This is the second in a series of articles looking at industrial and academic innovation in greater San Marcos and Central Texas. Another of the forthcoming articles will focus on the Texas State University Science, Technology and Advanced Research Park that is facilitating cutting edge business concepts and academic research and some of the businesses there.
This past February, Noveon Magnetics Inc., a San Marcos-based company, was in the headlines when Texas Gov. Greg Abbott chose to deliver his state of the State address from the manufacturing floor inside its state of the art facility.
What was the great attraction then that made this location paramount for that event? Here was a company not ubiquitously known even by many in this community, but one that insiders knew was taking the concept of a circular economy to heart from day one, when it spread its fledgling wings in Central Texas in 2012. Its business model is based around the concept of providing novel magnet products and processes that take at the core a systemic recycling technology, designed to generate more energy with less consumer product waste. Their advent into this marketplace gave the U.S a better foothold in the burgeoning arena for rare earth element resource capture and reclamation.
