Hertha Metals CEO said steel startup Hertha Metals plans to produce high-purity iron for rare earth magnets in the US, which are key materials for F-35 fighter jets and missile guidance systems. The company has now completed Series A financing of $133.65 million, which includes an equity investment of $65 million from the US government. The financing comes in the context of the Trump administration's multi-billion dollar plan. Relevant measures include increasing support for local rare earth and magnet projects.

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