Ionic Technologies, set up in 2022 as a spin-out from Queen's University Belfast, is a wholly owned subsidiary of Ionic Rare Earths Limited (ASX: IXR). It leads globally in permanent-magnet recycling, using a patented process to produce high-purity rare earth oxides (REOs) of 99.9%+ purity from end-of-life magnets and industrial waste. The technology recovers the critical magnet rare earths neodymium (Nd), praseodymium (Pr), dysprosium (Dy), and terbium (Tb), all used in electric vehicles, wind turbines, and defense systems. In September 2022 the company won a 1.72-million-pound grant from the UK Government's Innovate UK to build a demonstration magnet-recycling plant in Belfast, which has run since June 2023 with capacity to process 30 tonnes of waste magnets a year and produce over 10 tonnes of REOs. Through scalable, non-hazardous processes it supports sustainable supply chains, lowering both geopolitical risk and environmental impact.