Established in March 2000, Inner Mongolia Rare Earth Ovonic Metal Hydride Co.,Ltd. is the first rare earth functional materials enterprise invested and deployed by China Northern Rare Earth (Group) High-Tech Co., Ltd. after its listing. It was founded as a Sino-US joint venture. The company officially started production in 2002 with an initial capacity of 1,500 tons.Since its establishment, the company has adhered to a dual-wheel drive of independent technological innovation and global market layout. With a cumulative R&D investment of over 100 million yuan, its products are exported to many countries and regions worldwide. The cumulative production and sales of hydrogen storage materials have exceeded 28,000 tons, and over 60% of products are supplied to leading global enterprises in the industry, establishing a solid market position in the field of rare earth hydrogen storage.
After years of development, the company has gradually realized the transformation to diversified and high-quality development. In 2011, it embarked on a diversified business strategy, and its independently developed high-temperature alloy products achieved mass production and market sales. In 2017, it successfully completed the equity transfer with the US partner and the change of registered capital, officially becoming a wholly-owned subsidiary of Northern Rare Earth. Relying on resource advantages of the parent company, it achieved leapfrog development. Starting from 2020, the company has laid out the development of solid-state hydrogen storage materials and devices, and continuously explored terminal application products for solid-state hydrogen storage. It has built an integrated solution service system covering materials, devices and applications, supporting the practical application of solid-state hydrogen energy industry.