Vulcan Elements
| Company type | Private |
|---|---|
| Industry | Manufacturing, Rare earth magnets |
| Founded | 2023 |
| Founder | John Maslin, Piotr Kulik |
| Headquarters | Durham, North Carolina , United States |
Key people | John Maslin (CEO and founder), Jake Bowles (COO), Piotr Kulik (CTO), Scott Glover (CCO) |
| Products | Sintered neodymium magnets |
| Website | www |
Vulcan Elements is a startup company specializing in the production of rare earth magnets, headquartered in Durham, North Carolina.
Production
As of October 2025, Vulcan Elements manufactures sintered neodymium magnets with an annual output capacity near 10 metric tons.
History
Established in 2023 by John Maslin, a former financial manager at the U.S. Navy nuclear propulsion laboratory, and electrical engineer Piotr Kulik, Vulcan Elements was created to challenge Chinese dominance in the rare earth magnet industry. Maslin initiated the venture during his time at Harvard University.
The company inaugurated its initial production plant on March 31, 2025, an event attended by leaders from academia, government, and the military.
In August 2025, Vulcan Elements secured $65 million in funding at a valuation of $250 million from investors such as Altimeter Capital, One Investment Management, and 1789 Capital, while also obtaining contracts with the U.S. military.
Key people
John Maslin holds the position of CEO and founder. The executive team includes Jake Bowles as COO, Piotr Kulik as CTO, and Scott Glover as CCO.
Supply chain
The company exclusively procures its raw materials and equipment from suppliers based within the United States, intentionally avoiding any supply chains connected to China. Notable collaborators include ReElement Technologies located in Indiana and Consarc based in New Jersey.
Facilities
Vulcan Elements operates its primary manufacturing and research facility in Research Triangle Park, North Carolina. This location is equipped with a Consarc strip casting furnace, with operational procedures verified by Ames National Laboratory.
See also
- Boom Technology
- China–United States trade war
- Collins Aerospace
- Economy of North Carolina
- Enpro Industries
- MP Materials
- Rare-earth element
- Wolfspeed
External links
- Articles with short description
- Companies based in Durham, North Carolina
- American companies established in 2023
- 2023 establishments in North Carolina
- Manufacturing companies based in North Carolina
- Manufacturing companies established in 2023
- Technology companies established in 2023
- Technology companies of the United States
- Rare earth elements