NIRON MAGNETICS RECEIVES CONDITIONAL $150 MILLION DEPARTMENT OF WAR COMMITMENT

MINNEAPOLIS, Minn., AUGUST 7, 2026 – Niron Magnetics, the company commercializing the world’s first rare-earth-free Iron Nitride permanent magnets, today announced a conditional commitment from the Department of War’s Office of Strategic Capital (OSC) for a direct loan of up to $150 million with a 20-year term to support construction and equipment for the company’s advanced manufacturing plant in Sartell, Minnesota. The financing would accelerate…