Niron Magnetics raises $25M to scale rare-earth-free magnets
Niron Magnetics secured $25 million in strategic funding from Samsung Ventures, Allison Ventures, Magna and existing investors to scale Clean Earth Magnet production.
Evidence notes
- The funding supports production-facility expansion and manufacturing capacity for customer programs.
- Niron develops iron-nitride permanent magnets for electric motors and other motion systems without rare earth materials.
- The capital supports industrial automation, construction or production workflows as Niron Magnetics moves toward broader commercial use.