August 2, 2024 — In a recent InvestorNews interview with host Tracy Hughes, Ahmad Ghahreman, President, CEO, and Co-Founder of Cyclic Materials Inc., discussed the company’s strategic partnership with Microsoft and the significance of their investment through Microsoft’s Climate Innovation Fund. Ghahreman highlighted the necessity for tech companies to meet increasing data demands and how Cyclic Materials contributes by recovering rare earth magnets from hard disk drives, thus aiding Microsoft’s goal to become zero waste by 2030. He stated, “Our technology basically recovers magnets from those hard disk drives, which is for the very first time ever being done in larger scale.” This partnership marks a pivotal step in the circular economy approach, supporting sustainable technology advancements.
Ghahreman also provided insights into Cyclic Materials’ innovative technologies and their Kingston-based Hub100 plant. The Hub100 plant utilizes Cyclic’s proprietary REEPure™ technology to transform end-of-life products into high-quality mixed rare earth oxide (rMREO), essential for manufacturing new magnets. Additionally, Ghahreman emphasized the importance of partnerships with companies like Solvay and Ucore Rare Metals Inc. (TSXV: UCU | OTCQX: UURAF) to expand their footprint and capabilities. “We are excited to partner with [Solvay] for our future plans in Europe… [and] Ucore has plans to build further footprint in North America,” he explained. These collaborations, along with the Microsoft deal, underscore Cyclic Materials’ role in developing a sustainable supply chain for critical materials, pivotal for the energy transition. Ghahreman will be the keynote speaker on Thursday, August 22, 2024, at 9:10 AM, at the Critical Minerals Institute (CMI) Summit III, addressing the politics of the critical minerals market.
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About Cyclic Materials Inc.Established in 2021, Cyclic Materials is a cleantech company creating a circular supply chain for rare earth elements and other materials critical to supporting the energy transition. Through its innovative technology, the company economically, sustainably and domestically transforms end-of-life products into valuable raw materials that are essential to the production of electric vehicles, wind turbines and motors for the electronics we use in our daily lives. In 2024, Cyclic opened its Hub100 plant in Kingston, Ontario – the first facility to produce recycled Mixed Rare Earth Oxide (rMREO) in North America using its proprietary hydrometallurgical technology, REEPure™. With the global market for magnet rare earth elements forecasted to increase dramatically by 2030, establishing new sources of these critical elements is vital to support the electrification of the economy across the globe. Cyclic plans to scale its technology in North America, Europe and Asia.
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