Natural Resources Canada Invests CAD $9.1M in Cyclic Materials to Strengthen Canada’s Critical Minerals Supply Chain
TORONTO - March 2nd, 2026 - Cyclic Materials, the advanced recycling company building a circular supply chain for rare earth elements (REEs), today announced that Natural Resources Canada (NRCan) has conditionally awarded the company up to CAD $9.1M through its Global Partnerships Initiative (GPI). The investment will accelerate Cyclic’s development of advanced rare earth elements recycling technologies, to reinforce Canada’s critical minerals supply chain.
The announcement was made by The Honourable Tim Hodgson, Canada’s Minister of Energy and Natural Resources at the Canadian Critical Minerals Forum at PDAC 2026 Convention in Toronto. Industry leaders and policymakers gather at the conference to explore innovation and advancement of Canada’s mining industry and critical minerals sector.
“This support from NRCan is a milestone for Cyclic Materials and represents a positive step forward for Canada’s rare earth supply chain development," said Ahmad Ghahreman, CEO of Cyclic Materials. “It enables Cyclic Materials to accelerate our commercialization and expand our capabilities at our Center of Excellence in Kingston, ON, and support our expansion across North America and globally.”
This reinforces Cyclic Materials’ position as a North American leader in critical minerals innovation, and demonstrates the growing maturity of this sector. Rare earths are essential to a wide range of technologies, including AI, vehicles, robotics, and advanced manufacturing. As global demand for critical minerals increases, this investment aligns with Canada’s broader critical minerals strategy to advance domestic recycling and processing, and to secure a circular supply chain for rare earths and critical minerals.
Further details of the NRCan investment can be here.
About Cyclic Materials
Cyclic Materials, founded in 2021, is a cleantech company building a resilient supply chain for rare earth elements (REEs) and other critical materials through recycling of magnet-containing EOL. Its innovative technology transforms end-of-life products into valuable raw materials used in AI, robotics, defense and advanced manufacturing critical to the future of Western industry. With the success of its commercial demonstration, and first successful shipments of very high quality recycled Mixed Rare Earth Oxides (rMREO) to customers, the company is scaling its cutting-edge technology to recover REEs from permanent magnets, leveraging its proprietary MagCycle℠ and REEPure℠ processes to feed strategic industries with secure supply of recycled rMREO. Cyclic Materials is scaling its footprint across North America, Europe and Asia, with Mesa, Arizona hosting its first commercial-scale Spoke facility, and Kingston, Ontario serving as a Centre of Excellence with R&D facility and Hub hydrometallurgical site. The company has also announced plans for its largest-to-date Hub and Spoke campus to be located in South Carolina. The company is expanding its REE recycling infrastructure globally to supply the surging demand for permanent magnets that power our modern world. In recognition of its pioneering work, the company was named Top 10 Climate Tech Companies to Watch by MIT Tech Review in 2025. Learn more at cyclicmaterials.earth.
