Nth Cycle

Nth Cycle focuses on processing and recycling metal waste for recycling and mining companies. The company uses an engineering process called electro-extraction to recover critical minerals such as cobalt and nickel from discarded batteries, low-grade ores, and mine site waste. The company claims that its technology process is cleaner and a cheaper alternative to current pyrometallurgy and hydrometallurgy processes as it uses less electricity, which can be generated from 100% clean renewable power. The electro-extraction is also said to reduce greenhouse gasses by 75% compared to the current production process of critical minerals. Nth Cycle also claims that it can recover over 90% of the target critical minerals. Nth Cycle's business model involves entering into manufacturing contracts with the customers and the company’s initial target market is North America.

In January 2023, the company announced a premium Mixed Hydroxide Precipitate (MHP) nickel intermediary product for nickel sulfate producers, manufactured using the company's patented electro-extraction process, named "The Oyster." In July 2023, Nth Cycle commissioned a 21,000 sq ft refining facility in Fairfield, Ohio, with a capacity to produce 3,000 tons per annum.

Funding and financials

In December 2023, Nth Cycle raised USD 37 million in Series B funding and an additional USD 7 million in non-dilutive financing led by VoLo Earth Ventures. The funds were to be used to commercialize Nth Cycle's initiatives by building a new partner testing facility, growing its commercial team, and expanding its headquarters.