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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.
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