Hooman Reza Nezhad Co-Founded Solcoa Industries Raises $75M in Funding

The funding includes $45 million in equity led by Bain Capital Ventures, with participation from Gigascale Capital, Long Journey, Felicis, Dylan Field, and other leaders from the defense and technology sectors. The company also secured $30 million in debt and equipment financing from J.P. Morgan.

The company will use the funding to build and commission Solcoa One, expand reactor manufacturing in Alameda, and grow its engineering and research teams.

What is Solcoa Industries?

Solcoa Industries produces rare earth metals used in high-powered magnets for electric vehicles, robots, and defense systems.

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The company develops halide-free chemistries, designs its production processes, and builds and operates its own modular reactors. Its technology is designed to produce rare earth metals with lower energy use, and without the harmful emissions associated with legacy molten-salt electrolysis processes.

Solcoa's modular reactors can be built in weeks, allowing production capacity to be added incrementally.

How Much Funding Has Solcoa Industries Raised?

Solcoa Industries has raised $75 million in its latest funding.

The financing consists of:

• $45 million in equity led by Bain Capital Ventures
• $30 million in debt and equipment financing anchored by J.P. Morgan

No previous funding amount was provided.

Who Invested in Solcoa Industries’ Funding Round?

The $45 million equity round was led by Bain Capital Ventures.

Other participating investors included Gigascale Capital, Long Journey, Felicis, and Dylan Field, along with leaders from the defense and technology sectors.

The $30 million debt and equipment financing was anchored by J.P. Morgan.

Why the Funding Matters

Solcoa plans to use the funding to construct and commission Solcoa One and expand its reactor manufacturing operations in Alameda.

The company will also invest in growing its engineering and research teams.

Who founded Solcoa Industries?

Solcoa Industries was founded in 2025 by Hooman Reza Nezhad and is headquartered in Alameda, California.

The company develops production systems for rare earth metals used in electrification, automation, and defense.

Market and Business Growth

Rare earth metals are used to produce high-powered magnets for electric vehicles, robotics, and defense applications. The conversion of refined rare earth oxides into metal is a key step in the supply chain.

Solcoa has grown from a lab-scale research reactor to producing more than 10 tonnes of magnet-grade metal per year in under a year. The company is producing NdPr and samarium metal from its Alameda facility.

Its Solcoa One facility is planned to increase production to 500 tonnes per year, with enough NdPr to supply up to one million electric vehicles.

What Happens Next?

Solcoa Industries will focus on constructing and commissioning Solcoa One while expanding its reactor manufacturing capabilities in Alameda.

The company will also grow its engineering and research teams as it works to increase production of rare earth metals for electric vehicles, automation, and defense applications.

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