Cyclic Materials Secures USD $53M Series B Funding to Accelerate Global Expansion of Rare Earth Recycling Infrastructure
Cyclic Materials
September 25, 2024
We are supporting the energy transition through environmentally responsible recycling of rare earth elements (REEs) from magnets powering the modern world.
We provide our customers with solutions for recycling
of magnet-containing products made from critical minerals, enabling the creation of a domestic supply chain for REEs through an economic and sustainable magnet recycling process.
As demand grows for wind turbines, electric vehicles, and other electronics, new sources of rare earth elements to support the world’s transition to an electrified society are needed. While new mines are necessary to meet projected demand, having access to recycled material will significantly reduce the need to open new mines.