Latest news with #Cyclic
Business Wire
2 days ago
- Business
- Business Wire
Cyclic Materials Announces USD $25M Investment to Establish Centre of Excellence for Rare Earth Recycling in Kingston, Ontario
TORONTO--(BUSINESS WIRE)--Cyclic Materials, the advanced recycling company building a circular supply chain for rare earth elements (REEs), today announced a USD $25 million investment to launch North America's first Centre of Excellence for rare earth recycling in Kingston, Ontario, which will result in 45 new skilled jobs in the region. Spanning over 140,000 square feet, the first-of-its-kind facility will serve as Cyclic's industrial and innovation backbone, combining full-scale commercial processing and cutting-edge research and development (R&D) to address one of the world's most pressing supply chain challenges: the resilient sourcing of rare earth elements for use in permanent magnets. A Strategic Facility Serving a Circular Future The Kingston Centre of Excellence will house Cyclic Materials' first commercial 'Hub' processing unit, leveraging the company's proprietary REEPure SM technology. The facility is designed to convert 500 tonnes of magnet-rich feedstock annually into recycled Mixed Rare Earth Oxide (rMREO)—a product containing crucial components for permanent magnets used in EV motors, wind turbines, and consumer electronics such as Neodymium, Praseodymium, Terbium, and Dysprosium. Feedstock for this facility will be sourced from both Cyclic's Arizona-based 'Spoke', where end-of-life products will be processed, as well as a growing network of partners supplying magnet scrap from production. With operations set to begin in Q1 2026, rMREO from this facility will supply key partners within the magnet value chain, like Solvay, with whom Cyclic Materials signed an offtake agreement in 2024, providing a secondary resource of critical rare earth elements. The site will also house a state-of-the-art R&D center, including advanced labs and a mini-Spoke line, to accelerate process optimization and scale next-generation technologies across the rare earth value chain. Breaking Global Dependency with Local Innovation Today, less than 1% of rare earth elements are recycled, and global supply chains remain highly sensitive to growing geopolitical tensions and supply concentration. Cyclic Materials' proprietary MagCycle℠ and REEPure℠ technologies recover REEs from end-of-life products such as EVs, wind turbines, and data center hard drives—delivering a low-footprint, circular alternative to mining and a fast track to domestic supply security. 'With this Centre of Excellence, we're advancing our core mission: to secure the most critical elements of the energy transition through circular innovation,' said Ahmad Ghahreman, CEO of Cyclic Materials. 'Kingston is where Cyclic began—and now it's where we're anchoring our commercial future.' Kingston: The Cornerstone for the Next Generation of Cleantech Kingston has played a foundational role in the company's success—home to its commercial demonstration facilities and a deep bench of collaborators in research, engineering, and cleantech. The Centre of Excellence will build on robust partnerships with Queen's University, Kingston Process Metallurgy (KPM), RXN Hub, and Impact Chemistry, as well as support from national innovation programs including CMRDD (Critical Minerals Research, Development and Demonstration) from Natural Resources Canada, Sustainable Development Technology Canada (SDTC), and the National Research Council's Industrial Research Assistance Program (IRAP). The facility is expected to create over 45 highly qualified new jobs, with more than 20 hires already onboard. Recruitment has already started with key roles for plant operators, process technicians, and innovation staff. "We are thrilled to see Cyclic Materials' significant investment to establish their Centre of Excellence and Hub in Kingston, Ontario. This announcement not only creates high-quality jobs in the community but is a reflection of the expertise, talent, and supportive ecosystem Kingston has to offer companies,' said Shelley Hirstwood, Director of Business Development at Kingston Economic Development Corporation. 