Founded in 2021, Cyclic Materials has developed a two-stage physical and hydrometallurgical process, marketed as MagCycle℠ and REEPure℠, to extract rare earth elements (REEs) from end-of-life products and magnet production waste. The system delivers a 61.2% lower carbon footprint, cuts water use to 5% of traditional mining requirements, and achieves recovery rates exceeding 98%. Its technology supplies mixed rare earth oxides (rMREO) essential for permanent magnets used in AI data centers, robotics, defense systems, e-mobility and automated manufacturing. Commercial momentum includes a forthcoming Spoke facility in Mesa, Arizona, a Hub and Center of Excellence in Kingston, Ontario, and a 10-year agreement to recycle 100% of VACUUMSCHMELZE’s magnet by-products from its new South Carolina plant. Cyclic Materials also partners with Solvay and Lime Micromobility to secure feedstock streams. Following the latest raise, total equity funding tops USD $162 million, enabling rapid expansion across North America and Europe. The company aims to anchor resilient, locally sourced REE supply chains that traditional mining cannot match in speed or sustainability.

Total raised

$157M

Funding rounds

5

Latest round

Series C

Latest activity

Jan 2026