Huge news for the likes OK MKA12 May 2023 15:33
The Kingston Ont.-based rare earth elements recycler will use the funding to scale up its capacity, creating a hub-and-spoke network for commercial operations
Cyclic Materials, a Kingston, Ont.-based advanced metals recycling startup, has raised $27 million in series A funding to begin commercialization of its plans to create a circular supply chain for rare earth elements (REE) and critical materials in Canada.
BMW Group’s venture capital arm, BMW i Ventures (BiV), along with Energy Impact Partners led the funding round last month. Other participants include Fifth Wall, Bioindustrial Innovation Canada and previous investor Planetary Technologies.
“We are an early-stage company. We