Cyclic Materials is a technology company.
Cyclic Materials has raised $80.0M across 2 funding rounds.
Cyclic Materials has raised $80.0M in total across 2 funding rounds.
Cyclic Materials has raised $80.0M in total across 2 funding rounds.
Cyclic Materials's investors include Amazon Climate Pledge Fund, ArcTern Ventures, BMW i Ventures, BP Ventures, Energy Impact Partners, Fifth Wall, Hitachi Ventures, Kompas VC, Microsoft, Pario Ventures, Ironspring Ventures, McRock Capital.
Cyclic Materials is a cleantech company founded in 2021 that develops proprietary recycling technologies to recover rare earth elements (REEs) and critical metals like copper, nickel, cobalt, aluminum, and steel from end-of-life products such as electric vehicle motors, wind turbines, MRI machines, hard disk drives, and data center waste[1][2][3][4][5][6]. It serves industries including automotive, renewable energy, electronics, and medical sectors by producing high-quality recycled materials like mixed rare earth oxide (rMREO), mixed hydroxide precipitate (MHP), and clean metals, solving the problem of supply chain vulnerability to mining-dependent REEs while reducing environmental impact through a circular, domestic North American process[1][2][3][5][6]. The company demonstrates strong growth momentum, including a $53M Series B funding round, commercial demonstration facilities in Kingston, Ontario (launched 2023-2024), a first U.S. spoke facility in Arizona, ISO certifications, and partnerships with Arnold Magnetic Technologies, Solvay, Vattenfall, Synetiq, and VACUUMSCHMELZE[1][3][4][6].
Cyclic Materials was established in 2021 following seed funding to pioneer rare earth recycling technologies and build a circular supply chain, led by CEO and Co-Founder Ahmad Ghahreman, a materials science expert whose background drove the company's focus on advanced metals recycling[1][3][4][6]. The idea emerged from recognizing the need for a secure North American supply of REEs amid global dependencies, evolving from vision to reality through early development of Mag-Cycle™ (for magnet separation) and REEPure™ (hydrometallurgical refinement) technologies[2][3][6]. Pivotal moments include a $3.6M grant from Canada's Sustainable Development Technology Council in 2023, commissioning of a 100-tonne/year commercial demo facility in Kingston, ON, closure of $53M Series B funding, first multi-tonne shipments of recycled MREO, securing ISO 9001/14001/45001 and R2 certifications, and announcing U.S. expansion to Mesa, Arizona[1][3][4][6].
Cyclic Materials stands out in the recycling sector through its end-to-end, hub-and-spoke model that processes diverse e-waste feedstocks without pre-dismantling, enabling scalable, low-cost recovery of REEs and metals rivaling virgin quality[2][3].
Cyclic Materials rides the clean energy transition trend, addressing REE supply shortages critical for EVs, wind turbines, and electronics amid geopolitical risks from China-dominated mining[1][2][3][6]. Timing is ideal with rising demand for domestic, sustainable sourcing—U.S. and Canadian policies favor reshoring, amplified by IRA incentives and EU critical materials acts—positioning Cyclic to reduce mining reliance and waste[2][4][6]. Market forces like e-waste growth and net-zero goals favor its low-impact recycling, influencing the ecosystem by enabling circular chains for partners, re-establishing North American REE leadership, and scaling infrastructure to support gigafactory and renewable deployments[1][3][5][6].
Cyclic Materials is poised for global expansion with its U.S. spoke in Arizona launching commercial operations, leveraging Series B capital to build full-scale hubs and deepen partnerships for closed-loop recycling[3][4][6]. Trends like accelerating EV/wind adoption, stricter supply chain regulations, and e-waste volumes will propel growth, potentially capturing a slice of the $20B+ REE market while advancing sustainability metrics. Its influence may evolve from pioneer to infrastructure backbone, powering resilient clean tech ecosystems and diminishing mining dominance, fulfilling its founding mission of a secure circular supply chain[1][2][6].
Cyclic Materials has raised $80.0M across 2 funding rounds. Most recently, it raised $53.0M Series B in September 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Sep 1, 2024 | $53.0M Series B | Amazon Climate Pledge Fund, ArcTern Ventures, BMW i Ventures, BP Ventures, Energy Impact Partners, Fifth Wall, Hitachi Ventures, Kompas VC, Microsoft, Pario Ventures | |
| Apr 1, 2023 | $27.0M Series A | BMW i Ventures, Energy Impact Partners, Ironspring Ventures, McRock Capital, Scale Venture Partners, Schematic Ventures |