Cyclic Materials, a recycler of critical metals such as the rare earths used to manufacture magnets for electric vehicles and wind turbines, has raised 53...
TORONTO - Cyclic Materials , a recycler of critical metals such as the rare earths used to manufacture magnets for electric vehicles and wind turbines , has raised 53 million U.S. dollars from investors including BMWi and Hitachi Ventures .
Previous investors which participated in the Series B fund included Fifth Wall, BMWi Ventures, Energy Impact Partners, and Planetary Technologies. In the last 12 months the company has raised total equity of more than $83 million. "When it comes to critical metals and specifically rare earth metals, we desperately need them outside of China...the story of electrification is so strong we need those metals," Ghahreman said, adding that fundraising had been tough nonetheless.
Cyclic Materials Hitachi Ventures Wind Turbines Electric Vehicles Critical Metals Arctern Ventures Microsoft’S Climate Innovation Fund Bmwi Planetary Technologies
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