Full-Time
Updated on 9/10/2026
Manufactures sustainable high-performance permanent magnets
$100k - $135k/yr
Sartell, MN, USA
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Niron Magnetics makes sustainable, high-performance permanent magnets for devices, motors, and generators. It uses Clean Earth Magnet technology to mass-produce magnets from abundant materials by altering the crystal structure of Iron Nitride through nanomaterial engineering and established metallurgical methods. This creates magnets that perform as well as or better than traditional magnets while reducing reliance on rare earth elements and lowering environmental impact, with a focus on stable, cost-effective manufacturing. The company differentiates itself by offering a greener, more affordable alternative to rare earth magnets, aiming to scale magnet production for widespread use in consumer, industrial, and automotive applications.
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$322.6M
Headquarters
Minneapolis, Minnesota
Founded
2014
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401(k) Retirement Plan
401(k) Company Match
Health Insurance
Dental Insurance
Vision Insurance
Wellness Program
Mental Health Support
Unlimited Paid Time Off
Paid Vacation
Paid Sick Leave
Paid Holidays
Hybrid Work Options
Stock Options
Company Equity
Professional Development Budget
Conference Attendance Budget
Phone/Internet Stipend
Home Office Stipend
Family Planning Benefits
Fertility Treatment Support
Remote Work Options
Relocation Assistance
Adoption Assistance
Childcare Support
Elder Care Support
Gym Membership
Commuter Benefits
Meal Benefits
Legal Services
Employee Discounts
Company Social Events
Niron builds roster of OEM developers for use of rare-earth free magnets. Sporting new alliances with Japanese motor and actuator company Aspina, also with audio companies YG Acoustics in the USA and UK along with Scan-Speak in Denmark, Niron Magnetics continues to build its roster of OEM partners who are applying its rare-earth-free iron nitride permanent magnets to their product development efforts. Announced in July, an agreement to supply Aspina will focus on a variety of high-volume brushless DC motor, hybrid stepper motor and centrifugal fan blower applications across space, automotive, consumer electronics and automation industries. Based in Ueda City, Nagano and with multiple global manufacturing sites, Aspina manufactures precision motors, actuators and electromechanical systems. "Niron's collaboration with ASPINA, a globally respected leader in precision motor technologies, is an important step for both companies," said Jonathan Rowntree, CEO, Niron Magnetics. "It expands how and where Iron Nitride technology can be applied in motor designs while addressing growing concerns around reliance on rare earth materials." "Aspina has deep experience delivering motor solutions across diverse global markets," said Yukihiro Kaneko, CEO of the Aspina Group. "By working with Niron's rare-earth-free magnet technology, we see opportunities to expand our design flexibility and support customers seeking resilient, high-performance solutions." Programs are already underway as part of the supply agreement, establishing a path to high-volume production for rare-earth-free motor applications. This work reflects growing OEM focus on securing long-term magnet supply for high-volume production in critical markets. In June at High End Vienna, a high end audio show in Europe, YG Acoustics, an innovator in high end loudspeaker engineering, and Scan-Speak, a Danish developer of hand-built, high-performance transducers, unveiled the world's first loudspeakers powered by rare-earth-free iron nitride magnets from Niron. The product debut features Carmel 3 loudspeakers by YG Acoustics, equipped with proprietary drivers and utilizing magnets manufactured by Niron. For decades, the high-end audio industry has relied on rare earth magnets, primarily sourced from China. This collaboration marks a turning point, said the companies. YG Acoustics, established in 2002, is recognized globally for its proprietary loudspeaker engineering and commitment to musical accuracy. It is headquartered in Denver, Colorado and operates an R&D hub in Cambridge, UK. "The Carmel 3 represents our commitment to musical truth and technical innovation. Partnering with Scan-Speak and Niron Magnetics allows us to deliver a loudspeaker that is not only sonically exceptional but also points the way to a more secure and responsible future for high-end audio," said Matthew Webster, CEO of YG Acoustics. Scan-Speak, founded in Denmark in 1970, is known for designing and hand-building state-of-the-art transducers for high-end audio, automotive and professional applications. It operates as an independent company within acoustics manufacturer Eastech Group of Denmark. "Scan-Speak has always set the benchmark for high-end transducer design. By integrating Niron's Iron Nitride magnets, we are advancing sound quality and leading the way toward a more sustainable and resilient supply chain," said Jann U. Evers, Director of Sales at Scan-Speak. "This project shows what is possible when industry leaders work together toward a shared vision for innovation. Bringing iron nitride magnet technology into real-world audio products demonstrates both performance and the potential of materials science to solve longstanding challenges," said Jonathan Rowntree, CEO of Niron. "Our collaboration with Scan-Speak and YG Acoustics is just the beginning. These advancements will shape the future of magnetics across many fields."
