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VULCAN ELEMENTS

Tokenised Economic Right (not equity) to potential future liquidity from WLTH’s (Metamasters DAO Corp) allocation in Vulcan Elements. Slices are not securities of, nor endorsed by, the underlying company. They are unsecured contractual rights against WLTH (Metamasters DAO Corp). Residents of the U.S., UK, EU, and other restricted jurisdictions are ineligible. Review the full Terms & Conditions before purchasing. Category: Critical Materials & Advanced Manufacturing Stage: Growth-stage private Opportunity Type: Tokenised Economic Right

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Company Overview

Vulcan Elements is a private American advanced manufacturing company producing neodymium iron boron (NdFeB) rare-earth magnets for defense, semiconductor equipment, AI infrastructure, EVs, robotics, and industrial applications. The company is headquartered in North Carolina and is focused on building a domestic supply of permanent rare-earth magnets, a category of critical input that remains strategically important across both national security and industrial supply chains. Vulcan already operates a 21,000-square-foot commercial manufacturing and R&D facility in Research Triangle Park and is scaling toward significantly larger U.S. production capacity through its planned Benson, North Carolina expansion. The company is positioned within the reshoring and reindustrialization theme, aiming to become a core domestic supplier in a market historically dominated by China. Vulcan remains privately held and venture-backed, with a $65 million Series A led by Altimeter Capital and significant participation from One Investment Management. It has also announced a 1.4billionpartnershipwiththeU.S.governmentandReElement,alongsidea1.4 billion partnership with the U.S. government and ReElement, alongside a 50 million CHIPS Program letter of intent, reinforcing its strategic relevance to domestic manufacturing and critical supply-chain security.

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The Problem

Persistent U.S. reliance on foreign rare-earth magnet supply for critical industrial and defense applications. Rare-earth magnets are essential components in semiconductors, EVs, robotics, drones, AI infrastructure, satellites, and military systems. Domestic supply chains remain fragmented across oxide production, metallization, and final magnet manufacturing. National security and advanced manufacturing customers require secure, traceable, and reliable domestic sourcing. China’s dominance in rare-earth magnet production creates strategic vulnerability for U.S. industry and defense.

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The Solution

Development of a domestic rare-earth magnet manufacturing platform focused on NdFeB magnets for critical commercial and defense applications. Operation of an existing commercial manufacturing and R&D site in North Carolina, providing current production capability and process development infrastructure. Scale-up of U.S. magnet manufacturing capacity through the planned Benson facility. Strategic supply-chain partnerships with ReElement and Energy Fuels to support domestic rare-earth oxide sourcing and integration. Government-aligned expansion supported by CHIPS incentives and broader strategic financing initiatives. Positioning as a domestic supplier of mission-critical components for high-priority industrial and national security markets.

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Founding Team

John Maslin – Founder & Chief Executive Officer Former U.S. Navy Supply Officer and former financial manager for the Navy’s nuclear propulsion program. Leads Vulcan’s strategy, scaling efforts, and industrial positioning. Piotr Kulik, PhD – Co-Founder & Chief Technology Officer Magnet science specialist and Assistant Professor at the University of Central Florida. Leads the company’s technical development and magnet manufacturing innovation. Jake Bowles – Chief Operating Officer Former senior engineer at SpaceX and former director at Ursa Major. Brings advanced manufacturing and aerospace production experience. Scott Glover – Chief Commercial Officer Previously worked on McKinsey supply-chain security and critical-materials projects. Supports commercial strategy and go-to-market execution.

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Business Model

Vulcan generates revenue by manufacturing and selling rare-earth magnets into industries where secure domestic supply is increasingly critical, including defense, semiconductors, AI infrastructure, EVs, robotics, and industrial equipment. Its commercial opportunity is driven by the need for U.S.-based customers to secure high-performance, traceable, and strategically aligned magnet supply from domestic producers. As production capacity scales, the business has the potential to expand through higher manufacturing volumes, deeper enterprise relationships, and long-term supply agreements with industrial and government-linked customers.

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Traction and Validation

Opened a 21,000-square-foot commercial manufacturing and R&D facility in Research Triangle Park in March 2025. Raised a 65millionSeriesAinAugust2025ledbyAltimeterCapital,withsignificantparticipationfromOneInvestmentManagement.Reportedatanapproximately65 million Series A in August 2025 led by Altimeter Capital, with significant participation from One Investment Management. Reported at an approximately 250 million valuation in connection with its Series A financing. Finalized a commercial-scale offtake agreement with ReElement Technologies for light and heavy rare-earth oxides in August 2025. Signed an MOU with Energy Fuels to support domestic NdPr and Dy oxide supply for validation and future production. Received a preliminary non-binding CHIPS Program letter of intent for 50millioninproposedincentivesinNovember2025.Announceda50 million in proposed incentives in November 2025. Announced a 620 million conditional loan commitment as part of a broader joint financing package with ReElement. Selected Benson, North Carolina for a $918.1 million expansion project expected to create 1,000 jobs. State officials said the Benson project would establish the largest magnet factory in the world outside China. Public statements indicate Vulcan’s products have been independently validated and delivered to customers in critical defense and technology sectors.

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Intellectual Property and Strategic Assets

Owned: Existing U.S. commercial manufacturing and R&D footprint in North Carolina. Owned: Proprietary rare-earth magnet manufacturing process and applied technical know-how. Owned: Leadership team with experience spanning defense procurement, magnet science, aerospace manufacturing, and industrial commercialization. Access / Partnered: Commercial-scale oxide supply relationship with ReElement Technologies. Access / Partnered: Additional domestic feedstock pathway through Energy Fuels. Access / Partnered: Strategic support through CHIPS incentives and government-aligned industrial financing. Brand & Positioning: Positioned as a domestic rare-earth magnet manufacturer aligned with U.S. industrial reshoring, national security, and supply-chain resilience.

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Disclaimer

No affiliation, nominative reference only. The underlying company is entirely unaffiliated with this offering, with Metamasters DAO Corp, and with the associated Slices. Specifically: No endorsement or authorisation. The underlying company has not reviewed, approved, authorised, endorsed, sponsored, or consented to any aspect of this token, marketing material, or structure. No participation or cooperation. The underlying company and its officers, directors, shareholders, and employees are not involved, directly or indirectly, in structuring, issuing, marketing, managing, servicing, or redeeming the Slices. No contractual or economic relationship. Purchasing a Slice does not give you any equity, debt, contractual claim, option, warrant, or other right against the underlying company. Your sole counter-party is WLTH. No obligations on the underlying company. It owes you no fiduciary duty, payment, or disclosure and will have no liability to you in connection with your purchase. No effect on the underlying company’s securities. Issuing Slices does not affect its capitalisation, shareholder base, voting power, or governance. Trademark usage. Any mention of the underlying company’s name is strictly nominative. WLTH claims no ownership and implies no sponsorship.