Artem Yurkovskyi of Solcoa Industries Named to Forbes US 30 Under 30
Ukrainian innovator Artem Yurkovskyi has been included in the American edition of the Forbes 30 Under 30 list. Each year, the US editorial team selects 30 leaders in 20 different industries — a total of 600 people under the age of 30. Scroll.media identified Yurkovskyi among this year’s honorees in the Manufacturing & Industry category.
Yurkovskyi is the co-founder of Solcoa Industries, alongside partner Hooman Reza Nezhad. Artem is 21; Hooman is 19. «When you were 15, you told us: ‘I will be in Forbes 30 Under 30 someday.’ Today it has become a reality,» says Artem’s father, Anton Yurkovskyi.
Founded in 2023, Solcoa Industries operates in the field of rare earth materials, aiming to reduce US dependence on China and rebuild domestic capabilities. The company claims to be developing the first truly carbon-neutral (carbon-zero) rare earth metal processing technology in North America and the West. According to the team, the core challenge is not mining itself, but processing. Solcoa produces key rare earth elements:
- Neodymium (Nd)
- Dysprosium (Dy)
- Terbium (Tb)
- Praseodymium (Pr)
The startup’s manifesto states:
In the 1950s, the West transformed the rare earth industry, shaping the modern market we know today. Decades later, we are helpless, producing almost NONE of what we consume.
Using destructive processes, Chinese manufacturing has crushed our independence. We have allowed this dominance to persist. We have been slow to regain control, in part because of the environmental consequences of traditional processes.
Today’s problem is not raw materials, but processing. Dominance in this area has become a dangerous political weapon for China. In response, some companies have returned to outdated, harmful processes that we once rightly rejected. This is unacceptable. Our domestic production of rare earth elements remains meager. We can and must do better.
We founded Solcoa Industries to rewrite this history.
Forbes estimates the company’s valuation at $100 million, though Scroll.media was unable to independently verify this figure. Some analytical platforms mention a $200,000 grant from the Thiel Fellowship, awarded to young founders who choose to build a startup rather than continue their studies.
However, Solcoa’s website lists several investors, including Gigascale Capital, Felicis, 8090 Industries, 1517, and BCV, all of which typically write checks ranging from above $1 million up to $10 million. Gigascale Capital indeed includes Solcoa in its publicly available portfolio.
Solcoa currently has fewer than 10 employees, with a similar number of open positions. The company is now building its first factory.
Artem Yurkovskyi of Solcoa Industries Named to Forbes US 30 Under 30
Ukrainian innovator Artem Yurkovskyi has been included in the American edition of the Forbes 30 Under 30 list. Each year, the US editorial team selects 30 leaders in 20 different industries — a total of 600 people under the age of 30. Scroll.media identified Yurkovskyi among this year’s honorees in the Manufacturing & Industry category.
Yurkovskyi is the co-founder of Solcoa Industries, alongside partner Hooman Reza Nezhad. Artem is 21; Hooman is 19. «When you were 15, you told us: ‘I will be in Forbes 30 Under 30 someday.’ Today it has become a reality,» says Artem’s father, Anton Yurkovskyi.
Founded in 2023, Solcoa Industries operates in the field of rare earth materials, aiming to reduce US dependence on China and rebuild domestic capabilities. The company claims to be developing the first truly carbon-neutral (carbon-zero) rare earth metal processing technology in North America and the West. According to the team, the core challenge is not mining itself, but processing. Solcoa produces key rare earth elements:
- Neodymium (Nd)
- Dysprosium (Dy)
- Terbium (Tb)
- Praseodymium (Pr)
The startup’s manifesto states:
In the 1950s, the West transformed the rare earth industry, shaping the modern market we know today. Decades later, we are helpless, producing almost NONE of what we consume.
Using destructive processes, Chinese manufacturing has crushed our independence. We have allowed this dominance to persist. We have been slow to regain control, in part because of the environmental consequences of traditional processes.
Today’s problem is not raw materials, but processing. Dominance in this area has become a dangerous political weapon for China. In response, some companies have returned to outdated, harmful processes that we once rightly rejected. This is unacceptable. Our domestic production of rare earth elements remains meager. We can and must do better.
We founded Solcoa Industries to rewrite this history.
Forbes estimates the company’s valuation at $100 million, though Scroll.media was unable to independently verify this figure. Some analytical platforms mention a $200,000 grant from the Thiel Fellowship, awarded to young founders who choose to build a startup rather than continue their studies.
However, Solcoa’s website lists several investors, including Gigascale Capital, Felicis, 8090 Industries, 1517, and BCV, all of which typically write checks ranging from above $1 million up to $10 million. Gigascale Capital indeed includes Solcoa in its publicly available portfolio.
Solcoa currently has fewer than 10 employees, with a similar number of open positions. The company is now building its first factory.