'We are proud to support Cyclic Materials' efforts to create a circular supply chain addressing Canada's critical minerals and rare earth elements." Scaling a North American Rare Earth Recycling Network This investment marks a pivotal step in Cyclic Materials' broader plan to scale its rare earth recycling infrastructure across North America and Europe. With strategic alliances including Solvay, Glencore, Lime, and Sims Lifecycle Solutions, the company is building a resilient, sustainable, and circular ecosystem for rare earth magnets—supporting the electrification of industries and the secure supply of critical materials. About Cyclic Materials Cyclic Materials, founded in 2021, is a cleantech company building a circular supply chain for rare earth elements (REEs) and other critical materials essential to the clean energy transition. Its innovative technology transforms end-of-life products into valuable raw materials used in EVs, wind turbines, and electronics. In 2023, the company launched a commercial demo facility using its MagCycle℠ process to recover rare earth magnets. In 2024, it opened a second facility in Kingston, Ontario, producing Mixed Rare Earth Oxide via its REEPure℠ hydrometallurgical process. With demand for REE-based magnets surging, Cyclic Materials is scaling globally across North America, Europe, and Asia. Mesa, Arizona, is its first U.S. location. In recognition of its pioneering work, it was named the #8 Most Innovative company in North America by Fast Company in 2025. Learn more at
Time of India
2 days ago
- Business
- Time of India
Amazon and Microsoft-backed startup to build Recycling Plant of rare earths in Canada, the 'rare minerals' that analysts say gives China upper hand in trade war with the US
Cyclic Materials , a startup supported by Amazon, Microsoft, and BMW Group, plans to invest $25 million in a rare-earths recycling plant and research center in Ontario, Canada, according to a statement reported by Bloomberg. The facility, set to begin operations in the first quarter of 2026, aims to bolster North America's supply of critical minerals amid rising global demand and China's dominance over rare-earth markets. Cyclic's technology extracts rare earths from end-of-life products like wind turbines, data-center hard drives, and electric vehicle components, addressing supply chain vulnerabilities highlighted by China's export restrictions in retaliation to U.S. tariffs, Bloomberg noted. The company already operates a demonstration facility in Kingston and a processing site in Arizona. What is the rare earth minerals tussle between US and China The rare earth minerals issue between the U.S. and China centers on a trade dispute over critical minerals essential for advanced technologies, including defense systems, electric vehicles, semiconductors, and renewable energy. China mines about 70% of the world's rare earth elements (17 metallic elements with unique properties) and processes over 90%, giving it significant control over global supply chains. They also produce 85% of rare earth magnets used in electric motors and other tech. 'Rare-earth elements are a $20 billion to $30 billion market globally, but they unlock multi-trillion-dollar industries,' Ahmad Ghahreman, CEO of Cyclic Materials, told Bloomberg. 'We are creating a secure, local supply for these critical metals.' The Kingston plant is designed to process 500 metric tons of feedstock annually, producing rare-earth oxides for magnets used in EV motors, wind turbines, and consumer electronics. Feedstock will be sourced from Cyclic's Arizona facility and a network of partners, with output supplied to companies like Solvay SA. The project aligns with Canada's push to become a hub for critical minerals, supported by government incentives and growing interest from automakers and tech giants. Cyclic's initiative could reduce reliance on Chinese rare earths, which account for over 80% of global supply, per Bloomberg. The research center will also develop advanced recycling techniques, positioning Cyclic to meet surging demand for sustainable mineral sources in industries critical to the green energy transition.
