Niron Magnetics

Niron is nanotechnology that develops technology to make permanent magnets for use in motors and generators.

Niron Magnetics is developing the world’s first advanced manufacturing process for the mass production of permanent magnets powered by our breakthrough material formulation.

Niron was founded in 2014 by Jian-Ping Wang & Frank Thibodeau and is headquartered in Minneapolis, Minnesota.


Niron has developed Clean Earth Magnet™ technology, which leverages materials science innovations to eliminate the need for rare earth content in magnets.


Niron's first generation of the Clean Earth Magnet™ will offer a magnetic field strength of approximately 0.9 Tesla and will address a wide range of applications from audio speakers, magnetic sensors and consumer appliances to industrial motors and automotive accessory motors.


Niron's second-generation magnet will offer a magnetic field strength of 1.5 Tesla and will address higher torque density applications and high operating temperatures – including electric vehicle drivetrains and wind turbines.


Niron is backed by The Volvo Cars Tech Fund, Volta Energy Technologies, Anzu Partners, the University of Minnesota, and others. The company raised $21.3M in a new round on Jul 29, 2021. This brings Niron's total funding to $34.1M to date.



  • Year founded: 2014
  • Funding Info: $34.1M over 4 Rounds (Latest Funding Type: Venture- Series Unknown)
  • Yearly Revenue: NA
  • Employee Size: 11-50
  • Business Valuation: NA
  • City/Town: Minneapolis
  • State: Minnesota
  • Country: United States
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