Cyclic Materials, the advanced recycling company creating a circular supply chain for rare earth elements (REEs) and other critical materials, announced it has invested over US $20M in its first commercial facility, located in Mesa, Arizona.
The new facility will be the company’s first global REE recycling operation, using its proprietary MagCycle process to separate permanent magnets from end-of-life products previously not recovered. It will help strengthen the electric vehicle (EV) supply chain by recovering rare earth elements from end-of-life EV motors, supporting domestic production of critical components in EV traction systems.
Cyclic Materials is establishing a feedstock supply network to serve the entire US as part of the company’s commitment to building a sustainable ecosystem. While the company has already secured partnerships in the Southwest — a key region with an estimated 155,000 tons per year of end-of-life components from automotive and e-scrap metals — it’s 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 over 30 jobs required to operate the plant. The new plant will help drive innovations in the electronic scrap and metal recycling industry while supporting local economic growth.
State officials welcomed the news, praising it as a major step toward economic growth and job creation in the region.
Cyclic Materials raised $57 million in its Series B equity round last year, backed by global industry leaders like Microsoft, Hitachi Ventures, BMW iVentures, and specialised funds ArcTern Ventures and Fifth Wall. The initial raise of $53 million was extended to include investments from InMotion Ventures and Amazon’s Climate Pledge Fund.
Together, these investments position Cyclic Materials as a key partner for companies seeking sustainable and circular supply chain solutions, particularly in the automotive and data center industries. This move into the US underscores the critical role Cyclic Materials plays in advancing sustainable supply chains as it expands its footprint across North America with plans to establish operations in Europe.
Filed Under: Batteries, Technology News