Niron Magnetics, a University of Minnesota spinout founded by Jian-Ping Wang, a professor in the College of Science and Engineering's Department of Electrical and Computer Engineering, is developing high-powered permanent magnets made from iron and nitrogen rather than rare-earth elements. This rare-earth-free technology addresses supply chain, environmental, and geopolitical challenges associated with traditional magnet materials.
After more than two decades of lab work, the startup cracked the code in 2010 with the compound Fe₁₆N₂, and later made it permanent (meaning it holds its magnetic properties over time), leading to the growth of Niron Magnetics and its moving into commercial pilot production.
Niron recently secured over $100 million in investment, with backers including Volvo, Peerless, and Western Digital. The company is building a full-scale manufacturing facility in Sartell, Minnesota, in early 2027 with around 175 jobs slated, and continues collaborating closely with UMN labs for materials development and characterization.
Wang’s role and UMN’s Technology Commercialization office have been central throughout – supporting patents, prototypes, and scale-up. This work exemplifies how foundational research at the University is powering sustainable technologies and positioning Minnesota in clean tech innovation. Read the full story: here.
The story of Niron Magnetics shows how University-born discoveries can power industries and address global challenges. If you’re working on an idea with commercial potential, consider utilizing the Technology Commercialization office to explore pathways for funding, partnerships, and market translation.