Canadian cleantech recycler Cyclic Materials has signed a collaboration agreement with UK vehicle salvage outfit Synetiq, its first international feedstock contract.
August 15, 2024Cyclic will recover rare earth metals from motors supplied by Yorkshire-based Synetiq, including 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,’ says Patrick Nee, senior vice president of strategic partnerships and co-founder of the company.
‘Step forward‘
‘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.’
According to Michael Hill, commercial director of Synetiq, ‘We are excited to announce Synetiq’s new collaboration with Cyclic Materials. At the core of our circular model, this agreement exemplifies our commitment to sustainability, innovation, and responsible practices.’
Spoke and hub
Established in 2021, Cyclic Materials has opened its Hub100 commercial demonstration plant in Kingston, Ontario. Its proprietary Mag-Cycle and REEPure technologies are said to be the first in the world with the capacity to 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 a ‘spoke’ facility for initial processing being sent to Hub 100 for final treatment.
https://recyclinginternational.com/business/innovation/canada-uk-pairing-to-recycle-rare-earths/58185/Cyclic Materials receives funding from Microsoft for rare earth minerals recycling
https://www.wastedive.com/news/cyclic-microsoft-climate-fund-rare-earth-itad-recycling/721863/
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
1.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $52.67M | |||
| Open | High | Low | Value | Volume |
| 1.0¢ | 1.1¢ | 1.0¢ | $83.66K | 7.681M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 49 | 29508652 | 1.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 1172727 | 2 |
View Market Depth
| Last trade - 16.10pm 26/06/2025 (20 minute delay) ? |
| IXR (ASX) Chart |