InMotion Ventures Invests $2 Million in Cyclic Materials, Extending Series B to $55 Million
23.1.2025 15:00:00 CET | Business Wire | Press release
The Series B funding will be used to support the opening of Cyclic Materials’ first commercial facilities in the US and Europe
Cyclic Materials, the advanced recycling company building a circular supply chain for Rare Earth Elements and other critical materials, today announced a $2 million investment from InMotion Ventures, the investment arm of Jaguar Land Rover (JLR). This latest backing lifts the company’s Series B round to $55 million, underscoring its critical role in advancing sustainable supply chains for the automotive industry and beyond.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250123234060/en/
Cyclic Materials extracts REEs from various end-of-life products, including EVs, consumer electronics, and medical equipment. Pictured are recycled EV and hybrid vehicle motors. (Photo: Business Wire)
Rare Earth Elements (REEs) are an essential component in permanent magnets, which are found in everything from data centers and wind turbines to cell phones, electric vehicles, and power tools. Despite their significance, less than 1% of REEs are currently recycled, while the global demand already exceeds supply and is projected to grow threefold by 2030. Cyclic Materials’ proprietary MagCycle℠ and REEPure℠ technologies address this demand by recycling REEs from a wide range of end-of-life products, establishing a circular supply chain for recycled Mixed Rare Earth Oxides (rMREOs).
This investment aligns with InMotion Ventures’s commitment to the circular economy. The fund has invested in a range of technologies across the global value chain, including supply chain traceability, battery repair, re-use and recycling and now, rare earth magnets recycling.
“We are thrilled to welcome InMotion Ventures as a key investor, extending our Series B with an additional $2 million,” said Ahmad Ghahreman, CEO of Cyclic Materials. “Their investment highlights the surging importance of sustainable solutions in the automotive industry. We are honored to have one of the UK’s most active corporate funds as partners as we deploy our rare earth recycling infrastructure across North America and Europe.”
"Cyclic Materials is leading the way in creating a sustainable supply chain for rare earth elements and critical materials,” added Mike Smeed, Managing Director at InMotion Ventures. “Their innovative technologies address a vital need for rare earth magnets recycling, supporting the automotive industry's transition toward a cleaner and more resilient future."
With this investment, Cyclic Materials will accelerate the expansion of its operations across North America and Europe, enhance processing capabilities, and refine its cutting-edge recycling technologies.
This Series B extension builds on Cyclic Materials’ earlier $53 million round, backed by global industry leaders like Microsoft, Hitachi, BMWi and specialized funds ArcTern and Fifth Wall. Together, these investments position Cyclic Materials as a key partner for companies seeking sustainable and circular supply chain solutions.
About Cyclic Materials
Established in 2021, Cyclic Materials is a cleantech company creating a circular supply chain for rare earth elements (REEs) and other critical materials for supporting the clean energy transition. Through its innovative technology, the company economically, sustainably, and domestically transforms end-of-life products into valuable raw materials that are essential to the production of electric vehicles, wind turbines, and motors for the electronics we use in our daily lives. In 2023, Cyclic Materials commissioned a commercial demonstration facility of the first stage of its process, to recover rare earth magnets from end-of-life materials using the proprietary process, MagCycle℠. In 2024, Cyclic Materials opened a second commercial demonstration facility, for the second stage of its process, in Kingston, Ontario where Mixed Rare Earth Oxide is produced using its proprietary hydrometallurgical technology, REEPure℠. With the global market for magnets containing REEs forecasted to increase dramatically by 2030, establishing new sources of these critical materials is vital to support the electrification of the global economy. Cyclic Materials is scaling its technology across North America, Europe, and Asia. To learn more, visit cyclicmaterials.earth.
