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From Wired Top Stories:
In testing, a startup called Shark Defense has found that sharks dramatically avoid magnets made from neodymium, iron and boron.
For SharkDefense partners Eric Stroud and Michael Herrmann, the latest eureka moment in their efforts to repel sharks came not from their extensive research but their utter geekiness.
Since 2001, SharkDefense has been working on a chemical shark repellent. According to Herrmann, he and Stroud were playing around with powerful rare-earth magnets in 2005, when he dropped one next to their shark research tank in Oak Ridge, New Jersey. The lemon and nurse sharks inside instantly darted to the opposite wall.
Bewildered, the two scientists began to investigate. The results, chronicled by Ocean Magnetics (their spinoff company), bode well for the much-maligned and often needlessly killed fish.
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