Pier 12 Capital | Providing sophisticated investors with access to private market opportunities.

Niron Magnetics expands plans for first full-scale rare earth free magnet facility in Minnesota

Niron Magnetics is scaling up its planned Sartell, Minnesota facility — now set to reach 287,000 square feet across two phases, up from the originally proposed 190,000. The rare-earth-free magnet manufacturer will produce up to 1,500 tons of iron nitride magnets annually at the site, targeting data centres, EVs, robotics, and defence applications.

The project carries serious national significance: the US currently produces permanent magnets in the “single-digit tonnage range,” even as global demand is forecast to hit 55,000 tons by 2040. Backed by over $64 million in federal and state funding and a $550 million company investment, the Sartell plant aims to be operational by 2027.

Source: St.Cloud LIVE