Cyclic Materials Raises $75M to Scale U.S. Rare Earth Production, Building From Mesa

By Kyle Macdonald, COO, Silicon Oasis

Cyclic Materials has raised $75 million in strategic growth financing to accelerate its U.S. rare earth recycling and production infrastructure, with Arizona playing an important role in that expansion.

The new financing brings the company's total equity funding to $237 million and was led by accounts advised by T. Rowe Price Associates, with electronics recycler ERI joining as a new strategic investor.

Cyclic Materials is building infrastructure to recover rare earth elements and critical minerals from products and manufacturing waste already in circulation. Those materials are increasingly important inputs across AI, semiconductors, robotics, defense, automotive, medical technology and advanced manufacturing.

And part of that infrastructure is being built in Mesa.

The company is commissioning an Arizona facility focused on magnet separation and critical mineral recycling. That operation will become part of a broader Hub-and-Spoke network feeding material into larger rare earth recovery and refining facilities across the country.

The $75 million round will help Cyclic Materials expand that network and advance an integrated rare earth recycling campus in South Carolina, where the company plans to break ground in the fourth quarter of 2026.

There's a larger story here for Arizona.

As the state builds out major semiconductor, defense, AI and advanced manufacturing industries, the supply chains supporting those industries become increasingly important. Rare earths are a particularly strategic piece of that equation because they're essential to technologies ranging from permanent magnets and robotics to defense systems.

Cyclic Materials is approaching that challenge through recycling: recovering valuable materials already sitting inside electronics, industrial equipment and manufacturing waste and putting them back into domestic production.

The timing is significant as the federal government places greater emphasis on securing domestic supplies of critical minerals and reducing reliance on foreign supply chains.

Cyclic Materials is backed by a notable group of institutional and strategic investors, including T. Rowe Price, Microsoft, Amazon, BMW i Ventures, Jaguar Land Rover, Hitachi Ventures and Energy Impact Partners.

For Arizona, the company's Mesa operation represents another piece of the advanced manufacturing ecosystem taking shape here.

We're building fabs. We're building defense technology. We're building AI infrastructure.

Increasingly, we're also seeing investment in the materials and supply chains those industries depend on.

Source: Cyclic Materials, August 27, 2026. Read the original announcement from Cyclic Materials