Niron Magnetics, a company pioneering the production of rare-earth-free permanent magnets, has been granted a substantial $10 million award from the Minnesota Forward Fund. This funding is aimed at facilitating the construction of an innovative manufacturing facility in Sartell, Minnesota. The proposed plant, which will span 190,000 square feet, is poised to become the world’s first full-scale production site dedicated to Iron Nitride-based magnets, a significant step towards reducing reliance on traditional rare-earth materials.
Support from State Institutions
The grant from the Minnesota Forward Fund, overseen by the Minnesota Department of Employment and Economic Development (DEED), is part of a broader strategy to bolster investments in newly emerging industries. This funding follows an earlier $2 million grant awarded to the City of Sartell in June 2025, which was intended to support vital infrastructure improvements necessary for the facility’s development. According to Jonathan Rowntree, CEO of Niron Magnetics, the support from the state is crucial for scaling their innovative technology and positioning Minnesota as a leader in sustainable manufacturing.
The Sartell facility is not just a technological breakthrough; it also represents a significant economic opportunity for the region, expected to generate approximately 175 full-time jobs upon its completion. Construction is set to commence this fall, with operations projected to begin in early 2027. The site chosen for this facility is on land formerly occupied by the Verso Paper Mill, marking a transformative use of previously industrial property.
Innovation in Sustainable Manufacturing
Niron Magnetics’ iron nitride-based magnets present an environmentally friendly alternative to conventional rare-earth magnets, which are typically manufactured overseas and are susceptible to supply chain disruptions. These new magnets utilize abundant materials, such as iron and nitrogen, significantly reducing the dependence on rare earth elements. The technology promises to deliver superior magnetic performance, catering to various sectors including electric vehicles, data centers, industrial motors, consumer electronics, and defense systems.
As noted by Matt Varilek, Commissioner of DEED, the Minnesota Forward Fund is designed to support projects that not only bolster economic growth but also create high-quality job opportunities. He emphasized that this investment in the production of rare-earth-free magnets positions Minnesota as a frontrunner in clean energy technology while also securing essential domestic supply chains for critical materials.
About Niron Magnetics
Niron Magnetics is at the forefront of developing an advanced manufacturing process for the mass production of permanent magnets using its proprietary material formulation. Their technology, based on Iron Nitride, aims to revolutionize the market by providing highly efficient magnets devoid of rare earth elements.
Related
