Materials Nexus has used its AI platform to identify a rare-earth-free permanent magnet named MagNex, which was developed in three months, a process that would have taken years without AI. The company claims that MagNex can be produced at 20% of the material cost of currently available rare earth magnets, with a 70% reduction in material carbon emissions. The AI platform can also be used to identify and create next-generation materials for various industries, helping to reduce CO2 emissions and address supply chain and environmental issues.
Key takeaways:
- UK deep-tech company Materials Nexus has developed a new rare-earth-free permanent magnet using its AI platform, which it claims is 200 times faster than traditional methods.
- The demand for permanent magnets, used in electric vehicles and other applications, is expected to grow tenfold by 2030, according to Materials Nexus.
- The company's AI platform was able to identify a rare-earth-free permanent magnet named MagNex, which can be produced at 20% the material cost of currently available rare earth magnets, with a 70% reduction in material carbon emissions.
- Materials Nexus plans to work with industrial partners to accelerate the discovery of viable, cost-effective and sustainable next-gen materials, with applications that include semiconductors, catalysts and coatings.