Cyclic Materials recovers high-purity rare earth elements (REEs) from end-of-life products to close the materials loop. This process establishes a secure, local supply chain that significantly reduces reliance on environmentally costly mining operations. The company provides essential materials for modern technology while lowering carbon emissions and water usage compared to virgin resources.
Funding
$84.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The increasing demand for rare earth elements (REEs) in technologies like electric vehicles and wind turbines is creating a supply shortage. Traditional mining of REEs has significant environmental consequences, including high CO₂ emissions and habitat disruption. Current recycling efforts for REEs are limited, leading to landfill accumulation of valuable materials.
Solution
Cyclic Materials addresses the REE supply challenge by offering a recycling solution for end-of-life magnet-containing products. Their proprietary process, Mag-Xtract and Hydrometallurgy, recovers REEs from these products, creating a circular supply chain. Compared to traditional mining, this recycling method significantly reduces CO₂ emissions and lessens the need for new mining operations. By recovering REEs from landfill-bound products, Cyclic Materials provides a more environmentally sustainable source of these critical metals for domestic industries.
Target Audience
The primary target audience includes manufacturers of electric vehicles, wind turbines, MRI machines, and other electronics that rely on rare earth magnets, as well as recycling companies and waste management facilities seeking sustainable solutions for end-of-life products.
Features
- Proprietary Mag-Xtract technology for efficient separation of magnets from end-of-life products
- Hydrometallurgical process to extract and refine rare earth elements from recycled magnets
- Closed-loop recycling system minimizing waste and environmental impact
- Production of recycled REEs with a significantly lower carbon footprint compared to mined materials
- Creation of a domestic supply chain for REEs, reducing reliance on international sources