What is Nth Cycle?
Established in 2017 and headquartered in Beverly, Massachusetts, Nth Cycle is at the forefront of metal processing technology, serving both recyclers and miners. The company has developed a proprietary modular "Oyster" refining system designed for electro-extraction. This innovative technology enables the domestic recovery and refining of critical minerals such as nickel, cobalt, copper, and rare earth elements. Nth Cycle's approach offers a lower environmental impact compared to traditional refining methods, positioning it as a key player in the circular economy and the drive for sustainable resource management.
How much funding has Nth Cycle raised?
Nth Cycle has raised a total of $62.2M across 4 funding rounds:
Grant
$250K
Series A
$12.5M
Series B
$44M
Debt
$5.5M
Grant (2021): $250K with participation from MassCEC
Series A (2022): $12.5M led by Frankstahl and Volo Earth
Series B (2023): $44M supported by VoLo Earth Ventures
Debt (2026): $5.5M, investors not publicly disclosed
Key Investors in Nth Cycle
VoLo Earth Ventures
VoLo Earth Ventures is a venture capital firm that provides early-stage funding and leadership to companies transforming the global energy economy, with a specialization in energy systems, mobility, and industrial solutions.
Frankstahl
Frankstahl is a trading company specializing in steel and pipe products, possessing extensive knowledge of metal materials and serving construction, manufacturing, and industrial sectors.
MassCEC
The Massachusetts Clean Energy Center (MassCEC) is a publicly funded agency dedicated to accelerating the success of clean energy technologies, companies, and projects within Massachusetts.
What's next for Nth Cycle?
With its recent Series B financing and a history of strategic investments, Nth Cycle appears to be in a scaling phase, poised for significant expansion. The company's focus on domestic critical mineral processing aligns with global trends towards supply chain resilience and reduced reliance on foreign sources for essential materials. Future growth is likely to involve expanding its refining capacity, forging new partnerships with recyclers and miners, and potentially developing its technology for a wider range of materials or applications. The strategic nature of its recent backing suggests a focus on market penetration and operational enhancement.
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