Wood has secured the engineering, procurement and construction management (EPCM) contract for Niron Magnetics’ Plant 1 in Sartell, Minnesota, the world’s first full-scale Iron Nitride permanent magnet facility.

The plant will manufacture 1,500 tonnes of Iron Nitride permanent magnets annually once fully operational in 2027, creating a resilient US supply chain for the magnets used in critical industries including automotive, defence systems, industrial motors, and consumer electronics.