Latest news with #CyclicMaterials'
Yahoo
a day ago
- Business
- Yahoo
Cyclic Materials to invest $25m in rare earth recycling centre in Ontario
Cyclic Materials has announced a $25m (C$34.04m) investment to establish a rare earth recycling facility in Kingston, Ontario, Canada. The new Kingston Centre of Excellence is claimed to be North America's first Centre of Excellence for rare earth recycling. The facility, spanning more than 140,000ft², will combine full-scale commercial processing with research and development (R&D) to address the resilient sourcing of rare earth elements (REEs). The centre will feature Cyclic Materials' first commercial hub processing unit, using the company's proprietary REEPure technology. It is designed to convert 500 tonnes per annum of magnet-rich feedstock into recycled mixed rare earth oxide (rMREO). The facility will play a crucial role in providing components for permanent magnets used in various technologies. The rMREO produced will supply key partners within the magnet value chain, including Solvay, under a previously signed offtake agreement in 2024. This will offer a secondary resource of critical REEs to the industry. Operations at the centre are expected to commence in the first quarter of 2026, and the project is set to create 45 new skilled jobs. Additionally, the site will house an advanced R&D centre, equipped with labs and a mini-Spoke line, to further process optimisation and scale next-generation technologies. Cyclic Materials CEO Ahmad Ghahreman said: 'With this Centre of Excellence, we are advancing our core mission: to secure the most critical elements of the energy transition through circular innovation. 'Kingston is where Cyclic began – and now it is where we are anchoring our commercial future.' This initiative comes at a time when less than 1% of REEs are recycled globally, with supply chains vulnerable to geopolitical tensions and supply concentration. Cyclic Materials' MagCycle and REEPure technologies are designed to recover REEs from end-of-life products, offering a sustainable alternative to traditional mining and contributing to domestic supply security. The Centre of Excellence will also leverage partnerships with Queen's University, Kingston Process Metallurgy, RXN Hub and Impact Chemistry, supported by national innovation programmes. Kingston Economic Development Corporation director of business Shelley Hirstwood said: '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. 'We are proud to support Cyclic Materials' efforts to create a circular supply chain addressing Canada's critical minerals and rare earth elements." "Cyclic Materials to invest $25m in rare earth recycling centre in Ontario" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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
Business Wire
23-04-2025
- Business
- Business Wire
Cyclic Materials to Invest Over USD $20M in its First Commercial Facility in the United States
TORONTO--(BUSINESS WIRE)-- Cyclic Materials, the advanced recycling company creating a circular supply chain for rare earth elements (REEs) and other critical materials, today announced it has invested over USD $20M in its first commercial facility, located in Mesa, Arizona. The new state-of-the-art facility will be the company's first global REE recycling operation focused on the separation of permanent magnets from end-of-life products previously not recovered, using its proprietary MagCycle℠ process. As part of the company's commitment to building a sustainable ecosystem, Cyclic Materials is establishing a feedstock supply network that will serve the entire U.S. While the company has already secured partnerships in the Southwest—a key region with an estimated 155,000 tonnes per year of end-of-life components from automotive and e-scrap metals—it is actively expanding its reach nationwide to develop a more robust and scalable supply chain. 'We are excited to begin commercial operations in the U.S. in early 2026,' said Ahmad Ghahreman, CEO and co-founder of Cyclic Materials. 'We have chosen the vibrant Southwest for our first U.S. and global site to be close to feedstock that will support our mission to address the global supply-demand imbalance for rare earth materials. By developing circular supply chains, we can reduce dependence on overseas sources and secure a more stable REE supply for the future.' Recruitment for the first hires at the Mesa facility is expected to begin in Q2 2025, to fill the over 30 jobs required to operate the plant. The new plant will help drive innovations in the electronic scrap and metal recycling industry while supporting local economic growth. State officials welcomed the news, praising it as a major step toward economic growth and job creation in the region. 'We are proud Cyclic Materials will establish its first U.S. facility right here in Arizona,' said Governor Katie Hobbs. 'This facility will create family-sustaining jobs and support thriving industries, all while advancing Arizona's clean energy economy.' 'This facility means more good-paying jobs in Mesa and a stronger supply chain that will power everything from electric vehicles to artificial intelligence,' said Senator Mark Kelly. 'Arizona is leading the way on clean energy and innovation, and this investment will make sure we build more of what we need right here.' 'Cyclic Materials' investment in Mesa is a significant win for Arizona. This new facility will not only create good-paying jobs for our community but also position Arizona as a leader in the critical rare earth element recycling industry, an important step in strengthening our economy and securing a sustainable future,' said Senator Ruben Gallego. Local officials emphasized Cyclic Materials' planned location in strengthening the local workforce and advancing clean energy innovation. 'Investing in the circular economy is vital for Greater Phoenix to continue its development as a world-class region for companies and people,' said Greater Phoenix Economic Council President & CEO Chris Camacho. "Cyclic Materials complements the strong presence of data centers and EV manufacturers in the region, creating a more sustainable supply chain while strengthening the domestic availability of rare earth elements and other critical resources." 'We're proud to welcome Cyclic Materials to Mesa. Their investment brings jobs to our community and positions Mesa as a hub for clean tech innovation and sustainable manufacturing,' said Mayor Mark Freeman. 'This is the kind of forward-thinking industry we want to attract as we build a resilient and green economic future.' 'Cyclic Materials' facility showcases Arizona's global attractiveness for high-tech industries,' said Sandra Watson, President and CEO of the Arizona Commerce Authority. 'With this state-of-the-art facility, Cyclic Materials will strengthen Arizona's renewable energy ecosystem and further our leadership in emerging technologies.' Cyclic Materials raised USD $57 million in its Series B equity round last year, backed by global industry leaders like Microsoft, Hitachi Ventures, BMW iVentures, and specialised funds ArcTern Ventures and Fifth Wall. The initial raise of USD $53 million was extended to include investments from InMotion Ventures and Amazon's Climate Pledge Fund. Together, these investments position Cyclic Materials as a key partner for companies seeking sustainable and circular supply chain solutions, particularly in the automotive and data center industries. This move into the US underscores the critical role Cyclic Materials plays in advancing sustainable supply chains as it expands its footprint across North America with plans to establish operations in Europe. Established in 2021, Cyclic Materials' proprietary technologies are capable of economically and sustainably recovering critical raw materials from end-of-life electric vehicle motors, wind turbines, MRI machines, and data center electronic waste. Over the years, the company has forged strategic partnerships with key industry leaders such as Solvay, Vattenfall, Synetiq, and VACUUMSCHMELZE to recycle magnets containing REEs and establish a circular supply chain. 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 Mag-Cycle SM process to recover rare earth magnets. In 2024, it opened a second facility in Kingston, Ontario, producing Mixed Rare Earth Oxide via its REEPure SM 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. Learn more at
