PASSENGER D6.3 - Socio-economic impact of the results
Creators: name: Yakoumis, Iakovos
name: Bellos, Ioannis
name: Koutsikou, Georgia
Publisher: name: Zenodo
Year: 2024

description: The ultimate goal of the PASSENGER project is to introduce innovative and sustainable solutions for the substitution of rare-earth elements (REEs) in permanent magnets used in electromobility and pump applications to the market.Since there are no exploitable REE deposits within Europe and recycling is not yet a commercially feasible source for the sheer amount of REEs required by various sectors and industries, the primary objective of the PASSENGER project is to reduce or completely eliminate the dependence of Europe on imported CRMs like REEs used in the fabrication of permanent magnets, by substituting improved strontium ferrite and manganese-aluminium-carbide (Mn-Al-C) magnets in a number of applications, where their excellent performance at high temperature, their intrinsic resistance to corrosion and their recyclability offer an attractive alternative to the Nd-Fe-B magnets that are currently being used. The project’s goal will be achieved by developing and demonstrating 8 innovative pilot plants at TRL 7.This document discloses the framework developed for the assessment of the socio-economic impact of the project, discussing its activities related to various aspects of society and the economy, the resulting outcomes and the expected impacts. It explores the project's potential to generate employment and stimulate economic activity, whilst also addressing the social dynamics and environmental considerations associated with its implementation.It is obvious that by reducing the environmental impact of the permanent magnet value chain, the PASSENGER project can create significant societal benefits. By decreasing greenhouse gas emissions, minimising toxicity levels, and reducing resource scarcity, these innovations contribute towards a healthier and more sustainable environment for the local communities. This can lead to improved public health outcomes and enhanced quality of life for individuals living in proximity to manufacturing facilities or areas affected by environmental degradation. Additionally, the adoption of more environmentally friendly technologies promotes sustainable practices and fosters a culture of responsible consumption and production, aligning with global efforts to achieve a more sustainable future. Moreover, through several PASSENGER dissemination and communication activities, the general public’s interest in science is stimulated, helping them understand the value of scientific research and the benefits it can introduce and promoting their involvement in STEM disciplines. Overall, the societal impacts created by reducing the environmental footprint of permanent magnets through the adoption of the solutions developed by PASSENGER include improved well-being, environmental stewardship, and resilience to environmental challenges.In terms of economic impact, the project involves extensive engagement with the industry, in order to maximise the financial gains generated by the partners from the exploitation of the PASSENGER outputs. The project will lead to new products, which are expected to be protected via patent applications, contributing to increased profitability and fostering innovation and market growth. Moreover, PASSENGER aims to reduce Europe's dependence on critical raw materials through the development of alternative magnets, potentially reshaping global raw material dynamics and enhancing economic stability and security by mitigating supply chain risks. Thus, by supporting innovation, introducing novel products and exploiting European resources, PASSENGER seeks to foster long term, sustainable economic growth in Europe.Therefore, the overall impacts the project is expected to generated, both through and after its life, are quite significant, with the project positively affecting all parts of the permanent magnet value chain and the related stakeholders. If the scientific advances and environmental benefits, which are not included in this assessment, are included, it becomes clear that the implementation of PASSENGER and the achievements of its objectives will enable Europe to become the global leader in novel, sustainable industrial practices.
description: This deliverable is currently under review by the European Commission.