Niron Magnetics
Niron Magnetics develops and manufactures rare-earth-free Iron Nitride (Fe16N2) permanent magnets, branded Clean Earth Magnet, for automotive, defense, electronics, and industrial customers. The company operates a pilot plant in Minneapolis and is building full-scale U.S. manufacturing capacity.
- Company typePrivate
- Founded2013
- HeadquartersMinneapolis, United States
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What Niron Magnetics does
Niron Magnetics is a Minneapolis-based materials science company that develops and manufactures rare-earth-free permanent magnets based on Iron Nitride (Fe16N2) chemistry, branded as Clean Earth Magnet. The technology targets performance parity with Neodymium (NdFeB) grades while eliminating dependence on scarce rare earth elements, with stated advantages including a 2.4 Tesla theoretical magnetic ceiling versus 1.6 Tesla for NdFeB, inherent high-temperature stability, and a 70–75% reduction in production CO2 emissions per kilogram. The company operates a commercial pilot plant in Minneapolis (opened October 2024), is constructing a 1,500-ton-per-year full-scale facility in Sartell, Minnesota (groundbreaking September 2025, expected operational early 2027), and has initiated site selection for a 10,000-ton-per-year high-volume plant with $1.8B in announced capital investment.
The company serves enterprise customers through direct sales and co-development partnerships across automotive and EV (Stellantis, GM, Allison Transmission, Magna), defense (Moog Inc.), consumer electronics (Samsung, Western Digital), electric mobility and robotics (MATTER, Bimotal), and professional audio (YG Acoustics, Scan-Speak, FaitalPRO). Revenue is generated through three streams: direct sale of Iron Nitride permanent magnets, licensing of the Variable Flux Motor patent portfolio to motor manufacturers, and application engineering services for customer integration. The company employs approximately 150 people as of February 2026 and expects to expand headcount to 175+ at Sartell and 700+ at the planned high-volume facility.
The business is venture- and grant-backed, with cumulative disclosed funding exceeding $300 million from strategic investors (GM Ventures, Stellantis Ventures, Samsung Ventures, Allison Transmission, Magna, Volvo Cars Tech Fund, Western Digital Capital), venture firms (Anzu Partners, Artiman Ventures, Volta Energy Technologies), and U.S. federal and Minnesota state programs (ARPA-E, Section 48C tax credits, Minnesota Forward Fund, MJSP). Leadership includes CEO Jonathan Rowntree, CTO Frank Johnson, Ph.D., a recently appointed COO (Mike Brommer), first CFO (Shyamli Mohamed), and CPO (Becky Schneider); the board includes executives from Anzu Partners, Artiman Ventures, AMD, Rocket Lab, Ooma, and former senior counsel from Apple, IBM, and Qualcomm.
Niron Magnetics firmographics
Firmographics- Name
- Niron Magnetics
- Legal name
- Niron Magnetics, Inc.
- Website
- https://nironmagnetics.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Niron Magnetics develops and manufactures rare-earth-free Iron Nitride (Fe16N2) permanent magnets, branded Clean Earth Magnet, for automotive, defense, electronics, and industrial customers. The company operates a pilot plant in Minneapolis and is building full-scale U.S. manufacturing capacity.
- Ownership category
- akta.pro rank
Niron Magnetics industry classification
Industry- Product category
- Permanent Magnets
- NAICS
- All Other Fabricated Metal Product Manufacturing (33299)
- SIC
- Electronic Coils, Transformers & Other Inductors (3677)
- akta.pro primary industry
- Transformers & Magnetics (Power/Signal) (HDAHANAD)
- akta.pro secondary industries
- Renewable Manufacturing Materials & Subcomponents (Glass, EVA/Backsheet, Composites, Magnets) (EUAMAHAL), Materials, Coatings & Manufacturing Process Innovation (Lightweight Composites, Additive, Automation, Reliability) (EUAMAOAH)
Keywords
Where Niron Magnetics is headquartered
LocationHeadquarters
- HQ city
- Minneapolis
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Niron Magnetics business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Supply Chain, Marketing or Sales
Revenue model
- Permanent Magnet Sales: Sale of Iron Nitride permanent magnets to customers in automotive, defense, industrial, consumer electronics, and other sectors requiring high-performance magnets.
