Company Overview
About Cyclic Materials
Cyclic Materials is a Kingston, Ontario-based cleantech company founded in 2021 by Ahmad Ghahreman and Kurt Sarbjit Sauber that has developed a proprietary hydrometallurgical process for recovering rare earth elements (REEs) and other critical materials from end-of-life permanent magnets found in electric vehicle motors, wind turbine generators, hard disk drives, and consumer electronics. Rare earth elements — including neodymium, praseodymium, dysprosium, and terbium — are essential inputs for permanent magnets used in EV drivetrains and clean energy systems, yet supply chains are heavily concentrated in China and dependent on environmentally damaging primary mining.
Business Model & Competitive Advantage
The company raised over $53M in total funding, including a $35M Series A in 2024 led by Energy Impact Partners with participation from BMW iVentures, Hitachi Ventures, Temasek, and others. Cyclic Materials'' Mixed Rare Earth Oxide (MREOx) process can process a wide variety of magnet compositions and end-of-life product types, producing separated rare earth oxides that can be fed back into the magnet manufacturing supply chain — closing the loop on critical material flows for the energy transition. The company operates a demonstration facility in Canada and is scaling toward commercial production.
Competitive Landscape 2025–2026
Cyclic Materials differentiates from primary REE miners by providing a domestic, lower-carbon supply of critical materials derived from urban mining of existing waste streams rather than new extraction. Its strategic position — at the intersection of EV battery supply chain security, critical mineral policy, and circular economy imperatives — has attracted interest from automotive OEMs, defense supply chain initiatives, and governments seeking to reduce dependence on Chinese REE exports. The company''s technology is designed to be feedstock-agnostic, enabling it to process growing volumes of end-of-life EV and wind energy assets as the first wave of these technologies reaches end of life over the coming decade.
Key Differentiators
Emerging Innovator
Cyclic Materials is an emerging player bringing innovative solutions to the Climate & Energy market.
Frequently Asked Questions
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