PITTSBURGH – November 28, 2023 – CorePower Magnetics announced today it has been selected for $20 million in funding from the U.S. Department of Energy’s Office of Manufacturing and Energy Supply Chains to launch a state-of-the-art domestic manufacturing facility for magnetic components and advanced metals. Targeting reuse of a former industrial site, the new facility aims to onshore production and strengthen supply chain resilience for electric grid infrastructure and electric vehicles.
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