- Technology Licensing: Licensing of Variable Flux Motor patents to motor manufacturers enabling integration of Iron Nitride magnets into next-generation electric motor designs.
- Application Engineering Services: Direct technical support and collaboration with customers to integrate Iron Nitride magnets into specific applications, including testing, characterization, and system-level optimization.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
Niron Magnetics product offering
Product offeringCore offering
Niron Magnetics manufactures high-performance permanent magnets branded as Clean Earth Magnet® using proprietary Iron Nitride (Fe16N2) chemistry, eliminating dependence on rare earth elements. The company operates a commercial pilot plant in Minneapolis and is scaling to a 1,500-ton-per-year full-scale facility in Sartell, Minnesota, serving automotive, defense, aerospace, industrial motor, audio, robotics, and AI infrastructure customers. Products are sold directly to enterprise manufacturers, with Variable Flux Motor patents licensed to motor manufacturers for integration into next-generation electric motor designs.
Product overview
Niron Magnetics is a materials science company that produces the Clean Earth Magnet®, a rare-earth-free permanent magnet technology based on Iron Nitride (Fe16N2). The company operates a commercial pilot plant in Minnesota and is developing manufacturing facilities to scale production for applications in clean energy, automotive, defense, audio, robotics, industrial motors, AI infrastructure/data centers, and aerospace sectors.
Differentiator
Problem solved
Functional benefit
Brands
- Clean Earth Magnet®: Proprietary rare-earth-free Iron Nitride permanent magnet technology branded as Clean Earth Magnet. The technology delivers high-performance permanent magnets for applications across industrial, automotive, consumer electronics, and defense sectors.
Products and services
- Clean Earth Magnet® Rare-earth-free permanent magnets made from Iron Nitride (Fe16N2) technology, designed as a sustainable high-performance alternative to traditional rare-earth magnets. Delivers 2.4 Tesla magnetic performance with inherent thermal stability for use in electric vehicles, defense systems, industrial motors, audio equipment, robotics, and AI infrastructure cooling applications.
- Variable Flux Motor Patent Licensing Licensing of Variable Flux Motor patents to motor manufacturers enabling integration of Iron Nitride magnets into next-generation electric motor designs. Licensed to partners including MATTER, Bimotal, FaitalPRO, and Stellantis for motor and actuator designs.
- Application Engineering Services Direct technical support and collaboration with customers to integrate Iron Nitride magnets into specific applications, including testing, characterization, and system-level optimization.
Quantifiable outcome
- 50% higher magnetic ceiling (2.4 Tesla vs 1.6 Tesla for neodymium magnets)
- +4 more outcomes
Companies that use Niron Magnetics
Customer profileNamed customers11 records
Segments7 records
Ideal customer profiles5 records
Niron Magnetics technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Niron Magnetics partnerships and signals
Strategic signalScale indicators16 records
Recent moves4 records
Expansion highlights6 records
Niron Magnetics competitors and assessment
Company assessmentDirect peers
- MP Materials: U.S.-based rare earth mining and NdFeB permanent magnet manufacturer. Most directly comparable to Niron as a domestic competitor racing to build a U.S. permanent magnet supply chain, though MP Materials uses NdFeB chemistry rather than rare-earth-free Iron Nitride.
- USA Rare Earth: U.S. company developing domestic rare earth mining, processing, and magnet manufacturing. Comparable to Niron as a U.S.-based player building non-China-dependent magnet supply, with overlapping defense and industrial customer segments.
- Dexter Magnetic Technologies: U.S.-based designer and manufacturer of custom permanent magnet assemblies for aerospace, defense, medical, and industrial customers. Comparable as a direct peer in engineered magnetic solutions targeting similar high-performance, mission-critical applications.
