The funding brings total equity raised to over $83 million and will enable it to fast-track its international growth, the company said in a news release.
Established in 2021, Cyclic Materials said its 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 past year, the company forged partnerships with industry players Solvay, Vattenfall, Synetiq, and VACUUMSCHMELZE to recycle magnets containing REEs and establish a circular supply chain.
Cyclic will deploy the capital to build rare earth recycling infrastructure in the US and Europe, and grow its team to support its operations. The company said its process of recycling these rare earth materials from magnets achieves significant environmental benefits in comparison to traditional mining processes, including a…
