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Cyclic Materials

Amazon Invests in Ontario’s Cyclic Materials

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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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Cyclic Materials Extends Series B with $2M Investment

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Toronto-based Cyclic Materials, specializing in recycling rare earth elements, has secured an additional $2M from InMotion Ventures, Jaguar Land Rover’s investment arm, bringing its Series B funding to $55M.

Cyclic’s proprietary technologies, MagCycle and REEPure, create a circular supply chain for critical minerals, reducing CO₂ emissions and dependency on new mining. Rare earth elements are vital for EVs, wind turbines, and electronics, yet less than 1% are recycled.

CEO Ahmad Ghahreman emphasized expanding operations across North America and Europe, backed by partners like Microsoft, Hitachi, and BMWi. Total funding now exceeds US$80M.

Want to know more? Check out the source code on CleanEnergy.ca.

Cyclic Materials Raises $53 Million to Expand Rare Earth Recycling

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Toronto-based Cyclic Materials, an advanced recycling company focused on rare earth elements (REEs), has closed an oversubscribed USD $53 million Series B equity round. Led by ArcTern Ventures, the round included new investors like BDC Capital’s Climate Tech Fund and Microsoft’s Climate Innovation Fund.

The company will use the capital to expand its recycling infrastructure in the US and Europe, reducing the environmental impact of rare earth recovery. CEO Ahmad Ghahreman emphasized the importance of sustainability in the clean energy transition. Cyclic Materials aims to re-establish North American and European leadership in rare earth recycling.

Want to know more? Check out the source code on CleanEnergy.ca.