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Phoenix Tailings, co-founded by MIT alumni, aims to produce rare earth metals domestically using a proprietary electrochemical system that minimizes waste and emissions. The company opened a facility in Exeter, New Hampshire, capable of processing 200 tons annually of light and heavy rare earth metals, with plans to scale to over 1,000 tons.

This facility represents a significant step in reducing dependence on Chinese supply chains, where China controls 91% of global refining output. In 2025, Phoenix Tailings secured $76 million in Series B funding and an additional $40.2 million in early 2026 to accelerate production. The facility processes materials from various unconventional sources, promoting a circular economy model.