Cyclic Materials, a recycling company backed by BMW and other major partners, has secured a multi-year agreement with raw materials giant Glencore to supply recycled copper recovered from electric motors. This collaboration aims to enhance the sustainability of the supply chain and support the energy transition by utilizing high-quality copper sourced from recycled electronic waste.
Under the terms of the deal, Cyclic Materials will provide an unspecified quantity of copper, which Glencore will use to produce cathodes for new products. This agreement underscores the growing importance of recycling in reducing the environmental impact of resource extraction. Cyclic Materials highlights that reusing valuable materials like copper, rather than discarding them in electronic waste and industrial byproducts, helps to mitigate the carbon footprint associated with traditional mining operations.
Ahmad Ghahreman, co-founder and CEO of Cyclic Materials, expressed excitement about the partnership, noting, “We’re eager to further partner with Glencore and expand our offtake agreements for the primary materials we will recover, prior to ramping up our operations to global commercial scale.” The company plans to open new facilities in the U.S. and Europe to better serve global partners as it scales operations.
Kunal Sinha, global head of recycling at Glencore, echoed this sentiment, emphasizing the importance of a circular supply chain for critical materials. He stated, “Adding Cyclic Materials as a partner broadens the scope of our recycling activities… We see Cyclic Materials filling a critical gap in the market with their focus on rare earth recovery, a much-needed solution to further drive sustainability in critical materials.”
This partnership between Cyclic Materials and Glencore is a significant step forward in the effort to secure more sustainable and resilient supply chains, particularly in the context of the ongoing energy transition and the growing demand for electric vehicles and renewable energy technologies.
