Microsoft’s Bold Move: Investing in Cyclic Materials to Drive Climate Tech Advancements

Cyclic Materials, a company focused on recycling rare earth elements from old hard drives, receives a major investment from Microsoft's Climate Innovation Fund, aligning with their goal of achieving zero waste and promoting circularity and sustainability.

Major boost from Microsoft's Climate Innovation Fund
Aligns with Microsoft's goal of achieving zero waste by 2030
Significant environmental benefits compared to traditional mining processes

Cyclic Materials, a company that’s all about recycling metals, just got a major boost from Microsoft’s Climate Innovation Fund. This fund is all about supporting new climate-friendly technologies, and they see a lot of potential in Cyclic’s work. Specifically, Microsoft is interested in Cyclic’s efforts to recycle rare earth elements found in old hard drives.

You see, when hard drives reach the end of their life, they’re usually sent to an IT asset disposal company. These companies are responsible for destroying any sensitive data on the drives and then shredding them to recover valuable metals like gold and silver. But here’s the thing: the rare earth elements inside the drives are often left behind and not recovered.

That’s where Cyclic comes in. They’ve developed a cool technology called CC360 that can separate out the rare earths from the rest of the hard drive, without disrupting the normal shredding process. This means that ITAD companies can recover those valuable magnets containing rare earth elements, and then Cyclic can process them further to unlock even more value. It’s a win-win situation.

Microsoft is really excited about this investment because it aligns with their goal of achieving zero waste by 2030. They believe in the circular economy, where products are recycled and reused instead of being thrown away. And as the demand for rare earth elements continues to grow, it’s crucial to find sustainable ways of sourcing them. That’s why Microsoft sees so much potential in Cyclic’s work.

Cyclic Materials is a relatively new player in this space, but they’re already making waves. They’re focused on transforming end-of-life products into valuable raw materials using sustainable and domestic methods. Recycling rare earths is a big part of their mission because it has significant environmental benefits compared to traditional mining processes. It reduces carbon emissions and water usage, which is great for the planet.

In fact, Cyclic recently opened a plant called “Hub100” in Kingston, where they’re using their own special technology called REEPure. This technology allows them to extract mixed rare earth oxide (MREO) from old products. And let me tell you, the demand for MREO in North America is skyrocketing, so Cyclic is in a prime position to meet that demand.

They’ve even partnered with Sims Lifecycle Services (SLS) to test out their CC360 technology. And guess what? It’s been a huge success. Sean Magann, the chief commercial officer at SLS, said they’ve seen amazing results, with the ability to process one hard drive per second. Not only does this technology allow them to recover rare earths, but it also helps with data security and prevents their shredders from getting clogged up with magnets. It’s a win-win-win situation.

Ahmad Ghahreman, the CEO of Cyclic Materials, is beyond thrilled about Microsoft’s investment. He sees it as a major vote of confidence in their mission to create a circular supply chain for rare earth elements. And he’s grateful for the input and support they’ve received from SLS along the way.

With Microsoft’s backing, Cyclic can now accelerate the deployment of their commercial facilities. This is a crucial step in growing the domestic supply of rare earths in North America and supporting the transition to clean energy. And let’s not forget about the circularity and sustainability goals that companies like Microsoft are striving for. Cyclic’s technology is a key piece of that puzzle.

So, the future looks bright for Cyclic Materials. With their innovative technology and support from big players like Microsoft, they’re well on their way to revolutionizing the recycling industry and creating a more sustainable world.

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Background Information

About Kingston: Kingston Technology, founded in 1987, is a respected American company specializing in memory and storage solutions. They offer a diverse range of products, including memory modules, solid-state drives, USB drives, and more. Kingston is known for its reliable and high-performance storage solutions.

About Microsoft: Microsoft, founded by Bill Gates and Paul Allen in 1975 in Redmond, Washington, USA, is a technology giant known for its wide range of software products, including the Windows operating system, Office productivity suite, and cloud services like Azure. Microsoft also manufactures hardware, such as the Surface line of laptops and tablets, Xbox gaming consoles, and accessories.