Cyclic Materials, a Canadian advanced metals recycling company focused on producing critical materials, has partnered with Solvay, a multinational chemical company, to supply Solvay with recycled mixed rare earth oxide (rMREO).

Initiated by a memorandum signed in 2023, this partnership has since confirmed Cyclic's product's commercial and technical fit with Solvay's rare earth separation method. Solvay plans to use Cyclic's rare earth materials in its sustainable efforts to build a hub for a permanent magnet value chain in France. This hub will serve customers in the electric vehicle, wind power, and electronics markets by 2025.

Analyst QuickTake: The supply agreement marks the company closing the loop for its critical metals. In March 2024 , the Cyclic partnered with Vacuumschmelze to recycle by-products containing critical materials in high-performance permanent magnets. The company also expanded the capabilities of its Mag-Xtract and hydrometallurgy technology in February 2024 to cover wind turbines and MRIs to extract valuable minerals.