Niron Magnetics Revolutionizes Magnet Industry

Niron Magnetics, a Minneapolis-based company, secures $25 million in funding to scale production of rare earth-free permanent magnets. Led by Samsung Ventures, Allison Ventures, Magna, Shakopee Mdewakanton Sioux Community, and University of Minnesota, the funding will drive the company's Clean Earth Magnet technology to new heights. With a focus on high magnetization and sustainability, Niron Magnetics aims to transform electric motor and generator design. This strategic investment showcases the potential of Niron's innovative approach to magnet manufacturing.