All Articles
Mining

The Canadian Rare Earth Elements Recycling Startup Backed By Microsoft

September 9, 2024
x min read
The Canadian Rare Earth Elements Recycling Startup Backed By Microsoft

A Canadian startup has a disruptive vision for securing a reliable supply of domestic rare earth elements: recycling electronic waste.

What’s happening:

  • Cyclic Materials has landed $4.9M CAD in new funding from the government of Canada to accelerate their recycling technology for rare earth elements and critical minerals

The big idea:

  • Cyclic Materials has developed an innovative recycling technology that is capable of recovering rare earth elements and critical metals from electronic waste that would otherwise end up in landfills
  • By recycling and repurposing rare earth elements and critical metals, Cyclic Materials is able to significantly reduce the carbon dioxide emissions and water consumption that is caused by mining projects aiming to discover new deposits of critical minerals

Why it matters:

  • Rare earth elements are essential for everything from wind turbines to MRI machines to the production of electric vehicles, which has led to an uptick in North American publicly traded companies searching for new domestic deposits of rare earth elements
  • China is the largest supplier of rare earth elements globally, which has become a looming problem for North American companies as China continues to limit the exportation of many important metals and minerals such as antimony

Going deeper:

Discover the world's most disruptive early stage companies with 35,000+ investors.

The markets and trends that matter, made simple.

Join top talent at the world's most respected institutions, companies, and venture capital funds.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.