💥We are pleased to announce an investment in Cyclic Materials' Series B raise. We look forward to working with Ahmad Ghahreman, the management team, and our fellow investors in supporting the company's journey towards becoming a one-of-a-kind metal and rare earth recycling infrastructure company 🧲♻️
Cyclic Materials is thrilled to announce the closing of an oversubscribed USD $53 million Series B equity round, led by ArcTern Ventures and supported by new investors BDC Capital (Canada)'s Climate Tech Fund, Hitachi Ventures, Zero Infinity Partners, Climate Investment (CI), and Microsoft’s Climate Innovation Fund. Existing investors Fifth Wall, BMW i Ventures, Energy Impact Partners, and Planetary Technologies also participated in the round. The funding rounds the company’s total equity raised to over USD $83.5M and will enable #CyclicMaterials to fast-track its international growth, building #rareearthrecycling infrastructure in the US and Europe, and growing its team to support its world-class operations. “We're energized to partner with the world’s top sustainability-focused infrastructure and corporate investors to scale our technology’s impact,” said Ahmad Ghahreman, CEO and Co-Founder of Cyclic Materials. “This funding underscores the confidence in our ability to create the circular economy for rare earths needed for the clean energy transition. Not only is our technology essential for supporting sustainable domestic production of rare earths, but it will also play a critical role in re-establishing North American and European leadership in the rare earths industry.” Read the full announcement: https://lnkd.in/e9A9nqhx #RareEarths #REE #CriticalMinerals