Cyclic Materials, a recycling company creating a circular supply chain for rare earth elements and other critical materials, on April 23 announced it has invested more than $20 million in its first commercial facility, located in Mesa.
The new state-of-the-art facility will be the company’s first global rare earth elements recycling operation focused on the separation of permanent magnets from end-of-life products previously not recovered, using its proprietary MagCycle process, according to a release at the Canadian company’s website.
Cyclic Materials is establishing a feedstock supply network that will serve the entire U.S. While the company has already secured partnerships in the Southwest — a key region with an estimated 155,000 tons per year of end-of-life components from automotive and e-scrap metals — it is actively expanding its reach nationwide to develop a more robust and scalable supply chain., it states.
