Entrepreneurs for Impact #227: Ahmad Ghahreman, CEO of Cyclic Material – $53M Series B for Rare Earth Metals. Top Global Hydrometallurgist PhD. 20 Patents. $3.5B Value of Company Value. 3,000 Citations. 95% Less Water.
Cyclic Materials is a Canadian cleantech company, founded in 2021, specializing in the recycling of rare earth elements (REEs) from end-of-life products such as electric vehicle motors, wind turbines, and electronic waste.
Their proprietary technologies, MagCycle℠ and REEPure℠, enable the efficient recovery and purification of critical materials, contributing to a circular economy and reducing reliance on traditional mining.
In 2024, the company launched its first commercial demonstration facility in Kingston, Ontario, and announced plans to invest over $20 million in a U.S. facility in Mesa, Arizona.
Cyclic Materials has secured significant funding, including a $53 million Series B round with investors like BMW i Ventures and Microsoft's Climate Innovation Fund, to support its global expansion and the development of sustainable supply chains for critical materials.
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Ahmad Ghahreman is a serial entrepreneur with over 15 years of experience in cleantech, and one of the top hydrometallurgists in the world.
He has co-invented more than 20 patents and commercialized over five technologies, focusing on transforming the rare earth elements market with sustainable, ethical solutions.
In addition to his work at Cyclic, Ahmad is an early co-inventor of Jetti Resources’ copper extraction technology (valued at $2.5B), and the co-designer of Li-Cycle’s lithium-ion battery recycling technology (NYSE: LICY valued at over $1B).
Formerly a professor at Queen’s University, Ontario, Canada, he built the largest and most-funded metals extraction team in North America with over 20 graduate students.
With a Ph.D. in Materials Engineering, he is a leading hydrometallurgist researcher with over 3,000 citations.
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🔗 PODCAST SHOW LINKS
Ahmad Ghahreman - https://www.linkedin.com/in/ahmad-ghahreman-41506b10/?originalSubdomain=ca
Cyclic Materials - https://www.cyclicmaterials.earth/
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🤔 PODCAST HOST:
Dr. Chris Wedding is a CEO coach, investor, serial founder, board member, professor, and occasional monk. Daily LinkedIn posts on climate tech startups, CEOs, and finance here: https://www.linkedin.com/in/christopherwedding