A US$53-million Series B fundraise (approximately C$71.8 million) will set the stage for the expansion of Toronto-based Cyclic Materials’ rare earth metals recycling infrastructure into the U.S. and Europe.
Toronto-based metals recycler Cyclic Materials has secured U.K. vehicle salvaging company Synetiq as its first supplier outside North America, receiving motors from hybrid and electric vehicles to extract the rare earth metals within the parts.
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