The GreenMag project envisions transforming and revolutionizing the high-power magnetic components (HPMCs) industry by introducing innovative planar magnetic technologies that are more efficient, affordable, and sustainable. As electrification accelerates globally, the outdated design and manufacturing processes of HPMCs have become bottlenecks, hampering more renewable energy adoption, more efficient electricity consumption and the broader green transition. GreenMag will address this by aiming to deliver next-generation HPMCs using planar technologies, that will be 50% smaller, 25% cheaper, and 40% more efficient (compared to the state-of-the-art foil-based technologies), while using 30% less raw material and energy, and achieving a near-complete study on its recyclability.