What is Cyclic Materials?
Headquartered in Kingston, Canada, Cyclic Materials operates at the intersection of advanced manufacturing and environmental sustainability. The company has developed an innovative, closed-loop recycling process designed to reclaim rare earth elements (REEs) and other essential metals from end-of-life products. By re-circulating these materials back into the manufacturing stream, Cyclic Materials provides a scalable solution to reduce the environmental footprint of the global energy sector while fostering a more resilient, domestic supply chain for critical minerals.
How much funding has Cyclic Materials raised?
Cyclic Materials has raised a total of $157M across 4 funding rounds:
Series A
$27M
Series B
$53M
Other Financing Round
$2M
Series C
$75M
Series A (2023): $27M with participation from Fifth Wall, Bioindustrial Innovation Canada, Energy Impact Partners, BMW, and Planetary Technology
Series B (2024): $53M led by Hitachi Ventures, Fifth Wall, and ArcTern Ventures
Other Financing Round (2025): $2M supported by InMotion Ventures
Series C (2026): $75M featuring Canada Growth Fund and T. Rowe Price
Key Investors in Cyclic Materials
Canada Growth Fund
An independent investment fund with a $15 billion mandate focused on catalyzing private sector investment in Canadian clean technology and low-carbon supply chains.
T. Rowe Price
A global investment management firm providing equity and fixed-income strategies to institutional and individual investors since 1937.
Hitachi Ventures
The corporate venture arm of Hitachi, specializing in early-stage investments across industrial, environmental, and digital infrastructure sectors.
What's next for Cyclic Materials?
With the infusion of capital from its latest financing round, Cyclic Materials is well-positioned to accelerate its industrial scaling efforts. The company is expected to prioritize the expansion of its processing facilities and the optimization of its recovery technology to meet the surging demand for sustainable material inputs. As the global push for decarbonization intensifies, the firm's ability to provide a reliable, secondary source of rare earth elements will likely serve as a cornerstone for future growth, attracting further interest from institutional investors and strategic partners focused on the circular economy.
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