Cyclic Materials and VACUUMSCHMELZE Partner to Recycle Critical Magnet Manufacturing By-products

Agreement Advances Sustainable Supply Chain for Materials Crucial to the Global Energy Transition

March 18, 2024 09:00 AM Eastern Daylight Time

TORONTO--(BUSINESS WIRE)--Cyclic Materials, an advanced metals recycling company building a circular supply chain for rare earth elements and other critical metals, today announced a partnership with VACUUMSCHMELZE (VAC), a leading developer of magnetic materials and solutions. The companies have signed an agreement ensuring that by-products containing critical materials used in high-performance permanent magnets will be recycled. This partnership advances efforts to create a local and sustainable supply chain for these magnets, which are critical components for electric vehicles (EVs), hybrid vehicles, wind turbines and modern electronics.

VAC produces rare earth neodymium-iron-boron (NdFeB) magnets, which are essential to automotive, defense, industrial and renewable energy applications. Recently, the company unveiled plans to build a magnet manufacturing plant for its e-VAC Magnetics subsidiary in the U.S. with Department of Defense support.

“Cyclic Materials’ mission is to ensure all permanent magnets are recycled back into the supply chain, reducing the pressure to open new mines,” says Ahmad Ghahreman, co-founder and CEO of Cyclic Materials. “Our partnership with VAC will bring us closer to achieving our goal. VAC will provide local sources of raw materials and decades of experience in rare earth magnet technology, making a western supply chain for rare earth elements possible.”

The companies have agreed to recycle by-products through Cyclic Materials proprietary magnet recycling processes in North America. This joint effort will produce recycled raw materials that have as much as 75% lower carbon footprint compared to mined raw materials, thereby allowing VAC’s customers to source environmentally friendly rare earth magnets with lower Scope 3 emissions. Industries from wind energy to automobile manufacturers can then use these magnetic components to meet their net-zero production goals.

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