Solvay, a leading provider of rare earth materials for catalysis and electronics, and Cyclic Materials, an advanced metals recycling company focused on establishing a circular supply chain for rare earth elements and critical metals, have announced the signing of a supply agreement for recycled mixed rare earth oxide (rMREO). This agreement marks a significant step forward in their partnership, which began with a memorandum of understanding signed in February 2023. Since then, the companies have successfully validated Cyclic Materials’ rMREO product with Solvay’s rare earth separation process, confirming its technical and commercial viability.
Founded in 2021, Cyclic Materials is at the forefront of developing technologies to economically and sustainably convert end-of-life products into valuable raw materials. The company plans to establish facilities across North America, Europe, and Asia to meet the increasing demand for domestic sources of mixed rare earth oxides (MREO) in these regions.
Solvay has been actively advancing its rare earths strategy since late 2022, aiming to establish a rare earths hub for the permanent magnets value chain in La Rochelle, France, to enhance European self-sufficiency. With a longstanding presence in rare earth processing, Solvay is committed to serving customers in the rapidly growing electric vehicles, wind power, and electronics markets starting in 2025.
“This agreement is in line with our sustainable sourcing strategy to supply magnet-grade NdPr and Nd oxides to our customers by early 2025. We fully support Cyclic Materials’ vision of developing a circular supply chain for rare earths. Through this partnership, we are closing the loop by reintegrating recycled MREO back into the magnet supply chain,” said An Nuyttens, President of Solvay Special Chem. “Since the inception of our partnership, Cyclic Materials has made significant strides in scaling their technology to enable a commercial relationship with our company. We commend the Cyclic Materials team for achieving the milestone of launching their Hub100 plant, which plays a crucial role in securing our sustainable rare earth sourcing.”
“The completion of this commercial agreement represents a major milestone for our company. Our team has demonstrated the scalability of our technology, capable of producing high-quality recycled products from a variety of end-of-life magnet sources,” said Ahmad Ghahreman, co-founder and CEO of Cyclic Materials. “We view this partnership with a leader in the rare earth chemicals market as a significant achievement. With this agreement, we are supporting Solvay in their efforts to mitigate the environmental impact of rare earths and address concerns regarding the constrained supply chain for rare earths used in magnet production.
