Permalloy is a nickel–iron magnetic alloy, with about 80% nickel and 20% iron content. Invented in 1914 by physicist Gustav Elmen at Bell Telephone Laboratories, it is notable for its very high magnetic permeability, which makes it useful as a magnetic core material in electrical and electronic equipment, and also in magnetic shielding to block magnetic fields. Commercial permalloy alloys typically have relative permeability of around 100,000, compared to several thousand for ordinary steel.