Cyclic Materials has closed a $75-million Series C equity round to scale its rare earth element recycling operations across the US and Europe and accelerate its Canada-based research and development footprint. The company says the funding will speed deployment of locally anchored recycling infrastructure for magnet-containing end-of-life scrap and magnet production waste—materials it processes to produce magnet rare earth elements, including heavy rare earth elements that it notes are less commonly available from Western mining deposits.

Cyclic Materials says that the new capital will support commercial rollout and global expansion with “a substantial focus” on North American market needs.

Cyclic Materials operates a two-stage physical and hydrometallurgical recycling technology to produce rare earth elements from end-of-life products and magnet production waste. It claims its approach reduces carbon footprint by 61.2%, cuts water use to five percent of what mining requires, and achieves recovery rates exceeding 98%. The company also says its recycling infrastructure can be deployed years faster than traditional mining projects, and it positions the system as a pathway to supply heavy rare earths used in high-performance permanent magnets.

Cyclic Materials says its proprietary technologies can economically and sustainably recover critical raw materials from end-of-life electric vehicle motors (as well as wind turbines, MRI machines, and data center electronic waste). The company links these feedstocks to demand growth in e-mobility and other permanent-magnet-driven systems.

Source: Cyclic Materials