Niron Magnetics Receives $150 Million Loan From the Shakopee Mdewakanton Sioux Community to Support Iron Nitride Magnet Manufacturing

Niron Magnetics, the company commercializing the world’s first rare-earth-free Iron Nitride permanent magnets, announced a $150 million loan from the Shakopee Mdewakanton Sioux Community (SMSC) to advance the construction of its Sartell, Minnesota, magnet manufacturing plant.