Cyclic Materials launches recycling partnership with Synetiq
The Canadian startup Cyclic Materials, which specialises in the recycling of rare earth elements and other metals and is a partner of Polestar and BMW, has entered into a cooperation agreement with Synetiq, a British vehicle recovery and recycling company, for the recycling of electric motors containing rare earths from hybrid and electric vehicles.
This collaboration marks Cyclic Materials’ first raw materials contract abroad. The Canadian company intends to expand its business to Europe from its current base in North America over the coming months. The company was only established in 2021, but already describes itself as an “industry leader.” Cyclic also recently opened a recycling facility named ‘Hub100’; a commercial demonstration plant, deploying its proprietary hydrometallurgical technology to produce mixed rare earth oxide.
The company prides itself in being the first in the world to be able to “separate magnets from end-of-life products, such as electric motors, and then convert this magnet product to mixed rare earth oxides, cobalt-nickel hydroxides and other raw materials,” using its patented ‘Mag-Cycle’ and ‘REEPure’ technologies.
“This relationship marks Cyclic Materials first overseas feedstock contract, a significant milestone as we continue to expand our business from North America across Europe in the months ahead,” said Patrick Nee, senior vice president of strategic partnerships and co-founder of Cyclic Materials, adding: “This agreement represents a notable step forward in our mission to advance sustainable solutions for rare earth recycling to drive the circular economy forward across the globe. Together, we are committed to accelerating industry-wide change in how electric motors are recycled.”
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