Canadian rare earth recycling company Cyclic Materials will invest more than $20 million in its first commercial plant in the United States, aimed at processing used components containing rare earth permanent magnets. The facility, to be located in Mesa, Arizona, is scheduled to open in early 2026 and is expected to handle 25,000 tonnes of end-of-life material annually.
This marks the company’s first U.S.-based operation and its first site dedicated to recovering permanent magnets from products at the end of their life cycle. Until now, these components were not typically recycled. The Mesa facility will create approximately 30 jobs, with recruitment expected to begin before the end of June.
“We are proud Cyclic Materials will establish its first U.S. facility right here in Arizona,” said Governor Katie Hobbs. “This facility will create family-sustaining jobs and support thriving industries, all while advancing Arizona’s clean energy economy.”
Cyclic Materials’ proprietary recycling technology, known as MagCycle, was initially deployed at a commercial demonstration facility in 2023. The company later launched a second demonstration plant—called Hub100—in Kingston, Canada, to produce mixed rare earth oxides from recovered materials.
The materials targeted for recovery include rare earth magnets found in electric vehicle motors, wind turbines, MRI machines, and various types of electronic waste such as servers from data centers. Rare earth elements (REEs), essential for technologies like EVs and wind energy, are among the least recycled due to the complexity of separating them from other magnetic materials.
“We have chosen the vibrant Southwest for our first U.S. and global site to be close to feedstock that will support our mission to address the global supply-demand imbalance for rare earth materials,” said Ahmad Ghahreman, CEO and co-founder of Cyclic Materials. “By developing circular supply chains, we can reduce dependence on overseas sources and secure a more stable REE supply for the future.”
Founded in 2021, Cyclic Materials has developed technologies to recover not only REEs but also metals such as copper, aluminium, steel, cobalt, and nickel from a range of waste streams. The company is supported by strategic investors including BMW i Ventures, which joined in 2023, and JLR’s InMotion Ventures, which contributed $2 million during the company’s Series B funding round earlier this year.
