Solvay, a leading provider of rare earth materials for catalysis and electronics, and Cyclic Materials, a company specializing in advanced metals recycling, have entered into an agreement for the supply of recycled mixed rare earth oxide (rMREO) from Cyclic Materials to Solvay. The first shipments are expected to begin in late 2024.
This agreement builds on the partnership established through a memorandum of understanding signed earlier in 2023. Since then, the companies have worked together to validate Cyclic Materials’ rMREO product with Solvay’s rare earth separation process. The supply agreement marks the culmination of their joint efforts to confirm the technical and commercial viability of Cyclic Materials’ product with an established rare earth chemicals producer.
Cyclic Materials is a pioneer in developing technologies that economically, sustainably, and domestically convert end-of-life products into valuable raw materials. The company plans to establish facilities in North America, Europe, and Asia to meet growing demand for domestic sources of MREO in these regions.
The development aligns with Solvay’s efforts to establish a rare earth hub for the permanent magnets value chain in La Rochelle, France, aimed at enhancing European self-sufficiency. As a historical and active player in rare earth processing, Solvay is committed to serving customers in the electric vehicles, wind power, and electronics markets as of 2025.
“The completion of this commercial agreement is a significant milestone in our company’s journey. The team has demonstrated our ability to scale technology capable of producing a high-quality recycled product from a diverse set of end-of-life magnet products,” said Ahmad Ghahreman, co-founder and CEO of Cyclic Materials. “We see this as a tremendous achievement to be partnered with a leader in the rare earth chemicals market. With this agreement we can support Solvay’s efforts in helping to reduce the environmental impact of rare earths and address the concerns about the constrained supply chain for rare earths used in magnet production.”
