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Recycling

Cyclic raises $27 million for rare earth recycling

by Matt Blois
May 7, 2023 | A version of this story appeared in Volume 101, Issue 15
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Cyclic Materials has raised $27 million in series A financing to advance its technology for recycling of rare earth elements. Rare earths are used to make magnets required for electric vehicle motors, wind turbines, and electronics. Most rare earth materials are processed in China, and Cyclic says its recycling process would provide an alternative source, thus making supply chains more secure. The company also argues that recycling rare earths has a lower environmental impact than mining.

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