Cyclic Materials, a Canadian advanced metals recycling company focused on producing critical materials, has expanded to process two new streams, wind turbine generators and MRI machines. The company aims to create a circular supply chain that feeds these critical metals back into the North American and European markets.

The company's proprietary Mag-Xtract and hydrometallurgy technology can separate magnets from any product at the end of its life and convert that into mixed rare-earth oxides, cobalt-nickel hydroxides, and other valuable raw materials. Wind turbine generators and MRI machines are particularly rich in rare commodities like neodymium, praseodymium, dysprosium, terbium, and copper, which are vital in manufacturing various modern technologies.

Analyst QuickTake: In April 2023, the company raised USD 27 million in a Series A round to support scaling up its global footprint and technology. The new recycling streams add to Cyclic materials’ existing processing capacity of 8,000 metric tonnes per year, where its major streams have been auto parts and other products containing permanent magnets.