Microsoft Makes Strategic Investment in Cyclic Materials to Accelerate Climate Tech Innovation
Cyclic Materials, an advanced metals recycling company building a circular supply chain for rare earth elements and other critical metals, today announced it has received an equity investment from Microsoft's Climate Innovation Fund, an initiative dedicated to accelerating technology development and deployment of new climate innovations. This investment is representative of Microsoft's commitment to a circular economy and interest in hard drive rare earth element recycling.
Over the past two years, Cyclic has developed a patent-pending technology, CC360, to specifically address the challenge of recovering rare earths contained in end-of-life hard drives. While hard drives are typically sent to an IT asset disposal (ITAD) company at the end of life, this disposal process is designed for data destruction, followed by shredding of drives for the recovery of other metals such as gold and silver. The rare earths contained are currently not recovered. With the CC360, ITAD companies can separate a portion of hard drives for rare earth recovery, while retaining the rest of the hard drives for their traditional process. These separated magnets can then be processed by Cyclic Materials' processing technologies, unlocking an additional value stream from hard drive disposal.
Over the past two years, Cyclic has developed a patent-pending technology, CC360, to specifically address the challenge of recovering rare earths contained in end-of-life hard drives. While hard drives are typically sent to an IT asset disposal (ITAD) company at the end of life, this disposal process is designed for data destruction, followed by shredding of drives for the recovery of other metals such as gold and silver. The rare earths contained are currently not recovered. With the CC360, ITAD companies can separate a portion of hard drives for rare earth recovery, while retaining the rest of the hard drives for their traditional process. These separated magnets can then be processed by Cyclic Materials' processing technologies, unlocking an additional value stream from hard drive disposal.