Niron Magnetics Funding & Investors

Minneapolis, MN

Permanent magnets are essential components in various technologies, including electric vehicles, wind turbines, and many electronic devices. Niron Magnetics focuses on creating high-performance, rare-earth-free magnets. This is significant because traditional rare-earth magnets, which often use materials like neodymium and dysprosium, can face supply chain challenges due to the limited availability of these elements. By developing alternatives to traditional rare-earth magnets, Niron Magnetics aims to address issues related to material scarcity, cost, and environmental concerns. Their innovations could contribute to the sustainability and reliability of technologies that rely on permanent magnets. Niron was founded in 2014 as a spinout of University of Minnesota and is based on technology that has received the support of ARPA-E, the National Science Foundation (NSF), and the Department of Energy Office of Basic Energy Sciences.