For the Future: Cyclic Materials secures $53m series B funding backed; Microsoft among investors
Toronto, Ontario — Cyclic Materials has successfully closed an oversubscribed US$53m series B equity round, the company announced on Wednesday. The funding round was led by ArcTern Ventures and supported by new investors: BDC Capital’s Climate Tech Fund, Hitachi Ventures, Zero Infinity Partners, Climate Investment and Microsoft’s Climate Innovation Fund. Existing investors Fifth Wall, BMW […]
Magnetizing Manufacturing: Cyclic Materials launches pilot plant for recycling magnet materials from electric motors
Kingston, Ontario — Cyclic Materials has recently launched a pilot plant in Kingston, Ont., aimed at recycling magnet materials from end-of-life products. The pilot plant project is specifically employing Cyclic’s proprietary technology, Mag-Xtract, which separates rare earth elements in permanent magnets from end-of-life products and parts such as traction electric motors. According to Cyclic Materials, […]
A Natural Attraction: Polestar and Cyclic Materials partner to close loop on rare earth magnet production
Toronto, Ontario — In the effort of tackling environmental challenges on the production line head-on, Polestar has announced that it has teamed up with Kingston, Ont.-based recycling firm Cyclic Materials to develop a circular production solution for rare earth magnets. The valuable rare earth elements within the Polestar 2’s electric motor, namely neodymium and dysprosium, […]
