Press Releases

Niron Magnetics Raises $21.3M to Commercialize Rare-Earth Free Magnets for a More Sustainable Electric Economy

MINNEAPOLIS–(BUSINESS WIRE)–Niron Magnetics, the company developing the world’s first high performance permanent magnets free of rare earths, today announced it has raised $21.3M in new financing. The Volvo Cars Tech Fund and Volta Energy Technologies join existing investors Anzu Partners and the University of Minnesota. Niron will use the funding to build its pilot production facility in Minnesota and accelerate the development of its Clean Earth Magnet™ technology.

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Recent Media Coverage

New manufacturing technology to replace rare earths in magnets

Source: Automotive Industries

Date: June 2021

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