Canada is backing the development of critical minerals recycling technologies, providing $8.4 million to two companies in Kingston to support the electric vehicle supply chain. Under the critical minerals research, development and demonstration program, this funding will support the development of a circular economy for rare earth elements for permanent magnets and the recycling of graphite for use in lithium-ion batteries in Canada.
Cyclic Materials (CM) is receiving $4.9 million to build a demonstration plant that will produce high-purity rare earth oxide and a cobalt-nickel hydroxide product from recycled materials.
Green Graphite Technologies (GGT) will receive $3.5 million to advance its GraphRenew technology which transforms used graphite into a material that can be reused. The upgraded graphite will undergo testing for use in electric vehicles and other battery-powered technologies. By focusing on recycling and upgrading graphite, GGT’s project could address gaps in the battery supply chain and support the commercialization of recycled materials.
Member of Parliament for Kingston and the Islands Mark Gerretsen announced the investments on behalf of the Minister of Energy and Natural Resources, noting that the projects will strengthen Kingston’s role as a leader in clean technology.
“New technologies will help address gaps in our world-leading supply chain, seize the economic opportunity presented to us, keep Canadian industry competitive in a rapidly evolving global context, and create jobs — now and for future generations. This is important news for Kingston, and beyond," said Minister of Energy and Natural Resources Hon. Jonathan Wilkinson.
Canada’s focus on critical minerals is part of a broader strategy to build a strong domestic supply chain for clean technologies, supporting goals to reduce greenhouse gas emissions by 40% to 45% by 2030 and reach net-zero emissions by 2050.
For more information, visit www.Canada.ca.
November 21, 2024
November 20, 2024
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