Niron Magnetics
Niron Magnetics develops high-performance, rare earth-free permanent magnets known as Clean Earth Magnets, based on Iron Nitride technology. Recognized for their sustainable and abundant input materials, the company has been acknowledged by TIME and secured significant funding from automotive manufacturers.
Company Overview
Niron Magnetics, headquartered in Minneapolis, MN, at 650 Taft St. NE, Suite 400, specializes in the development of high-performance, rare earth-free permanent magnets. The company's signature product, Clean Earth Magnets, leverages Iron Nitride technology, achieving a high level of magnetization using sustainable and abundant materials. This innovation aligns with Niron Magnetics' commitment to reducing reliance on scarce resources and minimizing environmental impact.
Clean Earth Magnet Technology
Niron Magnetics' Clean Earth Magnet technology is an innovative approach to permanent magnet production that avoids the use of rare earth elements. Utilizing Iron Nitride, these magnets achieve high magnetization levels and are produced from abundant and sustainable input materials. This technology provides a viable alternative for sectors concerned with the supply chain and environmental issues tied to rare earth materials.
Applications of Clean Earth Magnets
The Clean Earth Magnets developed by Niron Magnetics are versatile and have a wide range of applications. These include use in the automotive industry, consumer electronics, industrial motors, and wind turbines. The technology enables efficient and environmentally friendly solutions for multiple sectors that traditionally rely on rare earth magnets.
Industry Recognition and Funding
Niron Magnetics has received significant industry recognition and financial backing for its innovative work. Clean Earth Magnets were named one of TIME's Best Inventions of 2023. Additionally, the company was listed among America's Top GreenTech Companies of 2024 by Time and Statista. Niron Magnetics has also secured $33M in funding from leading automotive manufacturers to address the increasing demand for rare earth-free magnets.