08:03 AM EDT, 09/19/2025 (MT Newswires) -- Neo Performance Materials ( NOPMF ) said Friday it has signed a Memorandum of Understanding with Robert Bosch, agreeing to reserve a "significant" annual magnet production capacity for the global company.

The MOU also outlines a "clear mutual target" for the partners to transition the capacity reserve into definitive projects, a statement said.

For Neo, this commitment develops the roadmap to plan and optimize the design and construction of the next phase of its magnet manufacturing facility in Estonia.

"Entering this extended partnership with Bosch is an important step in building a resilient and sustainable supply chain for our customers," said Rahim Suleman, chief executive officer. "This secures a significant portion of our future production and speaks to our strategy of prioritizing partnerships with the world's largest and most innovative companies."