Demand for the rare-earth magnets that help power EVs and wind turbines is skyrocketing. But rare-earth mining decimates ecosystems. Minnesota-based Niron Magnetics’ Clean Earth Magnet is made from iron and nitrogen, both abundant and affordable materials, eliminating the need for rare-earth mining. Niron’s magnets are also stronger than their rare-earth counterparts. Automaker Volvo has already signed on as a partner and provided funding, while the U.S. Department of Energy has awarded Niron $17.5 million to ramp up production.
More Must-Reads From TIME
- Why Cell Phone Reception Is Getting Worse
- The Dirty Secrets of Alternative Plastics
- Israeli Family Celebrates Release of Hostage Grandmother
- We Should Get Paid for Our Online Data: Column
- The COP28 Outcomes Business Leaders Are Watching For
- The 100 Must-Read Books of 2023
- The Top 100 Photos of 2023
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
