NIRON MAGNETICS RECEIVES $150 MILLION LOAN FROM THE SHAKOPEE MDEWAKANTON SIOUX COMMUNITY TO SUPPORT IRON NITRIDE MAGNET MANUFACTURING

MINNEAPOLIS, Minn. – August 18, 2026 – 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. Today’s announced funding will support construction, equipment and operational readiness activities at…