Yahoo
2 days ago
- Automotive
- Yahoo
Rare-earth recycler Cyclic Materials to invest $34.2M in Ontario plant amid China export curbs
Cyclic Materials plans to invest Cdn $34.2 million (US $25 million) to expand its rare-earth recycling plant in Kingston, Ont., as China's export restrictions on the magnetic materials vital to electric-vehicle motors send automakers and suppliers scrambling. The homegrown Ontario company said the renovated 140,000-square-foot (13,000-square-metre) site expected to open in early 2026 will serve as the company's 'industrial and innovation backbone.' The plant in Kingston, midway between Toronto and Montreal, will be capable of processing 500 tonnes of magnet-rich feedstock into mixed rare earth oxide annually, five times its capacity today. 'Kingston is where Cyclic began — and now it's where we're anchoring our commercial future,' company CEO Ahmad Ghahreman said in a release. Read more: Live updates on tariff news and impacts Interactive map: Auto manufacturing sites in Canada, the U.S. and Mexico The commitment follows a US $20 million company investment in an Arizona plant in April that will break down end-of-life magnetic products such as EV motors, computer hard-disk drives and wind turbines. The plant capable of processing 25,000 tonnes of scrap annually is also expected to open early next year. The Arizona 'spoke' will carry out the first step in Cyclic's two-stage rare-earth recycling process, and the Kingston 'hub' the second. Together, the plants will extract and recycle rare-earth elements neodymium, paseodymium, terbium and dysprosium, which are key elements in permanent magnets. The average EV has about 0.5 kilograms (one pound) of rare earths, while internal-combustion-engine vehicles have about half that, according to the International Energy Agency. China dominates the market for such rare-earth elements, and export controls introduced in April have created a bottleneck for the little-known materials crucial for producing high-performance motors, pushing them to the top of automotive priority lists in recent weeks. Cyclic said its recycling process offers an alternative to rare earths produced in China and a 'fast track to domestic supply security.' Along with quintupling the production space at its Kingston plant, Cyclic said it will install labs and a small-scale scrap material line, establishing the site as an r&d hub. The expansion project is expected to increase Cyclic's workforce in Kingston to 65 from 20. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Vancouver Sun
2 days ago
- Business
- Vancouver Sun
Amazon and Microsoft-backed startup to build recycling plant in Kingston, Ontario
Cyclic Materials, a startup backed by Inc. and Microsoft Corp., announced plans to build a rare-earths recycling plant and research center in Canada. The company is investing $25 million to develop the facility in Kingston, Ontario, Cyclic said Wednesday in a statement. Cyclic's technology recovers rare earths from disused products including wind turbines and data-center hard drives. The company already has a demonstration facility in Kingston. Demand for rare earths, used in everything from smartphones to battery-powered vehicles, is soaring globally. China is the world's largest miner of rare earths and it has used its dominance of the supply chain to retaliate against US tariffs by restricting exports of these elements. That's prompted buyers to search for alternative sources. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. 'We are creating a new stream of supply for the most critical metals, a secure supply and local supply,' Ahmad Ghahreman, chief executive officer of Cyclic Materials, said in an interview. 'Rare-earth elements are probably a $20 billion to $30 billion market globally, but they unlock multi-trillion dollars of industries' downstream. The Kingston facility, expected to begin operations in the first quarter of next year, is designed to convert 500 metric tons of feedstock into a product that contains crucial components for magnets used in electric-vehicle motors, wind turbines and consumer electronics. Feedstock will come from a Cyclic facility in Arizona and from a network of partners, the company said. The rare-earth oxide produced will be supplied to buyers like Solvay SA. Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .
