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Sartell City Council Enters Purchase Agreement with Niron Magnetics for Major Development
Oct 01, 2024•over 1 year ago
Contract Type
agreement
MinneapolisManufacturingEnergy
Description
The Sartell City Council has signed a Purchase Agreement with Niron Magnetics for 79 acres of public land on the east side of 4th Avenue South. This agreement marks a significant development for the community as Niron Magnetics plans to build a manufacturing plant initially bringing 175 jobs to the area.
Company Information
Company
Niron Magnetics
Location
Minneapolis, Minnesota, United States
About
Niron Magnetics is developing the world’s first advanced manufacturing process for the mass production of permanent magnets powered by its breakthrough material formulation. Niron’s proprietary Clean Earth Magnet™ technology based on Iron nitride enables magnets that possess inherently higher magnetization and can be produced at a lower cost compared to today’s rare-earth magnets and will enable a revolution in the design of new electric motors and generators. Niron participates in a U.S. Department of Energy funded project that aims to develop more cost effective and sustainable drivetrains for electric vehicles.
MinneapolisManufacturingEnergy