Broad incumbents
- VACUUMSCHMELZE (VAC): German manufacturer of advanced magnetic materials and rare-earth-based permanent magnets with deep automotive, industrial, and aerospace customer relationships. Comparable as a broad incumbent competing for the same high-performance magnet applications Niron targets.
- Shin-Etsu Chemical: Japanese chemical company and one of the world's largest producers of NdFeB permanent magnets. Comparable as a global incumbent that defines the cost and scale benchmark Niron must beat in automotive traction motors and industrial applications.
- Proterial (formerly Hitachi Metals): Japanese materials company and major NdFeB permanent magnet producer serving automotive, industrial, and electronics markets. Comparable as a broad incumbent whose NEOMAX product line directly competes for EV motor magnet share.
- TDK Corporation: Japanese electronics giant with a large rare-earth magnet business serving automotive, industrial, and consumer electronics. Comparable as a broad incumbent offering overlapping permanent magnet solutions across Niron's target verticals.
Others
- Lynas Rare Earths: Australian producer of separated rare earth materials, including neodymium-praseodymium feedstocks. Comparable as an upstream enabler of the permanent magnet supply chain whose scale decisions shape Niron's competitive context and customer supply strategies.
Emerging players
- Cyclic Materials: Canadian company commercializing rare earth recycling from end-of-life magnets and motors. Comparable as an emerging alternative supply pathway that, if successful, could reduce demand for primary rare-earth-free solutions like Niron's Iron Nitride platform.
- HyProMag: UK-based rare earth magnet recycling company developing short-loop recycled NdFeB feedstock. Comparable as an emerging player offering a competing solution to the same rare earth supply security problem Niron addresses.
Market position
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Niron Magnetics social profiles
Digital presenceNiron Magnetics financial estimates
Financial estimateRevenue estimate
Valuation estimate
Niron Magnetics leadership team
Management profileNumber of profiles
Profiles19 records
Niron Magnetics funding detail
Funding detailFunding overview
Funding rounds14 records
Investors16 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Niron Magnetics M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Niron Magnetics
What does Niron Magnetics do?
Niron Magnetics manufactures high-performance permanent magnets branded as Clean Earth Magnet® using proprietary Iron Nitride (Fe16N2) chemistry, eliminating dependence on rare earth elements. The company operates a commercial pilot plant in Minneapolis and is scaling to a 1,500-ton-per-year full-scale facility in Sartell, Minnesota, serving automotive, defense, aerospace, industrial motor, audio, robotics, and AI infrastructure customers. Products are sold directly to enterprise manufacturers, with Variable Flux Motor patents licensed to motor manufacturers for integration into next-generation electric motor designs.
Is Niron Magnetics a public or private company?
Niron Magnetics is a private company. It is classified as venture growth investor backed and is currently operating.
When was Niron Magnetics founded?
Niron Magnetics was founded in 2013. It employs 101 to 250 people.
Where is Niron Magnetics based?
Niron Magnetics is headquartered in Minneapolis, United States, in the North America region.
How does Niron Magnetics make money?
Three revenue lines are on record. Permanent Magnet Sales are the primary driver. The others are technology Licensing and application Engineering Services.
Who are Niron Magnetics's main competitors?
Direct peers on record are MP Materials, USA Rare Earth and Dexter Magnetic Technologies. Broad incumbents are VACUUMSCHMELZE (VAC), Shin-Etsu Chemical, Proterial (formerly Hitachi Metals) and TDK Corporation. Lynas Rare Earths is listed as an others. Emerging players are Cyclic Materials and HyProMag.
Does Niron Magnetics have an API?
No public API is recorded for Niron Magnetics.
What industry is Niron Magnetics in?
Niron Magnetics's product category is Permanent Magnets. Its primary akta.pro industry code is HDAHANAD, Transformers & Magnetics (Power/Signal), with a secondary code of EUAMAHAL, Renewable Manufacturing Materials & Subcomponents (Glass, EVA/Backsheet, Composites, Magnets). Its NAICS code is 33299 and its SIC code is 3677.