# Niron Magnetics gets conditional $150M DOD loan and $150M SMSC loan for Sartell magnet plant

Canonical page: https://technooptimist.io/stories/niron-magnetics-gets-conditional-150m-dod-loan-and-150m-smsc-loan-for-b3cc85ae
Date: Aug 2026
About: [Niron Magnetics](https://technooptimist.io/companies/niron-magnetics.md) · [Sartell Iron-Nitride Magnet Plant](https://technooptimist.io/materials/sartell-magnet-plant.md)
Original source: https://www.mprnews.org/story/2026/08/10/niron-magnetics-receives-federal-loan-streamline-sartell-facility-construction

Niron Magnetics secured conditional $150M financing from the U.S. Department of Defense's Office of Strategic Capital and $150M from the Shakopee Mdewakanton Sioux Community. The combined $300M in loans supports capital equipment and construction for the Sartell facility, with full operations targeted for end of 2027.

## Key facts

- DOD recognizes national security importance of domestic rare-earth-free magnet supply
- SMSC loan continues two-decade partnership, supporting Minnesota manufacturing and 175+ jobs
- Both loan commitments fund facility toward full operational status by end of 2027

---

The Techno Optimist tracks every frontier of technology, program by program: https://technooptimist.io/ (a Markdown version of any page: add .md to its URL; site map for agents: https://technooptimist.io/llms.txt).
Data API (JSON, realtime stream): https://technooptimist.io/developers. People read 5 pages free, then Reader $10/month; these Markdown pages are open to agents.