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Rare earth metals in short supply: new magnets for EVs and wind turbines to accelerate energy transition

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EVs, wind turbines and high-end appliances often rely on permanent magnets containing ‘rare earths’. As the production of these high-performance magnets could become scarce in the future due to increasing demand, scientists are working on new solutions to speed up the energy transition. Tesla has also announced its intention to move away from rare earth metals.

Powerful magnets made from rare earth metals are used in motors that drive electric cars, wind turbines or various electrical appliances such as vacuum cleaners. The permanent magnets used in today’s high-end devices are made from materials that could become scarce in the coming decades as demand is expected to increase.

According to Seaver Wang, co-director of the climate and energy team at the Breakthrough Institute, the supply of some rare earth chemical elements will need to increase sevenfold by 2050 just to meet the demand for wind turbines. Demand for rare earth metals such as neodymium and dysprosium for electric vehicles could increase 15-fold by 2040.

Contrary to their name, rare earth elements are not that rare. However, there are not enough production sites and the elements do not occur in high concentrations, among other things, which could make it difficult to mine them economically in a few years’ time. According to Jonathan Rowntree, CEO of Niron Magnetics, “the world needs a different solution and a different technology”.

The alternative: iron nitride

Tesla, for example, announced in 2023 that it would stop using rare earth metals in its next-generation EVs. Minnesota-based startup Niron Magnetics is building a production facility for iron nitride, which is derived from common elements, to address potential future shortages. It aims to reach a production capacity of 1,000 kilograms by the end of 2024.

The company is also working to maximise the material’s potential. So far, Niron’s magnets have only reached 10 MGOe. With appropriate optimisation, 20 to 30 MGOe could be achieved – the theoretical upper limit is even higher than that of the neodymium magnets used today.

In addition, iron nitride magnets do not contain cobalt. Cobalt mining is known to cause environmental and humanitarian problems (e.g. in the Congo), and has been criticised by human rights and environmental organisations. The material is therefore an important part of the fight against climate change, along with other alternative solutions.

Increased magnets and increased magnet supply are critical to enabling the energy transition. Without more magnets, we’re just not going to be able to meet our objectives.

 – Gregg Cremer, advisor to the US Department of Energy’s ARPA-E

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