MINNEAPOLIS, MN – May 14, 2024 – Niron Magnetics is thrilled to announce that its Clean Earth Magnet® technology has been recognized on Fast Company’s 2024 World Changing Ideas list. The awards, now in their eighth year, feature products, concepts, companies, and policies that aim to make the world safer, cleaner, more sustainable, and more equitable. Niron earned an honorable mention in the Climate category.
The Clean Earth Magnet represents a significant breakthrough in magnetic materials technology, addressing the pressing challenges of reducing reliance on scarce resources and mitigating environmental damage. Unlike traditional permanent magnets that rely on environmentally damaging rare earth elements, the Clean Earth Magnet is made from iron and nitrogen, two abundant and available materials. This innovative approach offers a sustainable alternative with high magnetic strength, durability, and temperature stability, making it suitable for a wide range of applications including electric vehicle motors, consumer electronics, industrial motors, and wind turbines.
“We are honored to be recognized by Fast Company for our innovative Clean Earth Magnet technology,” said Jonathan Rowntree, CEO of Niron Magnetics. “Our recognition in the Climate category demonstrates our commitment to solving the pressing environmental and security issues associated with rare earth magnets and enabling a cleaner and more sustainable world.”
This year’s entries were judged based on their impact, innovation, creativity, and scalability by Fast Company editors. The selection process included editors and writers meticulously reviewing thousands of entries to identify the most inspiring and impactful solutions and choosing one winner for each one of the 50 categories. Niron Magnetics joins other esteemed companies such as Google in receiving recognition.
Late last year, Niron’s Clean Earth Magnet technology was recognized as one of TIME’s Best Inventions of 2023, followed by another accolade as one of America’s Top GreenTech Companies of 2024 by Time and Statista earlier this year. This additional recognition further affirms Niron Magnetics’ commitment to providing eco-friendly solutions and contributing to the global effort of promoting sustainability and resource efficiency.
For more information on Niron Magnetics and its Clean Earth Magnet technology, please visit www.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 Clean Earth 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/.
About The World Changing Ideas Awards
World Changing Ideas is one of Fast Company’s major annual awards programs and is focused on social good, seeking to elevate finished products and bold concepts that make the world better. Judges choose winners, finalists, and honorable mentions based on feasibility and the potential for impact. With the goals of awarding ingenuity and fostering innovation, Fast Company draws attention to ideas with great potential and helps them expand their reach to inspire more people to work on solving the problems that affect us all.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
