Cyclic Materials and SYNETIQ to recycle rare earth elements from vehicle motors
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2024-08-12
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Cyclic Materials has signed a collaboration agreement to recycle electric motors containing rare earth metals with SYNETIQ, a UK IAA company. The motors to be supplied by SYNETIQ include drive motors in hybrid and electric vehicles, as well as auxiliary motors present in all vehicles."This relationship marks Cyclic Materials' first overseas feedstock contract, a significant milestone as we continue to expand our business from North America across Europe in the months ahead. Partnering with SYNETIQ was a clear decision, as both companies are committed to circular alternatives, specifically for electric motors," said Patrick Nee, senior vice president of strategic partnerships and co-founder of Cyclic Materials. "This agreement represents a notable step forward in our mission to advance sustainable solutions for rare earth recycling to drive the circular economy forward across the globe. Together, we are committed to accelerating industry-wide change in how electric motors are recycled."Established in 2021, Cyclic Materials is developing technologies that are capable of transforming end-of-life (EOL) products into valuable raw materials. The recycling of rare earths delivers significant environmental benefits in comparison to mining processes, including a reduced carbon footprint and water usage. Cyclic Materials recently opened its Kingston-based "Hub100" commercial demonstration plant, deploying its proprietary hydrometallurgical technology, REEPure and helping fulfill the demand for domestic sources of mixed rare earth oxide (MREO) in North America.Cyclic Materials' proprietary Mag-Cycle and REEPure technologies can separate magnets from end-of-life products, such as electric motors, and then convert this magnet product to mixed rare earth oxides, cobalt-nickel hydroxides, and other raw materials. Feedstock from SYNETIQ will be received by Cyclic Materials's "spoke" facility and processed with Mag-Cycle before being sent to Cyclic Material's "Hub100" plant for processing using REEPure technology.
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