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Cyclic Materials, a cleantech leader in rare earth element recycling, has received a $2 million investment from InMotion Ventures, the investment arm of JLR. This latest funding extends the company’s Series B round to $55 million, reinforcing its mission to create a circular supply chain for critical materials used in electric vehicles and other industries. The funds will help establish commercial facilities in North America and Europe, advancing sustainable practices in rare earth recycling.
Key Highlights
- Series B Funding Grows to $55 Million: The investment from InMotion Ventures complements earlier contributions from industry giants like Microsoft, Hitachi, and BMWi.
- Focus on Rare Earth Recycling: Cyclic Materials’ proprietary MagCycle℠ and REEPure℠ technologies enable the recovery of rare earth elements (REEs) from end-of-life products, addressing a global supply-demand imbalance.
- Sustainable Automotive Focus: InMotion Ventures’ investment aligns with its support for circular economy innovations, benefiting automotive and renewable energy sectors.
- Global Expansion Plans: The funding will accelerate the company’s efforts to deploy recycling infrastructure in the US, Europe, and Asia, bolstering sustainable supply chains worldwide.
Ahmad Ghahreman, CEO of Cyclic Materials, expressed enthusiasm for the partnership, stating, “Their investment highlights the surging importance of sustainable solutions in the automotive industry. We are honored to have one of the UK’s most active corporate funds as partners.”
Addressing a Growing Need for Rare Earths
Rare earth elements are integral to electric vehicles, wind turbines, and consumer electronics, yet less than 1% are currently recycled. With demand projected to triple by 2030, Cyclic Materials is poised to lead the way in transforming end-of-life products into valuable raw materials, essential for the clean energy transition.
Cyclic Materials’ expanded funding positions the company as a critical partner in building sustainable supply chains, ensuring that rare earth recycling supports the electrification of the global economy.
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