2025-06-12
Cycic Materials, a startup backed by Amazon and Microsoft, is investing $25 million to build a rare earth recycling plant and research center in Kingston, Ontario. The company has developed proprietary technology to recover rare earths from waste products such as wind turbines and data center hard drives.
In 2023, the company launched a commercial demonstration plant that uses the process to extract rare earth magnets. By 2024, the company had built a second plant in Kingston to produce mixed rare earth oxides, which has now been completed. The plant will be operational in the first quarter of 2026 and is designed to process 500 tons of magnet-rich feedstock per year and convert it into rare earth oxides. The recycled product contains key components such as neodymium, praseodymium, terbium and dysprosium.
