The Innovation Center for Applied Magnetics (ICAM) was opened on January 17, 2019 in Ningbo, Zhejiang Province.

ICAM is a provincial center jointly established by Ningbo Institute of Materials Technology and Engineering (NIMTE), Chinese Academy of Sciences (CAS) and 12 enterprises in this industry. Based on the national strategic plan of “Made in China 2025”, it aims at developing superior magnetic materials and making them eligible for industrial application.

The establishment of the center is an outcome of market needs and local advantages. The market has a huge demand for excellent magnetic materials especially in the fields of electricity, electronics, and information and communications technology; and Ningbo is famous for its rare-earth permanent magnetic products, which account for over 40% of the total production in China.

The center will forge itself into a market-oriented innovation base with emphasis on cutting-edge technology, technology transfer and intellectual property.