Honda Motor Co.

Sartell, Minn. – September 15, 2026 -- Niron Magnetics marked a construction milestone at its 287,000-square-foot Sartell, Minnesota facility with a steel-raising ceremony, alongside a new investment from Honda Motor Co. through its Honda Xcelerator Ventures program. The financial terms of Honda's investment were not disclosed.

Sartell plant will produce 1,500 tons of rare-earth-free magnets annually by 2027

CEO Jonathan Rowntree joined Sartell Mayor Ryan Fitzthum, Mark Ford of Ryan Companies and John Shaw of Wood to raise a ceremonial steel column at the plant, which is slated to become operational in 2027. At full capacity, the facility will manufacture up to 1,500 tons of permanent magnets per year and employ 175 full-time workers, representing the first commercial-scale phase of Niron's manufacturing platform.