Highlights

• Niron Magnetics introduces Clean Earth Magnet® technology using iron and nitrogen to replace rare-earth elements in permanent magnet production.
• Backed by major investors like General Motors and Samsung.
• The technology aims to scale to 1,500 tons/year by 2026.
• The innovative approach reduces environmental damage and geopolitical supply risks associated with traditional rare-earth magnet manufacturing.

---

A recent article in Chemical Engineering explores a groundbreaking development in the field of permanent magnets, focusing on Niron Magnetics' Clean Earth Magnet® technology. This innovation purportedly can replace rare-earth elements (REEs) like neodymium and samarium with abundant and environmentally friendly materials, such as iron and nitrogen. The shift could address significant challenges tied to REE extraction, including environmental damage, geopolitical supply risks—particularly with China, and high costs.

Core Premise

Mary Page Bailey, writing for Chemical Engineering, (opens in a new tab) writes that Niron Magnetics has developed a novel production process for permanent magnets using iron nitride, a material with the highest theoretical magnetization known and excellent thermal stability. This process begins with creating engineered iron oxide nanoparticles, reducing them into iron nitride, and compacting the particles under high pressure to form dense magnets.

The technology is currently operational at a pilot plant in Minneapolis, with plans to scale production at a new facility in Sartell, Minnesota, targeting 1,500 tons/year by 2026.

What’s the Investors’ Take?

From an investor’s vantage, the recent write-up conveys significant corporate interest in Niron Magnetics, with investments from major players like General Motors, Volvo, Samsung, and Stellantis. These partnerships suggest strong commercial potential and confidence in the technology’s ability to deliver high-performance magnets without REEs.   The company announced the raising of $33 million (opens in a new tab) on Nov 8, 2023.

However, the article is notably optimistic and does not delve deeply into the challenges of transitioning to REE-free magnets. Key hurdles such as manufacturing scalability, potential performance trade-offs in certain applications, and the cost competitiveness of iron nitride magnets compared to established REE-based alternatives are not discussed in detail.

Conclusion

While the article effectively introduces Niron Magnetics’ promising technology and its potential to reduce reliance on rare-earth elements, it does not provide a balanced view of the challenges associated with scaling this innovation or competing with established REE-based magnets. Investors and stakeholders may need additional data on costs, real-world performance, and production hurdles to assess the viability of this alternative fully.

Niron Magnetics

Niron Magnetics is revolutionizing magnet production with its proprietary Clean Earth Magnet® technology, the first advanced manufacturing process for mass-producing high-performance permanent magnets. Based on iron nitride (Fe₁₆N₂), a material with superior magnetic properties, Niron's magnets offer higher magnetization at a lower cost compared to rare-earth magnets, enabling advancements in electric motor and generator design.

Originating from groundbreaking research at the University of Minnesota led by Professor Jian-Ping Wang in 2002, the company was founded in 2014 to commercialize this rare-earth-free technology. Niron's sustainable approach reduces environmental impact and supply chain risks associated with rare earth mining.

Recognized for its innovation, Niron's Clean Earth Magnet was named one of TIME's Best Inventions of 2023 and ranked #22 on TIME's 2024 list of America’s Top GreenTech Companies. In 2024, the company opened a 70,000-square-foot pilot plant in Minneapolis, advancing efforts to meet growing demand for sustainable magnetic materials across industries like electric vehicles, wind energy, and consumer electronics.

With its scalable, cost-effective technology, Niron Magnetics is poised to transform the magnet industry by providing powerful, environmentally friendly alternatives to traditional rare-earth magnets.