Arnold Magnetic Technologies and Cyclic Materials Announce New Partnership
Together they will develop a Rare Earth circular supply chain, ensuring the sustainability of a quickly growing industry reliant on these materials
Rochester, NY | Kingston, Ontario: Arnold Magnetic Technologies Corporation (“Arnold”), a subsidiary of Compass Diversified (NYSE: CODI) and leading global manufacturer of high-performance magnets and more for mission critical applications, announces its partnership with Cyclic Materials, a pioneer in developing more sustainable domestic supply chains for rare earth elements. Arnold and Cyclic will work together to develop a rare earth recycling program, creating an unprecedented circular supply chain for rare earth materials.
Arnold produces permanent magnets made from rare earth materials. Cyclic Materials’ recycling capabilities allow for the reuse of rare earth materials reclaimed from magnets. While previous recycling measures only reclaim select elements, Cyclic Materials plans to recycle all elements from Arnold’s supply feed to offer a broader range of recycled materials at a much higher yield. This will allow Arnold to source recycled, rare earth Samarium, Neodymium, and Dysprosium, along with non-rare earth cobalt from Cyclic Materials moving forward, creating a North American supply source. Arnold is exploring options for expanding this partnership to the rest of their North American locations.
Rare earth magnets are used in a myriad of applications across all markets, including electric motor applications. For this application, rare earth magnets are especially sought after due to their power-dense material characteristics and relatively lightweight composition. These unique characteristics can be utilized to greatly increase the power density of electric motors. By utilizing recycled rare earth materials in its future magnets, Arnold will be able to increase the sustainable impact of electric motors and other products.
Currently, rare earth supply chains are extremely dependent upon China. Arnold and Cyclic Materials will be able to reduce dependence upon foreign nations for these materials by increasing supply chain efficiency with value-added recycling. This reduces waste both up and downstream and greatly reduces environmental impact as a result. With this partnership, Arnold will need fewer virgin materials and will increase the resiliency of their supply chain—offering more capacity and more flexibility for production.
“We’re thrilled to sign this agreement with Arnold Magnetic Technologies to enhance the sustainability and flexibility of their supply chain while continuing to demonstrate the advantages of a circular supply chain for rare earth elements in North America. We look forward to the future of this partnership as we continue in our work to help the world transition to an environmentally responsible future,” said Patrick Nee, Co-founder and VP of Strategic Partnerships at Cyclic Materials.
Partnerships like this create a more sustainable future for the industry. Arnold sees its material ESG factors as critical to driving long-term value and increased commitment to core values, and is excited to be able to partner with a company that aligns with its vision for the future.
About Arnold Magnetic Technologies
Headquartered in Rochester, NY with an operating history of more than 125 years, Arnold is a leading global manufacturer of engineered solutions for a wide range of specialty applications and end-markets, including aerospace and defense, general industrial, motorsport, oil and gas, medical, and energy. From its Technology Center and manufacturing facilities located in the United States, the United Kingdom, Switzerland, and China, the company produces engineered magnetic assemblies in addition to high-performance permanent magnets, precision foil products, and highly loaded composites that are mission critical in motors, generators, sensors, and other systems and components. Based on its long-term relationships, the company has built a diverse and blue-chip customer base totaling more than 2,000 clients worldwide. For more information on Arnold, visit https://www.arnoldmagnetics.com.
About Cyclic Materials
Cyclic Materials is creating a circular supply chain for Rare Earth Elements. The company helps businesses recycle, provides the market with a secure and local supply of critical metals, and does so in an ethical, economic, and sustainable way. Based in Kingston, Ontario, Cyclic Materials recognizes how rare earth elements impact all lives. From smartphones to electric vehicles to green energy, these critical metals play a key role in the modernization and sustainability of the global economy. With the global market for magnet rare earth oxides forecast to increase threefold by 2030, establishing new sources of rare earth elements will be critical to support the electrification of the economy across Canada, North America, and the world. To learn more, visit https://www.cyclicmaterials.earth/.