Home Truck News Allison Ventures invests in Niron Magnetics - Truck News

Allison Ventures invests in Niron Magnetics – Truck News

The recently formed Allison Ventures, a venture capital arm owned by Allison Transmission, has invested in Niron Magnetics.

The company specializes in non-rare earth magnets that can be used to reduce the need for rare earth metals in electric motor production.

Niron Magnetics image
(Photo: Niron Magnetics)

“Niron Magnetics is excited to have Allison Ventures as a strategic partner,” said Jonathan Rowntree, CEO, 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.”

“As the mobility industry evolves to cleaner technologies, it is critical to deliver those products in a sustainable manner. We are thrilled to partner with Niron Magnetics in their mission to enable global electrification and provide a sustainable alternative to rare earth magnets,” added Mike Foster, executive director and chief technology officer, Allison Transmission. “Niron’s Clean Earth Magnet technology is meant to address the global demand and supply risks of rare-earth elements needed for electric motors and other critical applications.”


Credit: Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

17 killed, 41 injured in truck crash – Daily Times

17 killed, 41 injured in truck crash  Daily Times Credit: Source link

Texas truck driver, 42, who crashed a stolen 18-wheeler into a DPS building in Brenham after being rejected fo – Daily Mail

Texas truck driver, 42, who crashed a stolen 18-wheeler into a DPS building in Brenham after being rejected fo  Daily Mail Credit: Source link

ECONOMIC TRUCKING TRENDS: Fuel prices eat into trucking conditions – trucknews.com

ECONOMIC TRUCKING TRENDS: Fuel prices eat into trucking conditions  trucknews.com Credit: Source link

FGI to open first Nova Scotia location next week  – Truck News

Fort Garry Industries (FGI) will open its first branch and product distribution...

ECONOMIC TRUCKING TRENDS: Fuel prices eat into trucking conditions – Truck News

It was a fairly light week for economic news, but FTR’s Trucking...