T. Rowe Price led a $75m Series C round in Cyclic Materials.

T. Rowe Price, an American publicly owned global investment management firm, led a $75m Series C round in Cyclic Materials, a cleantech company focused on recycling rare earth elements (REEs) and other critical materials, with participation from Canada Growth Fund. “This transaction positions Cyclic Materials to accelerate its research and development and fast-track the commercialization of its breakthrough technology here in Canada. By funding Cyclic Materials at this pivotal stage of growth, CGF is pleased to support Canada as it works to boost strategically important critical minerals processing capabilities in a key sector for the country’s economic future," Yannick Beaudoin, Canada Growth Fund Investment Management (CGFIM) CEO.