Page 147 - CW E-Magazine (24-6-2025)

News from Abroad

and electrification – is the main driver, for clean hydrogen. In 2024, early-stage gas and coal is set to reach $1.1-bn,
and will account for $2.2 trillion. Solar fundraising dropped mostly in areas underlining the gradual pace of the
PV continues to attract more capital than where the market is still uncertain or energy transition, with global spending on
any other technology. Low-emissions risky, such as hydrogen technologies, upstream oil and gas gravitating towards
fuels are set to reach a new high, surpassing and in capital-heavy sectors such as the Middle East. Dr. Fatih Birol, IEA
$30-bn, but the sector still represents a electric vehicle manufacturing, where Executive Director, said energy security
small share of total energy funding and established companies already dominate is a key growth driver as countries and
remains highly dependent on supportive and it’s hard for newcomers to compete. companies seek to insulate themselves
policies and regulation. In contrast, early-stage investment from a wide range of risks.
increased in energy storage and batteries,
The IEA report highlighted that especially for companies working on “The fast-evolving economic and
policy uncertainty continues to weigh new, advanced battery technologies, trade picture means some investors are
on final investment decisions (FID) for because these areas are seen as more adopting a wait-and-see approach to new
many hydrogen and carbon capture pro- promising or urgent by investors. energy project approvals, but in most
jects. Nevertheless, the approved project areas, we have yet to see significant
pipeline signals growing momentum Meanwhile, investment in oil, natural implications for existing projects,” he said.
INDUSTRIAL & INNOVATION BACKBONE

Cyclic Materials plans Centre of Excellence for rare

earth recycling in Canada

Cyclic Materials, the Canadian rare growing geopolitical
earth elements (REEs) recycling firm, tensions and sup-
has announced a $25-mn investment ply concentration.
to set up a ‘Centre of Excellence’ for Cyclic Materials’
rare earth recycling in Kingston, Ontario. proprietary MagCycle
Spanning 140,000-sq.ft., the facility and REEPure tech-
will combine commercial processing nologies recover
and R&D to advance resilient sourcing REEs from end-of-
of rare earth elements for use in perma- life products such as
nent magnets. EVs, wind turbines,
and data centre hard
The Centre of Excellence (CoE) will drives – delivering
house Cyclic Materials’ first commercial 2026, rMREO from this facility will a low-footprint, circular alternative
“Hub” processing unit, leveraging its supply key partners within the magnet to mining and a fast track to domestic
proprietary REEPure technology. The value chain, like Solvay, with whom supply security.
facility is designed to convert 500-tpa Cyclic Materials signed an offtake agree-
of magnet-rich feedstock into recycled ment in 2024, providing a secondary With strategic alliances including
Mixed Rare Earth Oxide (rMREO) – con- resource of critical rare earth elements. Solvay, Glencore, Lime, and Sims Life-
taining crucial components such as cycle Solutions, the company is build-
neodymium, praseodymium, terbium, and The site will also house a R&D centre, ing a resilient, sustainable, and circular
dysprosium. Feedstock for this facility including advanced labs and a mini-Spoke ecosystem for rare earth magnets.
will be sourced from both Cyclic’s line, to accelerate process optimisation and
Arizona-based “Spoke”, where end-of-life scale next-generation technologies across “With this CoE, we are advancing
products will be processed, as well as the rare earth value chain. our core mission: to secure the most
partners supplying magnet scrap from critical elements of the energy transi-
production. Today, less than 1% of rare earth tion through circular innovation,” said
elements are recycled, and global sup- Ahmad Ghahreman, CEO of Cyclic
With operations set to begin in Q1 ply chains remain highly sensitive to Materials.

Chemical Weekly June 24, 2025 147

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