Cyclic Materials has raised USD 75 million in Series C funding, a significant step as the company works to create a more resilient and circular supply of rare earth elements. The funds will help speed up commercial recycling, grow infrastructure in North America and Europe, and support local supply chains for materials used in electric vehicles, clean energy, advanced electronics, defense, and new technologies like artificial intelligence and robotics.
Rewriting the Rules of Rare Earth Supply
Cyclic Materials is a cleantech company that recycles rare earth elements from old products and industrial waste, especially permanent magnets. These elements are essential for modern technology, but their supply chains are fragile and rely mostly on traditional mining, which has high environmental and geopolitical costs.
Cyclic Materials aims to move from traditional extraction to a circular system that recovers valuable materials from used products. By turning discarded items and scrap into high-quality rare earth materials, the company gives manufacturers a cleaner and more reliable option than mining.
The Visionary Behind the Venture
Ahmad Ghahreman, the CEO, founded Cyclic Materials with the belief that advanced recycling can drive both sustainability and competitiveness. From the start, he set out to make the company a strategic materials platform to help reshape global supply chains.Under his leadership, Cyclic Materials has put significant resources into research and process innovation, building a team with strong science and business skills. This long-term focus has helped the company move from early research to being ready for commercial operations.
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A Vote of Confidence from Global Capital
The USD 75 million Series C round was led by accounts advised by T. Rowe Price Associates on 23 January 2026, showing strong institutional confidence in the company’s technology and growth. The Canada Growth Fund also joined, along with existing investors who increased their support.
With this new funding, Cyclic Materials’ total equity now tops USD 160 million. The size of the investment shows that investors increasingly see rare-earth recycling as a strategic industrial need, not just a niche idea.
Turning Capital into Capacity
The new funds will be used to quickly grow recycling infrastructure in the United States and Europe. Cyclic Materials plans to move from pilot and early commercial work to larger facilities that can handle much more magnet waste and used products. Some of the funding will also go toward more research and development, including work at the company’s Center of Excellence in Kingston, Ontario. The goal is to improve recovery rates, increase material purity, and lower costs so recycled rare earths can compete with mined ones.
Why Recycling Rare Earths Matters Now
Rare earth elements are central to the global energy shift and digital economy, but their production is mostly limited to a few regions. This has made governments and industries worry about supply security, trade problems, and strategic risks.
Cyclic Materials’ recycling-driven model addresses these challenges by enabling local and allied production of critical materials. In doing so, it supports national industrial strategies, reduces environmental impact, and aligns with broader sustainability and decarbonization goals.
Building the Backbone of a Circular Future
With Series C funding in place, Cyclic Materials is setting itself up as a key player in the future of materials supply chains. As demand for electric vehicles, renewable energy, and advanced electronics grows, having access to sustainable rare earth materials will be more important than ever.
This funding round is more than just new capital. It shows a bigger change in how investors, industries, and governments see recycling as a key part of the critical material supply chain. For cyclic materials, it is a major step toward making rare earth recycling a global standard instead of just an alternative.
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