Allison Ventures Announces Strategic Investment in Niron Magnetics

Feb 20, 2024•almost 2 years ago

MinneapolisEnergyManufacturing

Investors

Allison Ventures

Description

Allison Ventures, Allison Transmission’s venture capital arm, has announced its strategic investment in Niron Magnetics, a pioneering company in the field of sustainable non-rare earth permanent magnets.

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.

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