Rare earths recycler Cyclic Materials to invest over $20M in first commercial facility in the US

Canadian rare earth and metals recycler Cyclic Materials announced Wednesday it has invested over $20M in its first commercial facility located in Mesa, Arizona.

The new facility will be the company’s first global REE (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.

REEs are an essential component of permanent magnets, which are found in data centers, wind turbines, cell phones, electric vehicles and military applications.

The facility is expected to process 25,000 tonnes of end-of-life components containing rare earth permanent magnets a year.

Cyclic said it is establishing a feedstock supply network that will serve the entire US, and while it has secured partnerships in the Southwest, it is actively expanding its reach nationwide to develop a more robust and scalable supply chain.

“We are excited to begin commercial operations in the US in early 2026,” CEO Ahmad Ghahreman said in a news release. “We have chosen the Southwest for our first US and global site to be close to feedstock that will support our mission to address the global supply-demand imbalance for rare earth materials.

“By developing circular supply chains, we can reduce dependence on overseas sources and secure a more stable REE supply for the future,” he added.

“This new facility will not only create good-paying jobs for our community but also position Arizona as a leader in the critical rare earth element recycling industry, an important step in strengthening our economy and securing a sustainable future,” Senator Ruben Gallego stated.

Cyclic Materials raised $57 million in its Series B equity round last year, backed by global industry leaders including Microsoft, Hitachi Ventures, BMW iVentures, and specialized funds ArcTern Ventures and Fifth Wall.

In January, it secured $2 million from InMotion Ventures, the investment arm of Jaguar Land Rover.