TORONTO - August 8, 2024 - Cyclic Materials, an advanced metals recycling company building a circular supply chain for rare earth elements and other critical metals, has announced the signing of a collaboration agreement for the recycling of electric motors containing rare earths with SYNETIQ, an IAA company and the U.K.'s leading integrated vehicle salvage and recycling company. The motors to be supplied by SYNETIQ include drive motors in hybrid and electric vehicles, as well as auxiliary motors present in all vehicles.
“This relationship marks Cyclic Materials first overseas feedstock contract, a significant milestone as we continue to expand our business from North America across Europe in the months ahead. Partnering with SYNETIQ was a clear decision, as both companies are committed to circular alternatives, specifically for electric motors,” said Patrick Nee, senior vice president of strategic partnerships and co-founder of Cyclic Materials. “This agreement represents a notable step forward in our mission to advance sustainable solutions for rare earth recycling to drive the circular economy forward across the globe. Together, we are committed to accelerating industry-wide change in how electric motors are recycled.”
Established in 2021, Cyclic Materials is an industry leader developing technologies that are capable of economically, sustainably and domestically transforming end-of-life (EOL) products into valuable raw materials. The recycling of rare earths delivers significant environmental benefits in comparison to mining processes, including a reduced carbon footprint and water usage. Cyclic Materials recently opened its Kingston-based “Hub100” commercial demonstration plant, deploying its proprietary hydrometallurgical technology, REEPure™, and helping fulfill the ever-increasing demand for domestic sources of mixed rare earth oxide (MREO) in North America.
Michael Hill, operations director of SYNETIQ, commented "We are excited to announce SYNETIQ's new collaboration with Cyclic Materials. At the core of our circular model, this agreement exemplifies our commitment to sustainability, innovation, and responsible practices."
Cyclic Materials' proprietary Mag-Cycle™ and REEPure™ technologies are the first in the world with the capacity to separate magnets from end-of-life products, such as electric motors, and then convert this magnet product to mixed rare earth oxides, cobalt-nickel hydroxides and other raw materials. Feedstock from SYNETIQ will be received by Cyclic Materials' "spoke" facility and processed with Mag-Cycle™ before ultimately sent to Cyclic Materials' "Hub100" plant for processing using REEPure™ technology.
Salvage and dismantling yards, like those operated by SYNETIQ, can maximize the materials and value recovered from hybrid and electric vehicles, as well as smaller motors in internal combustion engine vehicles, through partnerships such as this one with Cyclic Materials.
To learn more about Cyclic Materials, please visit https://www.cyclicmaterials.earth
About Cyclic Materials
Established in 2021, Cyclic Materials is a cleantech company creating a circular supply chain for rare earth elements and other materials critical to supporting the energy transition. Through its innovative technology, the company economically, sustainably and domestically transforms end-of-life products into valuable raw materials that are essential to the production of electric vehicles, wind turbines and motors for the electronics we use in our daily lives. In 2024, Cyclic opened its Hub100 plant in Kingston, Ontario – the first facility to produce recycled Mixed Rare Earth Oxide (rMREO) in North America using its proprietary hydrometallurgical technology, REEPure™. With the global market for magnet rare earth elements forecasted to increase dramatically by 2030, establishing new sources of these critical elements is vital to support the electrification of the economy across the globe. Cyclic plans to scale its technology in North America, Europe and Asia. To learn more, visit cyclicmaterials.earth.
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