The tech giant is joining Cyclic Materials’ Series B round. The companies did not disclose the value of the investment, which will help the Canadian critical mineral startup expand into the U.S. and Europe. (The Logic)
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The tech giant is joining Cyclic Materials’ Series B round. The companies did not disclose the value of the investment, which will help the Canadian critical mineral startup expand into the U.S. and Europe. (The Logic)
Talking point: Nick Ellis, principal at the Amazon Climate Pledge Fund, said the investment will help Amazon recover rare earth elements from products like hard drives. Amazon Web Services is spending US$100 billion on new data centres and upgrading existing ones for artificial intelligence. Meanwhile, U.S. President Donald Trump has pledged to prioritize rare earth investments to improve the U.S. critical mineral supply chain. Cyclic Materials, which has operations in Toronto and Kingston, Ont., aims to commercialize its technology that recovers rare earths from motors, MRI machines and wind turbines.
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