General Motors has recently announced the establishment of the partnership with Niron Magnetics, a United States company headquartered in Minneapolis that develops permanent-magnet motors with Clean Earth Magnet® technology , that is to say without rare earths, but with a technology based on the presence of iron nitride, an abundant and affordable material with great potential for commercial use in future EVs.
«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,» said 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 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,» said 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.»
New funding from GM Ventures, Stellantis Ventures, Shakopee Mdewakanton Sioux Community, University of Minnesota, and other investors will help accelerate commercialization of Niron’s Clean Earth Magnet® technology.