Amazon is backing Cyclic Materials, a Canadian rare-earths recycler, through its Series B round, bolstering efforts to strengthen the critical minerals supply chain. Though terms were undisclosed, the investment will help the Toronto- and Kingston-based startup expand into the U.S. and Europe.
Amazon’s Climate Pledge Fund sees value in reclaiming rare earth elements from devices like hard drives, said fund principal Nick Ellis. Cyclic recovers metals from motors, MRI machines, and wind turbines—key components in a growing clean economy. The move aligns with Amazon Web Services’ $100B AI data centre expansion and U.S. priorities under President Trump.
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