Summary: CorePower Magnetics has announced a $10.6 million equity financing to expand manufacturing and commercialize nanocrystalline magnetic components for power electronics. The funding highlights growing demand for efficient inductors and transformers in data centers, grid equipment and industrial electrification.
Advanced magnetic materials are becoming a practical bottleneck as power-electronics systems move toward higher voltage, higher switching frequency and greater power density. On September 17, CorePower Magnetics announced that it had raised $10.6 million in equity financing to support manufacturing expansion, hiring and commercialization of its magnetic materials and components.
The company develops nanocrystalline alloys as well as inductors and transformers designed around those materials. It says the latest financing brings total equity funding to $13.6 million, in addition to previously awarded non-dilutive support from U.S. government programs. The company plans to invest in production capacity and equipment in the Pittsburgh region and move several product lines toward volume production.
Why magnetic components matter in high-power systems
Transformers and inductors control energy transfer, filtering and conversion inside power-electronics equipment. Their core losses, thermal behavior, saturation characteristics, winding design and insulation system can affect the efficiency, size and reliability of the complete converter.
Nanocrystalline magnetic materials can be attractive in high-frequency and high-power applications because their magnetic behavior may allow designers to reduce losses or component size under suitable operating conditions. However, material performance alone does not qualify a component. Production repeatability, core processing, winding consistency, thermal management, insulation, vibration resistance and application-specific validation all remain essential.
What procurement teams should verify
The financing is a business milestone, not evidence that every planned product has reached full-volume production. Buyers considering advanced magnetic components should request qualified electrical data at the intended frequency and temperature, loss curves, insulation and safety information, dimensional tolerances, production lead times, change-control procedures and evidence that the supplier can maintain performance from prototype through serial production.
The announcement also illustrates how magnetics extends beyond permanent magnets. NdFeB and SmCo magnets are central to motors, sensors and actuators, while soft-magnetic cores, inductors and transformers are critical to power conversion. Both material families face increasing performance and supply-chain requirements as AI infrastructure, grid modernization and industrial electrification expand.
Source: CorePower Magnetics announcement distributed by Business Wire, September 17, 2026.