Project Title: Pilot Production for Commercial Sampling of Rare-Earth-Free Iron Nitride Permanent Magnets
Location: Minneapolis, MN
Award Amount: $17,500,000
Niron Magnetics is commercializing the first powerful permanent magnet free of critical materials. Currently, rare earth permanent magnets are expensive. The required rare earth materials are difficult to source because of projected supply shortfalls and geopolitical risk and are environmentally damaging through their extraction and processing. Powerful permanent magnets are essential for clean technologies, including those used by electric vehicle traction motors, wind generators, efficient industrial motors, and more. Niron’s Iron Nitride-based Clean Earth Magnet® is made from abundant commodity raw materials, enabling a less expensive, domestically manufacturable solution for the clean economy with minimum supply chain risk and a significantly reduced environmental footprint. SCALEUP will enable the next stage of Clean Earth Magnet® production, charting the path to full-scale U.S. production and supply chain security of rare earth-free magnets equivalent to 167% of the White House’s 2030 electric vehicle goal or 103% of its 2030 offshore wind goal.