Cyclic Materials Raises $75 Million to Expand Rare Earth Recycling for AI and Robotics

Cyclic Materials has raised $75 million in an oversubscribed Series C equity round, its largest to date, announced in a press release. The funding will accelerate the company’s expansion of rare earth recycling operations in the US and Europe and strengthen its research and development base in Canada.

The round was led by accounts advised by T. Rowe Price Associates, with participation from existing investors and the Canada Growth Fund. With this investment, Cyclic Materials’ total equity funding exceeds $162 million. The company plans to use the new capital to deploy rare earth recycling infrastructure across the US, providing a secure and locally sourced supply of critical materials used in AI data centers, robotics, defense, and advanced manufacturing.

Cyclic Materials operates a two-stage recycling process that recovers rare earth elements from end-of-life products and magnet production waste. Its first large-scale US facility in Mesa, Arizona, focuses on recycling heavy and light rare earth magnets, while its Center of Excellence in Kingston, Ontario, continues to advance proprietary hydrometallurgical technologies.

The company’s technology, which recovers materials from electric vehicle motors, wind turbines, MRI machines, and data center waste, offers a faster and lower-impact alternative to traditional mining. Cyclic Materials reports that its approach cuts carbon emissions by over 60% and reduces water use to 5% of that required for mining, supporting the growing demand for rare earth elements in AI and other high-tech sectors.