NIRON MAGNETICS APPLAUDS HISTORIC CONGRESSIONAL LEGISLATION RECOGNIZING RARE-EARTH-FREE PERMANENT MAGNETS

Bipartisan legislation establishes first comprehensive U.S. policy framework supporting both rare earth and rare-earth-free permanent magnet technologies

MINNEAPOLIS, June 10, 2026 /PRNewswire/ -- Niron Magnetics, the leader in rare-earth-free Iron Nitride permanent magnets, today applauded the introduction of landmark congressional legislation that would establish a federal framework to incentivize the domestic production and use of permanent magnets across America's defense, energy, and manufacturing sectors.

The Magnets Value Chain Support Act of 2026, creates a federal framework that, for the first time, incentivizes both sides of the permanent magnet supply chain: the domestic producers making permanent magnets, and the OEMs incorporating them into their products.

By securing demand at every level and utilizing a technology-agnostic approach, this legislation ensures permanent magnets used in America are made in America. Led by Representatives John Moolenaar (R-MI) and Ro Khanna (D-CA), Chairman and Ranking Member of the Select Committee on China, rare-earth-free permanent magnets qualify for tax credits should they meet specified performance thresholds.

For Niron Magnetics, the bill's technology-neutral framework represents a fundamental shift in federal policy, one that recognizes Iron Nitride on equal footing with rare earth magnets in U.S. industrial policy.

The bill also provides OEMs producing covered products in the U.S., including motors, generators, robotics, defense systems, and UAVs, with a tax credit of up to 15% on qualified domestic magnet spend. Many of these applications align directly with Niron's target markets. 

"This legislation is an important milestone for Niron and the domestic permanent magnet supply chain," said Jonathan Rowntree, CEO of Niron Magnetics. "Congress is sending a clear signal to innovators, manufacturers, and investors that the U.S. is committed to building resilient supply chains and backing breakthrough technologies that reduce foreign material dependencies. We are proud that Iron Nitride magnets are recognized within this framework, and we believe this policy will accelerate investment, manufacturing growth, and industrial competitiveness."

The legislation comes amid increasing national focus on magnet supply chain vulnerabilities and the concentration of global rare earth processing and magnet manufacturing capacity outside the U.S.

Niron's proprietary technology is based on Iron Nitride, a material that can replace rare earth magnets across the majority of permanent magnet applications and supports advanced domestic manufacturing using abundant and widely available inputs. The company is scaling U.S. manufacturing with a 1,500-ton-per-year capacity permanent magnet plant in Sartell, Minn., and has initiated U.S. site selection for a new high-volume manufacturing plant with 10,000-ton-per-year capacity to support growing commercial and defense demand across multiple sectors.

"This is bigger than any one company," Rowntree added. "This bill recognizes that America needs multiple pathways to secure its permanent magnet future. It reflects a 21st century industrial policy that supports both rare earth and rare-earth-free technologies, giving American manufacturers the options they need to compete globally and win."

ABOUT NIRON MAGNETICS

Niron Magnetics is the world's only producer of high-performance, rare-earth-free permanent magnets. The company's Iron Nitride magnet technology delivers advanced permanent magnets that power essential devices across industrial, automotive, consumer electronics, and defense applications. Through its state-of-the-art manufacturing plant in Minnesota, Niron serves leading manufacturers who require reliable, domestically produced permanent magnets for their products. For more information on Niron Magnetics and its technology, please visit https://www.nironmagnetics.com/  

MEDIA CONTACT:

Colleen Robar, 313-207-5960, [email protected]

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SOURCE Niron Magnetics