Yahoo
29-05-2025
- Business
- Yahoo
Cyclic Olefin Polymer Market worth $1.54 billion by 2029, at a CAGR of 6.5%, says MarketsandMarkets™
Delray Beach, FL, May 28, 2025 (GLOBE NEWSWIRE) -- The Cyclic Olefin Polymer Market is projected to reach USD 1.54 billion by 2029 from USD 1.12 billion in 2024, at a CAGR of 6.5% during the forecast period, as per the recent study by MarketsandMarkets™. The cyclic olefin polymer (COP) market is growing steadily due to its unique combination of optical clarity, chemical resistance, and mechanical strength, making it a preferred material across multiple industries. COPs offer high transparency, low birefringence, excellent moisture barrier properties, and superior heat resistance, making them ideal for optical lenses, smartphone displays, medical vials, and diagnostic devices. Their low dielectric constant and high thermal stability drive adoption in 5G communication, automotive LiDAR, and advanced electronics. Additionally, COP's lightweight nature, dimensional stability, and biocompatibility position it as a superior alternative to glass and conventional plastics in pharmaceutical, packaging, and high-performance engineering applications. The North American copper tube market is undergoing significant change with advancements in technology, regulatory changes, and changing industry needs. Technologically, the market is experiencing a shift toward MicroGroove technology, where smaller-diameter, inner-grooved copper tubes are used to improve the efficiency of heat exchange. The design not only enhances energy efficiency but also allows for the use of natural refrigerants by lowering the total charge of refrigerant needed in systems. In addition, improved manufacturing processes, including extrusion and rolling, have made it possible to manufacture seamless copper tubes with consistent dimensions, which enhance structural strength and optimal performance in HVAC systems. Download PDF Brochure: Browse in-depth TOC on 'Cyclic Olefin Polymer Market' 223 - Market Data Tables 52 – Figures 233 - Pages List of Key Players in Cyclic Olefin Market: Mitsui Chemicals, Inc. (Japan) Polyplastics Co., Ltd. (Japan) Sumitomo Bakelite Co., Ltd. (Japan) JSR Corporation (Japan) Borealis AG (Austria) Polysciences, Inc. (US) Biosynth (Switzerland) Tuoxin Technology (Quzhou) Co., Ltd. (China) Zeon Corporation (China) China Petrochemical Development Corporation (China) Drivers, Opportunities and Challenges in Cyclic Olefin Polymer Market: Drivers: Growing demand in healthcare and pharmaceuticals industry Restraint: High production cost of cyclic olefin polymers Opportunity: Increasing use of cyclic olefin polymers in optical applications Challenge: Volatility of raw material prices Get Sample Pages: Key Findings of the Study: Copolymer is projected to have the largest market share in 2029 Electrical & electronics segment to have the second highest market share in the cyclic olefin polymer market Asia Pacific to be the largest market during the forecast period The cyclic olefin polymer market, by type, is segmented into homopolymers and copolymers. Homopolymers, made from a single type of monomer, provide higher purity, excellent optical clarity, and superior chemical resistance, making them ideal for high-end optical applications, medical devices, and precision electronics. Copolymers, formed by polymerizing two or more monomers, offer greater flexibility, impact resistance, and tailored thermal properties, making them suitable for packaging, automotive components, and high-frequency electronic materials. With rising demand for high-performance materials in advanced technologies, both types are driving market growth across diverse industries. The cyclic olefin polymer market, by process type is segmented into injection molding, extrusion, blow molding and others. Injection molding enables the production of high-precision optical lenses, medical components, and electronic parts due to its excellent dimensional stability and intricate mold detailing. Extrusion is widely used for films, sheets, and high-barrier packaging as COPs offer superior moisture resistance, clarity, and chemical stability. Blow molding is ideal for pharmaceutical vials, diagnostic containers, and specialty bottles, leveraging COP's lightweight, impact resistance, and sterility. With growing demand for high-performance polymers in healthcare, electronics, and packaging, these advanced processing methods are expanding COP's market reach. The cyclic olefin polymer market, by end-use industry type is segmented into packaging, automotive, healthcare & medical, food & beverages, electrical & electronics, chemicals, opticals and others. In packaging, COPs offer excellent moisture barriers and durability, making them ideal for pharmaceutical vials, food containers, and sterile medical packaging. The automotive sector benefits from COP's lightweight, low birefringence, and heat resistance, enhancing LiDAR systems, HUDs, and sensor covers. In healthcare & medical, COPs provide biocompatibility, sterilization resistance, and clarity, making them essential for diagnostic devices, syringes, and labware. Food & beverage applications leverage COP's non-reactivity and superior barrier properties for preserving freshness and extending shelf life. The electrical & electronics industry uses COPs in 5G components, high-frequency circuit