The deal, which includes $718 million in cash and 65.853 million newly issued shares, positions Energy Fuels as a primary Western supplier for critical sectors including defense, automotive, and robotics. VAC, currently owned by private equity firm Ara Partners, brings extensive intellectual property, over 400 patents, and a state-of-the-art facility in Sumter, South Carolina, to the combined entity.

By integrating VAC’s downstream manufacturing with its own White Mesa Mill in Utah and planned Australian mining projects, Energy Fuels aims to bypass traditional reliance on external supply chains. The company is simultaneously leveraging significant government support, including a $725 million conditional loan from the U.S. Office of Strategic Capital, to accelerate its infrastructure expansion. If completed, the acquisition will allow the firm to scale magnet production to 12,000 tonnes per annum, effectively anchoring a resilient domestic pipeline for rare earth elements essential to national security and industrial technology.