Magnetics Business & Technology - November/December 2024 - 27

INDUSTRY NEWS
electronics recycler Sims Ltd of Australia. Another subsidiary,
Sims Metal, buys and processes scrap metal from businesses,
other recyclers and the general public, and conducts recycling
of ferrous and non-ferrous metals at more than 200 processing
facilities in the USA, UK and Australasia.
" We're thrilled by this endorsement from Microsoft's Climate
Innovation Fund as a key strategic investor who is like minded
in creating a circular supply chain for rare earth elements contained
in hard drives used in their data center operations, " said
Ahmad Ghahreman, co-founder and CEO of Cyclic Materials.
Synetiq combines careful dismantling and
salvaging with a powerful distribution network
for recycling auto parts.
" This support
enables us to
accelerate the
deployment of
our commercial
facilities, which
is a critical step
in growing the
domestic supply
of rare earths in
North America
that support the
energy transition.
Additionally, we
value the input
that SLS has provided,
helping us to validate our new CC360 technology that we
believe will prove invaluable to large data center operators such
as Microsoft as they work towards their circularity and sustainability
goals. "
In August, Cyclic began a collaboration for the recycling of
electric motors containing rare earths with Synetiq, a high-tech
leaning vehicle salvage and recycling company in the UK. The
motors to be supplied include drive motors in hybrid and electric
vehicles, as well as auxiliary motors present in all vehicles.
Patrick Nee, SVP
Strategic Partnerships
and co-founder
of Cyclic Materials,
is eyeing global
expansion.
" This relationship marks Cyclic Materials'
first overseas feedstock contract, a significant
milestone as we continue to expand
our business from North America across
Europe in the months ahead. Partnering
with Synetiq was a clear decision, as both
companies are committed to circular alternatives,
specifically for electric motors, "
said Patrick Nee, senior vice president
of strategic partnerships and co-founder
of Cyclic Materials. " This agreement
represents a notable step forward in our
mission to advance sustainable solutions
for rare earth recycling to drive the circular
economy forward across the globe.
Together, we are committed to accelerating
industry-wide change in how electric motors are recycled. "
An experienced tech entrepreneur with extensive global experience,
Nee has a bachelor's degree in mechanical engineering
from the Massachusetts Institute of Technology, a master's
degree in mechanical engineering from the Tokyo Institute of
Technology, and an MBA from Columbia University. He is a
World Economic Forum Technology Pioneer, and has lived
in New York, San Francisco, Boston, Tucson, Tokyo, Osaka,
Milan and Panama.
www.MagneticsMag.com
An integrated vehicle salvage, dismantling and recycling operation,
Synetiq is part of IAA (formerly Impact Auto Auctions)
which is a Ritchie Bros. Auctioneers company. IAA serves a
global buyer base located in over 170 countries along with a full
spectrum of sellers including insurers, dealerships, fleet lease,
rental car companies and charitable organizations. Ritchie
Bros. has over 7,000 employees worldwide and is headquartered
near Chicago in Westchester, Illinois. A proactive handler
of electric and hybrid vehicles, Synetiq enrolls its technicians in
specialized training for the purpose.
According to Cyclic, its proprietary Mag-Cycle and REEPure
technologies are the first in the world with the capacity to
separate magnets from end-of-life products such as electric
motors and then convert this magnet product to mixed rare
earth oxides, cobalt-nickel hydroxides and other raw materials.
Feedstock from Synetiq will be received by Cyclic's " spoke "
facility and processed with Mag-Cycle before ultimately sent to
the Hub100 plant for processing using REEPure technology.
Salvage and dismantling yards, like those operated by SYNETIQ,
can maximize the materials and value recovered from hybrid
and electric vehicles, as well as smaller motors in internal
combustion engine vehicles, through partnerships such as this
one, says Cyclic.
For more info, see previous reports in Magnetics Magazine on
Cyclic Materials, www.cyclicmaterials.earth, www.synetiq.co.uk,
www.simslifecycle.com, www.microsoft.com.
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November/December 2024 * Magnetics Business & Technology 27
http://www.simslifecycle.com http://www.microsoft.com http://www.ITG-Electronics.com http://www.MagneticsMag.com
Magnetics Business & Technology - November/December 2024

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