boards, and optical films due to their low dielectric constant and high thermal resistance. In chemicals, COP's solvent resistance and mechanical strength support specialty containers and industrial applications. The optical industry relies on COP's low birefringence and clarity for camera lenses, displays, and optical films. With increasing demand across these sectors, COPs continue to drive innovation and market expansion. Get Customization on this Report: The Asia-Pacific region stands out as a major growth hub for the cyclic olefin polymer (COP) market, driven by rapid industrialization, technological advancements, and increasing demand for high-performance materials across various sectors. The region's expanding healthcare, electronics, automotive, and packaging industries are fueling the adoption of COPs due to their superior optical properties, low moisture absorption, excellent chemical resistance, and high thermal stability. As governments invest in infrastructure and advanced manufacturing, and as multinational companies shift production to Asia, the demand for COPs continues to surge. Additionally, favorable government policies, rising consumer awareness, and increased R&D investments in advanced materials are contributing to market expansion. China, being the largest manufacturing powerhouse in the region, plays a crucial role in the COP market. The country's strong electronics and semiconductor industry is driving the demand for COPs in display panels, optical films, and high-frequency circuit materials. With the rapid expansion of 5G networks, electric vehicles (EVs), and advanced medical technologies, the need for high-performance polymers like COPs is rising significantly. Additionally, China's growing pharmaceutical sector, along with its leadership in drug delivery systems and medical device manufacturing, is accelerating COP adoption in syringes, diagnostic consumables, and biopharmaceutical packaging. The government's push for domestic innovation and self-sufficiency in high-performance materials further strengthens the COP market. Japan remains a leading innovator in specialty polymers, with established COP manufacturers like Mitsui Chemicals, Zeon Corporation, and JSR Corporation. The country's advanced medical sector, precision optics industry, and strong semiconductor market create high demand for COP-based materials. Japan's aging population and its emphasis on high-quality medical devices are fueling COP usage in medical packaging, drug delivery systems, and diagnostic instruments. Additionally, Japan's dominance in OLED displays and imaging technologies ensures steady demand for low-birefringence and high-transparency COPs in optical applications. The country's automotive sector, especially in autonomous driving technologies, is also boosting the use of COPs in LiDAR sensors and vehicle lighting systems. India is emerging as a strong market for COPs, particularly in pharmaceuticals, medical devices, and sustainable packaging. The country's booming pharmaceutical industry, driven by rising healthcare investments, regulatory reforms, and increasing demand for high-quality drug packaging, has led to greater adoption of COPs in vials, pre-filled syringes, and diagnostic devices. India's expanding food & beverage sector, combined with a shift toward sustainable and high-barrier packaging materials, is further propelling the demand for COP-based packaging solutions. Additionally, India's Make in India initiative and government incentives for electronics manufacturing are supporting the growth of COP applications in consumer electronics and high-performance polymers for electrical components. South Korea, home to global electronics giants like Samsung and LG, is a key market for COPs in display technologies, semiconductor packaging, and optical films. The country's leadership in OLED and flexible display technologies has increased demand for COPs due to their superior optical clarity and low thermal expansion properties. Additionally, South Korea's growing EV and battery manufacturing sector is driving COP applications in lightweight sensor housings and insulation components. The country's government initiatives to promote advanced materials and semiconductor research further create opportunities for COP manufacturers. Overall, Asia-Pacific is a major driver of the global COP market, with China, Japan, South Korea, and India playing pivotal roles in expanding its applications. The region's fast-paced industrial growth, strong technological advancements, increasing healthcare investments, and booming electronics sector are key factors contributing to the market's expansion. With rising demand for lightweight, high-performance, and sustainable materials, COPs are poised to experience significant growth in medical, electronics, automotive, and packaging applications. As companies continue to innovate and governments push for self-reliant supply chains, the Asia-Pacific region will remain a critical market for cyclic olefin polymers in the years to come. Browse Adjacent Markets Resins and Polymers Market Research Reports & Consulting Related Reports: Wood Coatings Market Synthetic Rope Market Synthetic Leather Market Industrial Fasteners Market Medical Filtration Market CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. 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