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    Allison Ventures Invests in Niron Magnetics: Revolutionizing Clean Earth Magnets | FinOracle

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Allison Ventures Invests in Niron Magnetics: Revolutionizing Clean Earth Magnets

Allison Ventures invests $25 million in clean earth magnet maker Niron Magnetics, whose innovative magnet was named one of Time's best inventions of 2023. The investment aims to address the growing demand for rare-earth materials and minimize environmental impact. Allison Transmission, known for its vehicle transmissions, joins other investors like Samsung Ventures and Magna.

by John Darbie
Fri, Feb 23, 2024 12:13am
in Business
• 2 mins read
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Allison Ventures Invests in Niron Magnetics: Revolutionizing Clean Earth Magnets | FinOracle

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Allison Ventures Invests in Niron Magnetics’ Revolutionary Clean Earth Magnet Technology

Allison Ventures of Allison Transmission has made a strategic investment in Niron Magnetics, a company that has developed a pioneering technology for creating permanent magnets without the use of rare-earth materials. This breakthrough invention by Niron Magnetics, called the Clean Earth Magnet, has already gained recognition by being listed among Time’s best inventions of 2023.

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