Scientists look to meteorites for inspiration to achieve critical element-free magnet

The U.S. Department of Energy's (DOE's) Critical Materials Institute has developed a low-cost, high performance permanent magnet by drawing inspiration from an out-of-this-world source: iron-nickel alloys in meteorites. The magnet rivals widely used "Alnico" magnets in magnetic strength and has the potential to fill a strong demand for rare-earth- and cobalt-free magnets in the market.