About InMotion Ventures
InMotion Ventures is the investment arm of JLR and a core component of the business’ Open Innovation programme. The fund invests globally across climate, industrial and enterprise technologies at the application, infrastructure and deep tech levels. Notable past investments include Lyft (exited in 2019), Ascend Elements, Circulor, Uncaged Innovations, ChipFlow and EV Energy.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250123234060/en/
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Klarna Card reaches 5 million active customers19.3.2026 15:31:00 CET | Press release
Klarna, the global digital bank and payments provider, today announced that the Klarna Card has reached 5 million active customers globally, underscoring rapid adoption as consumers shift towards new forms of payment which provide more control over day-to-day money management. The card draws from the customer's own funds for everyday spending, with the option to spread the cost of a specific purchase, like a large appliance or a flight, when it makes sense to do so. The result is a card that offers genuine spending control without the long-term debt obligations that come with traditional credit cards. The card’s growth is reinforced by Klarna’s membership program. The program offers premium perks such as airport lounge access, travel insurance, and lifestyle subscriptions — without requiring users to take on debt, meet spending thresholds, or revolve balances. By separating everyday spending from rewards, Klarna is challenging the strings-attached model legacy banks have long relied on
Stonebranch Releases 2026 Global State of IT Automation Report, Revealing Orchestration as the Missing Link for AI Adoption and Trust19.3.2026 14:30:00 CET | Press release
New research shows hybrid IT orchestration, automation-as-a-service, and WLA investments are accelerating as AI workflow deployment scales across the enterprise. Stonebranch, a leading provider of service orchestration and automation solutions, today released its annual 2026 Global State of IT Automation Report, the company’s most comprehensive research study to date. Based on responses from 402 IT automation professionals spanning C-suite executives to individual contributors across North America, EMEA, Latin America, and APAC, the report provides a detailed, data-driven portrait of how enterprises are investing in, deploying, and deriving value from IT automation in 2026. “This year’s findings highlight an important shift in how organizations approach automation,” said Giuseppe Damiani, CEO of Stonebranch. “Organizations are now building automation as strategic infrastructure — a governed, scalable foundation that spans hybrid environments, operationalizes AI, and delivers automation
Perma-Pipe Accelerates Growth with New U.S. Northeast Facility Investment to serve Artificial Intelligence Data Center customers, Provides Middle East Operations’ Update and Concludes the Board’s Review of Strategic Alternatives19.3.2026 14:00:00 CET | Press release
Perma-Pipe International Holdings, Inc. (the “Company”) today announced a strategic expansion initiative focused on accelerating growth through entry into the high-demand U.S. Northeast region. The Company is positioning itself to capitalize on the rapidly expanding Artificial Intelligence (“AI”)-driven data center market in both the United States and international markets while continuing to reinforce its leadership in critical infrastructure solutions. As part of this growth strategy, Perma-Pipe will prioritize investments aimed at expanding its presence in the rapidly evolving AI data center sector. The initiative reflects the Company’s long-term commitment to supporting next-generation technology infrastructure and strengthening its position in the global energy, industrial, and infrastructure markets. Expansion in the U.S. Northeast President & Chief Executive Officer, Saleh Sagr said, “We are excited to announce the expansion of our operations with a new facility in the Northeast
Armis Launches First-of-Its-Kind Benchmark Report Warning of Critical Security Gaps in AI-Native Development19.3.2026 13:00:00 CET | Press release
Research reveals 100% of leading generative AI models fail to generate secure code for critical development scenarios Armis, the cyber exposure management & security company, is warning that the rapid enterprise adoption of AI-native development is outpacing critical security safeguards, leaving organizations exposed to systemic vulnerabilities. New research from Armis Labs’ Trusted Vibing Benchmark Report, which evaluates 18 leading generative AI models across 31 test scenarios, reveals a 100% failure rate in generating secure code. These vulnerabilities are most prevalent in high-risk areas like memory buffer overflows, design file uploads and authentication systems. Therefore, organizations should immediately implement AI-native application security controls to reduce risk. “The era of vibe coding is here, but speed should not come at the cost of security,” said Nadir Izrael, CTO and Co-Founder of Armis. “Our research finds that the worst offenders are the same ones selling security
Morocco’s FRMF Welcomes CAF Appeal Board as Upholding Rules, Stability of International Competitions19.3.2026 12:53:00 CET | Press release
Following the announcement by the CAF Appeal Board, the Royal Moroccan Football Federation (FRMF) welcomes the decision, which reaffirms the primacy of competition regulations and reinforces the conditions necessary for the proper conduct of international tournaments. From the outset, following the incidents that led to the interruption of the match, the FRMF maintained a clear and consistent position: the strict application of the governing regulations. The Federation’s approach was solely guided by this principle. Following its appeal, CAF has now confirmed that the applicable regulations were not properly enforced. Throughout the process, the FRMF acted in full compliance with all relevant legal and procedural frameworks, with a constant focus on upholding its rights and preserving the integrity of the competition. This decision provides clarity on the applicable framework and strengthens the consistency and credibility of international competitions, particularly within African foot
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom