Cyclic Materials, a Canadian cleantech startup producing sustainable rare earth elements for downstream processing, has signed a deal with Solvay to send recycled rare earths to the French company’s plant in La Rochelle, France.
Cyclic Materials recycles rare earth permanent magnets in Kingston, Ontario, producing recycled mixed rare earth oxides (rMREO), which are used as raw materials to be fed into the supply chains of automobiles, renewable wind energy, electronics, and more.
Solvay has been working with Cyclic Materials to validate its products’ compatibility with its rare earth separation process.
“Cyclic Materials will provide us key raw materials for our plant to successfully produce rare earths for magnet manufacture, electronics, and catalysts,” said Ilham Kadri, Solvay CEO.
“As the European Commission finalizes the European Critical Raw Materials Act, supplies of recycled materials are becoming critical to European manufacturers. This MOU prepares us for a future offtake agreement which will further our efforts to provide certifiably recycled materials to these markets.”
The move comes as Solvay is implementing its plans to develop a major hub for rare earth magnets in Europe. In September of 2022, Solvay announced plans to expand its rare earths operations in La Rochelle, France to produce rare earth permanent magnets in Europe and serve customers in the fast-growing electric vehicles, wind power, and electronics markets. The Group plans to create a powerful rare earths hub in Europe in the coming years.
“Solvay is the best-known player in the rare earth separation and rare earth chemicals market, and we are proud to collaborate with them to support a European rare earth industry,” said Ahmad Ghahreman, CEO of Cyclic Materials.
“Solvay has been in a leadership role in European rare earths for decades, and we can now be confident that the Cyclic Materials products will be processed into the highest quality rare earths on the market, compatible with all downstream applications.”