Recycling | Cyclic Materials Signs Agreement with Synetiq to Recycle Rare Earth Elements from Vehicle Motors

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Recycling | Cyclic Materials Signs Agreement with Synetiq to Recycle Rare Earth Elements from Vehicle Motors

Date：2024-08-14

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Keyword tags： Recycling Rare Earth NA

Canadian startup Cyclic Materials, a pioneer in the recycling of rare earth elements and other critical metals, has recently entered into a partnership agreement with Synetiq, a British company specializing in vehicle recovery and recycling. Under this agreement, Synetiq will supply Cyclic Materials with electric motors from scrapped hybrid and electric vehicles that contain rare earth elements for refining and recycling purposes.

This marks the first time Cyclic Materials has signed a raw material supply contract with a provider outside of Canada. The company plans to continue expanding its operations from North America to Europe in the coming months.

Cyclic Materials' proprietary Mag-Cycle™ and REEPure™ technologies are the first in the world capable of separating magnets from end-of-life products such as electric motors and then converting these magnet products into mixed rare earth oxides, cobalt-nickel hydroxides, and other raw materials. The raw materials from Synetiq will be received by Cyclic Materials' "spoke" facilities and processed using the Mag-Cycle™ smelting technology, before being sent to Cyclic Materials' "Hub100" plant for further processing using the REEPure™ rare earth refining technology.

By collaborating with Cyclic Materials' refining facilities, Synetiq's recycling and dismantling operations can maximize the value of rare earth materials recovered from electric motors in hybrid and electric vehicles, as well as small motors from internal combustion engine vehicles.

In December 2023, Cyclic Materials began operations at its pilot plant in Kingston, Ontario, using Mag-Xtract™ technology to process 8,000 metric tons of end-of-life magnetic materials from wind turbine generators, MRI machines, and other sources such as automotive parts and manufacturing scrap.

In early June of this year, Cyclic Materials opened its "Hub100" commercial demonstration plant in Kingston, Ontario, the first in North America to produce recycled mixed rare earth oxides (rMREO) using its proprietary hydrometallurgical technology REEPure™. The Hub100 plant is designed to recycle 100 tons of magnetic material per year, producing recycled mixed rare earth oxides (rMREO) that can be reused in the rare earth magnet supply chain, as well as nickel and cobalt hydroxides.

In mid-June, Cyclic Materials signed a supply agreement with Solvay, a Belgian supplier of catalyst and electronic rare earth materials, to begin supplying recycled mixed rare earth oxides (rMREO) to Solvay in late 2024.

Founded in 2021, Cyclic Materials is dedicated to recovering rare earth elements and other critical minerals such as neodymium, praseodymium, dysprosium, and terbium from end-of-life motors of hybrid and electric vehicles, wind turbine generators, MRI machines and hard disk drives (HDDs), enhancing resource efficiency and reducing carbon footprint and water usage to support the electrification development in Canada, North America, and globally, to establish a sustainable circular economy.

The company has received investments from financial institutions such as BMW i Ventures and Microsoft's Climate Innovation Fund etc.

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