Canadian rare earth recycler Cyclic Materials raises $75M to scale U.S. production
Cyclic Materials will use the new capital to accelerate expansion of its industrial recycling system to collect, break down and refine rare earth elements from end-of-life electronics and magnets.
Cyclic Materials announced Thursday that it closed a $75 million financing round from accounts advised by T. Rowe Price Associates Inc., which first invested in Cyclic Materials in 2025. (Photo via Cyclic Materials)
(Photo via Cyclic Materials)
A Canadian company that established its first U.S. commercial facility in Mesa raised a new round of cash to scale domestic production of rare earth elements and critical minerals.
Cyclic Materials announced Thursday that it closed a $75 million financing round from accounts advised by T. Rowe Price Associates Inc., which first invested in Cyclic Materials in 2025.
The recent financing round brings Cyclic Materials’ total equity funding to $237 million with previous backing from investors that include Energy Impact Partners, Microsoft, Amazon, BMW iVentures, Jaguar Land Rover and Hitachi Ventures, among others.
“The continued support of our investors is enabling us to build vital U.S. rare earth infrastructure at a time when it has become a national priority,” Ahmad Ghahreman, founder and CEO of Cyclic Materials, said. “This additional capital will enable us to move faster in South Carolina and across the U.S., accelerate the expansion of our hub-and-spoke network, produce more rare earths and critical minerals domestically and return them to American manufacturing.”
Cyclic Materials, which is headquartered in Toronto, will use the new capital to accelerate expansion of its industrial recycling system to collect, break down and refine rare earth elements from end-of-life electronics and magnets.
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
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Comments
3 Comments
China is actually mining rare earth materials and one day could hold the world hostage with all of their reserves--what we currently see happening in Iran with oil.
Meanwhile, we are dedicated to recycling this material from discarded batteries, magnets, and etc.
On another front, their robot technology is far superior and light years ahead of us.
Drone warfare and production?
All of this should raise concern, NOT...
The Lake of Ontario
The Gulf of Mexico
The President Donald J. Trump Ballroom
The Kennedy Center
The Reflecting Pool
Miniscule traces of voter fraud
Meanwhile, the oligarch regime continues to loot from the American taxpayers. Latest example:
"House Judiciary Committee Ranking Member Jamie Raskin, D-Md., sent a letter to 1789 Capital Management on August 26 demanding records on how three of its portfolio companies won billions of dollars in federal contracts and regulatory reversals in less than two years, according to Common Dreams. The letter names Donald Trump Jr., a partner at the firm, along with company president Omeed Malik and chief investment officer Christopher Buskirk, and sets a September 9 deadline for a response."
These are all private companies that are making money only because Donny's government is giving them our money.
Subcommittee Chairman Paul Gosar, R-Ariz., blocked an earlier investigation into this thievery by the family.
More of this is needed. We need to drill, mine as much of the critical minerals we can to break China's monopoly on these vastly needed mineral resources.