General Motors Co. in Detroit today announced it is collaborating with Niron Magnetics in Minneapolis to develop what the companies state is the world’s first and only permanent magnet with automotive-grade power that is entirely free from critical materials, including rare or heavy rare earth minerals.
Terms of the deal were not disclosed.
Niron Magnetics has developed the world’s first and only permanent magnet with automotive-grade power that is entirely free from critical materials, including rare or heavy rare earth minerals. Niron’s proprietary Clean Earth Magnet technology is based on iron nitride, an abundant and affordable material with great potential for commercial use in future EVs.
EV motors are a key element of GM’s Ultium Platform, and Niron’s magnets present an opportunity to reduce cost and environmental impact compared to traditional magnet materials, while localizing the automaker’s EV supply chain in North America.
The permanent magnets in EV motor rotors are typically made from rare earth minerals like terbium, dysprosium, praseodymium, and neodymium, which are expensive and currently processed almost entirely overseas.
“We believe Niron’s unique technology can play a key role in reducing rare earth minerals from EV motors and help us further scale our North American-based supply chain for EVs,” says Anirvan Coomer, president of GM Ventures. “Our path to an all-electric future will be enabled not only by our own research and development efforts, but also by investing in next generation technology from startups and established companies outside our four walls.”
GM and Niron have completed a strategic partnership agreement to co-develop Clean Earth Magnet motor technology that can be used in future GM EVs. GM Ventures also has made an investment in Niron, which will join the ranks of its 30-plus portfolio companies.
The investment will support the scaling of Niron’s manufacturing and commercialization of their sustainable magnets.
“GM invented rare earth permanent magnets nearly 40 years ago, and now we’re working together to bring the next generation of automotive magnet technology to market,” says Jonathan Rowntree, CEO of Niron Magnetics. “We think that our Clean Earth Magnets can help GM in its goal to put everyone in an EV.”
In recent months, EV sales have slowed as customers deal with high prices, range anxiety, access to limited public charging stations, fears of battery fires, battery replacement costs, and more.
