The brief

Analyst view

• Niron's iron-nitride magnets eliminate dependence on rare-earth elements controlled by hostile supply chains.
• A 1,500 tonne per year plant in Sartell, Minnesota will be fully operational by end of 2027, creating 175+ manufacturing jobs.
• The company secured $150M in DOD loans, $150M from the Shakopee Mdewakanton Sioux Community, and a $10M state grant.

Technical approach

As reported

Chemistry

Iron-nitride permanent magnets

Magnets made from iron and nitrogen, abundant elements with no rare-earth content. Composition and manufacturing process are proprietary.

Supply chain

Domestic materials and production

Manufacturing in Minnesota using U.S.-sourced materials eliminates geopolitical risk from rare-earth supply disruptions.

Applications

Motors, cooling, defense and robotics

Rare-earth-free magnets are suitable for electric motors, data center cooling pumps, military electronics, drones, and robotics.