The Canadian company will recycle 100% of the magnet production by-products.
German magnet materials manufacturer Vacuumschmelze (VAC) and Canadian recycling startup Cyclic Materials have expanded their collaboration with a 10-year exclusive agreement focused on magnet recycling. Under the deal, Cyclic will recycle 100% of the magnet production by-products from VAC’s facility in South Carolina, which is expected to begin operations later this year. It also includes the option to supply the recycled rare earth elements back to VAC, enabling the reintegration of the material into new magnet production. The new agreement builds on the companies’ previous partnership, signed in early 2024 (we reported).
Founded in 2021, Cyclic Materials has developed proprietary technology to recover rare earth elements (REEs) from end-of-life products and other feedstocks. Prominent investors, including Microsoft, Amazon, BMW iVentures, and others, back the company.
In April 2025, Cyclic Materials announced a $20 million investment in its first U.S. commercial facility in Mesa, Arizona, marking a significant step in its North American expansion.
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