Cyclic Materials, a Toronto-based company specializing in recycling rare earth elements and other metals, will partner with Germany’s Vacuumschmelze GmbH & Co. KG (VAC) to recycle EV motor magnets.
The companies will recycle byproducts in North America using Cyclic Materials’ proprietary magnet recycling processes. This collaboration is expected to yield recycled raw materials with up to 75 percent lower carbon footprint compared to mined raw materials. This will enable VAC’s customers to source environmentally friendly rare earth magnets with lower Scope 3 emissions. Manufacturers can then use these magnetic components to meet their net-zero production goals.
VAC produces rare earth neodymium-iron-boron (NdFeB) magnets, which are utilized in the automotive, defense, industrial, and renewable energy sectors. The company recently announced plans to construct a magnet manufacturing plant for its e-VAC Magnetics subsidiary in the United States, a project that has received support from the U.S. Department of Defense.
Cyclic Materials, established in 2021, aims to create a circular supply chain for rare earth elements and other materials critical to electrification. In 2023, the company secured $27 million in funding, with contributions from BMW i Ventures, Energy Impact Partners (EIP), Fifth Wall, and Bioindustrial Innovation Canada (BIC).
Ahmad Ghahreman, co-founder and CEO of Cyclic Materials, stated, “Cyclic Materials’ mission is to ensure all permanent magnets are recycled back into the supply chain, reducing the pressure to open new mines. Our partnership with VAC will bring us closer to achieving our goal. VAC will provide local sources of raw materials and decades of experience in rare earth magnet technology, making a Western supply chain for rare earth elements possible.”
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