Niron Magnetics CEO Testifies Before Congress on Urgent Action Needed for Rare Earth Alternatives

WASHINGTON--(BUSINESS WIRE)--Jonathan Rowntree, Chief Executive Officer of Niron Magnetics, testified Wednesday before the U.S. House Select Committee on the CCP, presenting the company's breakthrough Iron Nitride magnet technology as a solution to reducing America's critical dependence on rare earth materials.

Rowntree’s testimony emphasized that Iron Nitride technology at scale can eliminate foreign rare earth dependencies that have plagued American manufacturers for decades.

"Iron Nitride is a new magnet for a new century that no foreign power can monopolize or restrict," Rowntree told the Committee. "A single, vertically integrated facility transforms commodity iron ore and atmospheric nitrogen into finished magnets. This entire pipeline exists within America's borders."

U.S. industries currently consume approximately 50,000 tons of permanent magnets annually, with demand projected to double by 2040 as electric vehicle production accelerates, data center construction increases, and defense systems modernize. Despite this enormous and growing demand, Rowntree told the committee, current U.S. magnet manufacturing output is less than 10,000 tons.

Niron Magnetics recently broke ground on a facility that will begin producing up to 1,500 tons of permanent magnets in 2027, with plans for a second 10,000-ton facility to be operational by 2029. The company has attracted over $300 million in investments from commercial partners including Stellantis, General Motors, and Samsung.

In his testimony, Rowntree urged Congress to support technology-neutral policies for federal procurement preferences of domestically manufactured magnets, extend the Defense Production Act and similar authorities to alternative magnet technologies, and create tax incentives for domestic producers.

"The United States already has everything needed to build a secure, resilient, and diversified magnet supply chain," Rowntree concluded. "What we need is the strategic will to support technologies that eliminate rather than merely reduce foreign leverage."

A recording of the testimony can be found at this link.

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 across various industries. For more information about Niron Magnetics and its technology, please visit https://www.nironmagnetics.com.