Solvay and Cyclic Materials have signed an agreement for the supply of recycled mixed rare earth oxide (rMREO) from Cyclic Materials to Solvay's plant in La Rochelle, France, with shipments to begin in late 2024. This agreement extends the partnership formed by the memorandum of understanding signed in February 2023.
This move aligns with Solvay’s proactive measures since the end of 2022 to establish a rare earths hub for the permanent magnets value chain in La Rochelle, France, aiming to enhance European self-sufficiency.
An Nuyttens, president of Solvay Special Chem, said, "This agreement aligns with our sustainable sourcing strategy to provide magnet grades of NdPr and Nd oxides to our customers by early 2025. We support Cyclic Materials’ vision of developing a circular supply chain for rare earths. Through this partnership we are creating a circular loop to reintegrate recycled MREO back into the magnet supply chain. Since the start of our partnership, Cyclic Materials has rapidly advanced their technology to enable a commercial relationship between our two companies. We commend the Cyclic Materials team for reaching the milestone of opening their Hub100 plant, which contributes to securing our sustainable sourcing of rare earths.”
Ahmad Ghahreman, co-founder and CEO of Cyclic Materials, said, "The completion of this commercial agreement is a significant milestone in our company's journey. The team has demonstrated our ability to scale technology capable of producing a high-quality recycled product from a diverse set of end-of-life magnet products. We see this as a tremendous achievement to be partnered with a leader in the rare earth chemicals market. With this agreement we can support Solvay’s efforts in helping to reduce the environmental impact of rare earths and address the concerns about the constrained supply chain for rare earths used in magnet production.”