Niron gets $150M loan to build iron nitride magnet manufacturing plant in Minnesota. Groundbreaking at the Sartell plant. Image: Niron Magnetics. Niron Magnetics announced Tuesday it has received a $150 million loan from the Shakopee Mdewakanton Sioux Community (SMSC) to advance construction of its magnet manufacturing plant in Sartell, Minnesota. The company is working towards commercializing what it said will be the world's first rare-earth-free iron nitride permanent magnets. The funding, it said, will support equipment and operational readiness activities at Niron's Sartell plant, advancing domestic production of rare-earth-free permanent magnets. SMSC became one of Niron's earliest investors in 2016 to advance iron nitride from university research towards a scalable manufacturing pathway. The Community later participated in Niron's 2023 financing syndicate, supporting the development of end-to-end manufacturing capabilities in Minneapolis and customer qualification programs across industries. "This financing helps accelerate construction of our Sartell manufacturing plant and brings us closer to establishing a domestic source of permanent magnets for critical industries," Niron Magnetics CEO Jonathan Rowntree said in a news release. "As demand for rare-earth-free permanent magnets continues to grow, investments like this support our efforts to build a resilient domestic supply chain and scale manufacturing to serve customers across critical industries." "Niron Magnetics is building technology with the potential to strengthen domestic manufacturing while creating economic growth and opportunity here in Minnesota," said SMSC Chairman Cole Miller. "We prioritize investments that align with our Dakota values - including being a good steward of the earth. We recognized Niron's potential early on to benefit the broader Minnesota community and have remained committed to investing in its success." This month, Niron received a conditional commitment from the Department of War's Office of Strategic Capital (OSC) for a direct loan of up to $150 million with a 20-year term to support construction and equipment for the Sartell plant. The plant will serve as Niron Magnetics' first full-scale magnet manufacturing plant and is expected to begin production in 2027. No comments found.
Trump announces $180M for mining education as administration recommits to coal. By Sam Gauntt National WASHINGTON - President Donald Trump said Friday the federal government will fund $180 million in grants for mining schools across the county as part of his administration's goal of rebuilding the U.S. coal industry. The grants will include $100 million from the Department of Energy spread across the 14 accredited mining schools in the U.S., while the Department of Defense will dedicate just over $80 million for three major schools of mining and metallurgy: the Colorado School of Mines, the South Dakota School of Mines and Johns Hopkins University. The Johns Hopkins University grant will help to create a new "multi-material recycling innovation hub," while the South Dakota School of Mines' funding will go toward establishing a consortium of workforce development programs alongside the University of Kentucky and Missouri S&T University. Trump framed the announcement as part of his ongoing effort to rebuild the U.S. coal industry and reopen mines, a central pillar of his energy policy. He has previously sought to shorten the regulation process for new mines and limit the impact of environmental regulations. Trump stressed the national importance of funding mining programs, given that other countries, such as China, graduate students at a far higher rate. Accredited mining programs at U.S. educational institutions graduate less than 170 mining engineers each year, he said, while China graduates more than 3,000 annually. "We're not doing you favors," Trump told a crowd, including miners and many of the schools' representatives, at a ceremony at the State Department building in Washington. "We're doing ourselves favors. We need your industry." Half of the U.S. mining workforce is set to retire within the next three years, he added. "That's why my administration is making an unprecedented financial commitment to our nation's mining schools," Trump said. "It's going to keep us nice and young and vibrant." In addition to increasing support for mining education, Trump announced more than $2 billion worth of new mining contracts and projects. Those investments include $150 million for Minnesota-based Niron Magnetics to develop rare-earth-free magnets that are domestically produced to support the defense industrial base and $1.4 billion for Sila Nanotechnologies, a California-based firm, to "expand production of silicon-carbon battery anodes and build out a lithium-ion battery cell manufacturing facility to strengthen the supply chains of satellite operations, unmanned aerial systems, and munitions," according to a White House fact sheet. Several of the speakers during the ceremony Friday, including Secretary of State Marco Rubio and Secretary of Commerce Howard Lutnick, highlighted the national security benefits of increasing U.S. mine production. "At the core of this is our industrial strength," Rubio said. "But also our national sovereignty - that we never depend on other countries for things we need to prosper and to defend ourselves as a people."
Niron Magnetics has received a conditional commitment from the US Department of War's Office of Strategic Capital for a direct loan of up to $150 million. The 20-year loan would support construction and equipment for the company's manufacturing plant in Sartell, Minnesota. The facility will produce rare-earth-free Iron Nitride permanent magnets using domestically sourced iron and nitrogen instead of rare earth materials. The 287,000-square-foot plant is scheduled to become operational in 2027 and will create up to 175 full-time jobs. Once operational, the facility will produce up to 1,500 tonnes of permanent magnets annually. Niron is already planning a subsequent US manufacturing plant capable of producing 10,000 tonnes annually, expected to break ground in 2028. The conditional commitment remains subject to due diligence and other requirements before final financing documents are executed.
DoD plans $150 million loan to boost U.S. Rare earth-free magnet production. Friday, August 7th, 2026 The Pentagon's Office of Strategic Capital (OSC) on August 7 said it signed a $150 million conditional loan commitment with Niron Magnetics, Inc., to scale the company's permanent magnets that are made with Iron Nitride rather than rare earth elements. The pending loan, which is subject to Niron satisfying financial, technical and legal requirements, is part of the Defense Department's ongoing efforts to bolster domestic supply chains for critical minerals and materials and ween the U.S. defense industry off of... Not a subscriber or registered user yet? Please contact us at [email protected] or call us at 888-707-5814 (Monday - Thursday 9:00 a.m. - 5:30 p.m. and Friday 9:00 a.m. - 3:00 p.m. ET.), to start a free trial, get pricing information, order a reprint, or post an article link on your website.