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Niron Magnetics, a leading company in the field of magnetic materials, has developed a groundbreaking new magnetic material that is set to revolutionize the tech industry. This new material, made from iron and nitrogen derived from iron oxide and ammonia, called iron nitride is the first new magnetic material introduced in half a century.Niron Magnetics: Rare Earth AlternativeNiron Magnetics was born out of a collaboration between the University of Minnesota and the U.S. government in response to the 2010 rare earth materials price spike. Recognizing the need for domestically producible magnetic materials for national security purposes, a grant program was awarded to a professor at the university, leading to the development of the iron nitride magnet technology. Over the past few years, the technology has evolved from theoretical projections to tangible, measurable results, with magnets that can now be used in various devices and applications.Traditionally, magnets used in technology, such as electric motors,