Cyclic Materials Expands Rare Earths Supply Chain with Synetiq Partnership

Cyclic Materials, a Canadian metals recycling company, has signed a groundbreaking agreement with Synetiq, a vehicle recycling firm based in Yorkshire, UK, to source electric motors containing rare earth elements. This marks Cyclic's first feedstock contract with a company outside North America, signifying a major step in its global expansion.

Synetiq, which specializes in vehicle salvage, dismantling, and recycling in the UK, will supply Cyclic with drive motors from hybrid and electric vehicles, as well as auxiliary motors from all types of vehicles. These motors will be processed at Cyclic's "spoke" facility using their proprietary Mag-Cycle technology. The processed materials will then be sent to Cyclic’s Hub100 plant in Ontario, Canada, for further refinement using Reepure technology.

Cyclic's advanced technologies are designed to extract magnets from end-of-life products like electric motors and convert them into valuable raw materials, including mixed rare earth oxides and cobalt-nickel hydroxides. This process is part of Cyclic's broader strategy to create a circular supply chain for rare earth elements, initially focused on North America but now extending into Europe.

This partnership with Synetiq follows a series of strategic collaborations by Cyclic. Recently, Cyclic has been working with Sims Lifecycle Services (SLS), a division of the ASX-listed metal recycler Sims, to trial their method of extracting rare earth materials from disposed hard drives. This innovative method, which has received support from Microsoft's Climate Innovation Fund, demonstrates Cyclic's commitment to sustainable recycling practices. Additionally, earlier this year, Cyclic partnered with Vacuumschmelze to recycle rare earth magnets as part of the latter’s expansion in the US and secured a deal to supply recycled mixed rare earth oxide to Solvay’s plant in La Rochelle, France, starting in late 2024.