describes Neo Performance's strategic project and group-level public support but does not identify the Estonian contracting grantee. Retain project/financial context without falsely citing recipient identity. | Section 2.1, second paragraph |
| RESourceEU Action Plan: Accelerating our critical raw materials strategy to adapt to a new reality (COM(2025) 945 final) European Commission · Source dossier |
| Ambiguous "Rare earths magnet project": read as permanent-magnet manufacturing; the magnet type is not stated. | Section 2.1, second paragraph |
| Neo Performance Materials to Receive First-Ever Grant Under Europe’s Just Transition Fund for Neo’s Planned Sintered Rare Earth Magnet Manufacturing Plant in Estonia Neo Performance Materials · Source dossier |
| Explicit Establishes the grant award; the original award was up to €18.7 million. Neo's 2022 issuer-level announcement names parent sponsor, NOT sufficient to characterize the same parent's subsidiary as the formal current Estonian administrative grant beneficiary; original award was to NPM Silmet OÜ, reassigned 2023. | Opening bullets and first two paragraphs |
| Annual Information Form for the year ended December 31, 2025 Neo Performance Materials Inc. · Source dossier |
| Explicit Current grant terms are approximately €14.8 million; Neo reports US$8.4 million received by 31 December 2025. | European Permanent Magnet facility / government support discussion |
| Neo Advances to Commercial Production at European Facility Neo Performance Materials · Source dossier |
| Explicit Supports operational implementation status. | Opening announcement |
| Neo Performance Materials — 2024 Annual Information Form, Narva JTF amendment (reported March 2025) Neo Performance Materials Inc. · Source dossier |
| Explicit Historical amendment evidence ONLY: November 2024 (day unstated), 18.75%→23.3%, eligible costs €63.3M, approximately €14.7M amended grant. NOT the canonical March 2026 approx €14.8M face amount; does not substantiate a new legal amendment after November 2024. | 2024 Annual Information Form, printed p. 9 / PDF page 10, Rare Earth Magnet Plant in Europe |
| European Commission Representation in Estonia — Neo Narva magnet factory JTF support European Commission, Representation in Estonia · Source dossier |
| Explicit Independent Commission framing of €14.7M JTF support, not evidence of exact November 2024 legal operative day, disbursement amount or the current €14.8M estimate. | Estonian project text — paragraph beginning 'Euroopa Liidu õiglase ülemineku fond toetas ... 14,7 miljoni euroga' |
| Estonian Business and Innovation Agency (EIS) — supported projects: Magnetitehas Narva (NPM Narva OÜ) Ettevõtluse ja Innovatsiooni Sihtasutus (Estonian Business and Innovation Agency) · Source dossier |
| Explicit EIS primary registry directly identifies NPM Narva OÜ (16493223) as the grant beneficiary for Magnetitehas Narva and states €14,790,898. It supports CURRENT legal recipient and amount context, NOT the award ceiling on specific previous dates, historical recipient before November 2023, signed amendment effectiveness, or cash disbursed. | EIS supported projects, 'Magnetitehas Narva' / NPM Narva OÜ (16493223): 'Toetuse suurus (eur)' 14 790 898.00; 'Projekti maksumus (EUR)' 63 327 184.00; Õiglase ülemineku fond |
| Estonian Ministry of Finance — JTF project audit JTF-2/2025, Magnetitehas Narva Rahandusministeerium (Estonian Ministry of Finance), Financial Control Department · Source dossier |
| Explicit Ministry's 2025 audit PDF p.3 names NPM Narva OÜ as CURRENT beneficiary; p.7 footnote 8 says 95% of project tasks/budget transferred from original NPM Silmet OÜ and latter retained 5% partner stake. Source supports CURRENT legal beneficiary, NOT a legal amount on an uninspected administrative decision or a direct ultimate-ownership edge. | JTF-2/2025 project audit PDF page 3, section 1.1 PROJECTI ÜLDANDMED: original decision 11-2/22/3107 (03.11.2022); decisions 11-2/23/3085 (03.11.2023), 11-2/24/4882 (28.11.2024), 11-2/25/4023 (16.09.2025); pp. 7–9 grant-beneficiary transfer |