Company Profile

Niron Magnetics

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Private

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Overview

About Niron Magnetics

Niron Magnetics is a privately held U.S. advanced-materials company headquartered in Minneapolis, Minnesota, developing and commercializing the world’s only high-performance, rare-earth-free permanent magnets based on iron nitride (Fe16N2) Clean Earth Magnet technology. By eliminating neodymium, praseodymium, dysprosium and terbium, Niron’s magnets reduce reliance on China-dominated rare-earth supply chains while using abundant iron and nitrogen inputs. The company has broken ground on a 1,500-ton-per-year manufacturing facility in Sartell, Minnesota, and is conducting site selection for a high-volume plant valued at over US$1.8 billion capable of producing up to 10,000 tons annually. Niron has attracted backing from automotive and industrial strategics including GM Ventures, Stellantis and Samsung, plus a US$52 million Section 48C tax credit and Minnesota Forward Fund support. Its magnets target electric-vehicle motors, wind turbines, consumer electronics and industrial automation.

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