Cyclic Materials, a Canada-based advanced recycling company creating a circular supply chain for rare earth elements (REEs) and other critical materials, has invested more than USD $20M in its first commercial facility, located in Mesa, Arizona. The new state-of-the-art facility will be the company’s first global REE recycling operation focused on the separation of permanent magnets from end-of-life products previously not recovered, using its proprietary MagCycle process.

As part of the company’s commitment to building a sustainable ecosystem, Cyclic Materials is establishing a feedstock supply network that will serve the entire US. While the company has already secured partnerships in the Southwest—a key region with an estimated 155,000 tonnes per year of end-of-life components from automotive and e-scrap metals—it is actively expanding its reach nationwide to develop a more robust and scalable supply chain.

Recruitment for the first hires at the Mesa facility is expected to begin in Q2 2025, to fill the more than 30 jobs required to operate the plant.

Cyclic Materials raised US$57 million in its Series B equity round last year, backed by global industry leaders such as Microsoft, Hitachi Ventures, BMW iVentures, and specialised funds ArcTern Ventures, Fifth Wall, Energy Impact Partners and BDC. The initial raise of USD $53 million was extended to include investments from InMotion Ventures and Amazon’s Climate Pledge Fund.

Established in 2021, Cyclic Materials’ 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. T

In 2023, the company launched a commercial demo facility using its Mag-Cycle process to recover rare earth magnets. In 2024, it opened a second facility in Kingston, Ontario, producing Mixed Rare Earth Oxide via its REEPure hydrometallurgical process.

The company has forged strategic partnerships with key industry leaders such as Solvay, Vattenfall, Synetiq, and VACUUMSCHMELZE to recycle magnets containing REEs and establish a circular supply chain.