Cyclic Materials adds US$75M strategic round to speed its South Carolina buildout

Cyclic Materials/Hub-and-spoke magnet recycling

A second US$75 million round, again led by T. Rowe Price-advised accounts, brought Cyclic's total equity to US$237 million. E-waste recycler ERI joined as a strategic investor. The money is aimed at the South Carolina campus, where groundbreaking is planned for Q4 2026, and more US sites.

• Total equity funding: US$237 million.
• Backers include Energy Impact Partners, Microsoft, Amazon, BMW i Ventures, JLR and Hitachi Ventures.
• South Carolina groundbreaking planned for Q4 2026.