Hertha Metals, a Texas startup developing high‑purity iron for U.S. rare‑earth magnets used in F‑35 fighters and missile guidance, secured a $133.65 million Series A round, including a $65 million equity investment from the U.S. government’s Defense Department. The funding, channeled through the Industrial Base Analysis and Sustainment program, aims to loosen China’s grip on critical minerals and support domestic defense manufacturing. Hertha will build a $100 million plant, Chalyb, in Conroe, Texas, targeting 10,000 metric tons of high‑purity iron annually.

Meanwhile, new vehicle models are hitting record lows, with automakers planning only a 9% redesign across 2026‑2028, far below the 20‑year average of 14%. The decline reflects the industry’s pivot to EVs and reduced investment in traditional models, delaying new releases by at least a couple of years. Separately, Houthi forces, backed by Iranian missiles, drones, and Chinese-supplied goods, have expanded control along Yemen’s Red Sea coast, including the strategic Bab al‑Mandeb Strait, enhancing their role in regional conflicts.