Allison Transmission’s VC arm makes strategic investment in Niron Magnetics

Allison Ventures, Allison Transmission’s venture capital arm, announces its strategic investment in Niron Magnetics, a pioneering company in the field of sustainable non-rare earth permanent magnets. This investment marks a significant milestone in the advancement of clean energy solutions and the reduction of reliance on critical materials. “Niron Magnetics is excited to have Allison Ventures as a strategic partner,” said Jonathan Rowntree, Chief Executive Officer, Niron Magnetics. “Their expertise and network in commercial-duty propulsion solutions will be instrumental in accelerating the adoption of our Clean Earth Magnet technology and expanding our market reach.” Niron Magnetics has developed a breakthrough technology that enables the production of powerful permanent magnets without the need for rare earth elements. With an extensive patent portfolio, Niron Magnetics is poised to revolutionize the magnet industry and address the challenges associated with the global supply chain of rare earth elements. The strategic partnership between Allison Ventures and Niron Magnetics addresses the growing demand for sustainable and environmentally friendly solutions in commercial-duty mobility. Allison Ventures intends to back the commercialization and expansion of Niron’s non-rare earth magnet technology, alongside other prominent leaders in the automotive industry, by participating in Niron Magnetics’ funding round announced ….”