Niron Magnetics Wins Innovation of the Year Award at the mHUB Fourth Revolution Awards

MINNEAPOLIS--(BUSINESS WIRE)--Niron Magnetics, the company pioneering the world’s first high-performance, rare-earth-free Iron Nitride permanent magnets, was named the Innovation of the Year at the 2025 mHUB Fourth Revolution Awards. This recognition highlights Niron’s breakthroughs in advanced manufacturing and Industry 4.0, which harnesses automation, digital technologies, and environmentally responsible production methods. Together, these innovations enable a scalable, domestic alternative to rare earth magnets.

The Fourth Revolution Awards celebrate the most transformative technologies shaping the future of manufacturing and hardtech. Hosted by mHUB on March 6, 2025, the ceremony honored companies driving significant advancements in engineering, sustainability, and production processes. The Innovation of the Year award specifically recognizes a technology or process that is disrupting its industry and setting new standards for efficiency and impact, with Niron selected from a competitive group of five finalists.

“This award is a great honor and a reflection of the hard work and innovation of our entire team,” said Jonathan Rowntree, CEO at Niron Magnetics. “At Niron, we’re proud to be the catalyst for the resurgence of domestic manufacturing with our rare-earth-free magnets, while also laying the foundation for a more sustainable, scalable, and resilient future for American industry.”

The Niron Magnetics Iron Nitride magnet manufacturing process is designed for efficiency and scalability, utilizing widely available iron and nitrogen as inputs to create high-performance permanent magnets. Its advanced production methods recycle 80 percent of the water and 97 percent of the hydrogen used, while also allowing the magnets to be fully integrated into existing scrap iron recycling streams. By eliminating reliance on constrained and volatile supply chains for critical materials, Niron ensures a stable source of high-performance magnets for industries that depend on them.

As the world shifts toward electrification and advanced manufacturing, Niron’s award-winning technology is setting a new standard for sustainable and scalable magnet production, proving that manufacturing innovation can drive both industry growth and environmental responsibility right here in the Midwest.

To learn more about Niron Magnetics, please visit https://nironmagnetics.com.

About Niron Magnetics

Niron Magnetics is scaling the world’s first advanced manufacturing process for the mass production of permanent magnets powered by its breakthrough material formulation. The company’s proprietary magnet technology based on Iron Nitride enables magnets that are inherently high magnetization, free of rare earths and other critical materials, and will drive innovation in various industries. For more information about Niron Magnetics and its technology, please visit https://www.nironmagnetics.com/.