Milestone construction event and new strategic investment from Honda advance the first commercial-scale facility for rare-earth-free permanent magnets

SARTELL, Minn., Sept. 10, 2026 /PRNewswire/ — Niron Magnetics, the company commercializing the world’s only high-performance rare-earth-free permanent magnets, celebrated the steel raising Wednesday at its manufacturing facility in Sartell, Minnesota, and announced an investment from Honda Motor Co., Ltd. (“Honda”).

At the event, CEO Jonathan Rowntree was joined by Sartell Mayor Ryan Fitzthum, Mark Ford from Ryan Companies, John Shaw from Wood and other leaders to raise a ceremonial steel column at the 287,000 square-foot plant. 

The steel raising marks a major construction milestone for Niron’s Sartell plant, which will be operational in 2027. The plant at full operations will manufacture up to 1,500 tons of annual production capacity and employ 175 full-time jobs. It represents the first commercial-scale step of Niron’s staged manufacturing platform.

Niron also announced an investment from Honda, through its global open innovation program, Honda Xcelerator Ventures, that invests in innovative companies. The investment builds on high expectations for innovative, next-generation rare-earth-free magnetic materials from Honda and will support continued commercialization of Niron’s rare-earth-free permanent magnet technology, as well as help scale the company’s manufacturing operations. The amount of the investment was not disclosed.

“The Sartell plant is where Niron’s technology moves from the lab to full-scale American manufacturing. This is the first facility of its kind anywhere in the world, and it’s a critical step toward giving U.S. manufacturers a permanent magnet supply chain that doesn’t depend on rare earth materials. Honda’s investment, announced this morning, is a strong vote of confidence in that vision, and in the work our team has put in to get us here,” said Jonathan Rowntree, CEO of Niron Magnetics.

In August, Niron Magnetics also announced loan commitments of $150 million each from the Office of Strategic Capital of the Department of War and Shakopee Mdewakanton Sioux Community (SMSC) to advance the Sartell manufacturing site.

Permanent magnets are foundational components in the technologies that power the modern economy, from electric motors to artificial intelligence infrastructure to consumer electronics. Niron’s Iron Nitride technology eliminates the need for rare earth materials entirely, offering a complement to federal and industry efforts to reshore rare earth supply chains rather than a competing approach — the company and others in the sector maintain that the U.S. needs both strategies to secure its magnet supply chain. Niron currently holds 154 issued patents, with 44 more pending.

ABOUT NIRON MAGNETICS

Niron Magnetics is commercializing the world’s first rare-earth-free Iron Nitride permanent magnets through a proprietary manufacturing platform designed to scale advanced materials innovation. The company’s technology enables high-performance permanent magnets made without rare earths or other critical materials, supporting more resilient and domestic supply chains. Today, Niron’s magnets power applications across artificial intelligence infrastructure, automotive, industrial, and consumer electronics. As the company scales manufacturing, its broader materials platform is creating new opportunities to develop the next generation of materials that power motion.

To learn more about Niron’s rare-earth-free magnet technology and its efforts to establish large-scale domestic manufacturing, visit nironmagnetics.com.

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SOURCE Niron Magnetics, Inc.