Cyclic Materials says its process uses 95% less water and produces roughly 60% fewer emissions than rare earth mining does. (By 2035, there could be over 43,000 metric tons of recyclable rare earth magnets in the US alone.) CaveatsMaking a profit from rare earth recycling isn’t easy—it can cost more to collect and recycle rare earth magnets, which are deeply embedded in devices of different sizes and shapes, than a recycler will earn from reselling the metals. Earlier this year, the firm announced it will sell its recycled rare earth mixture to the Brussels-based chemical company Solvay. In the meantime, Cyclic Materials’ spoke facilities will also recycle aluminum, steel, and copper, providing additional revenue streams.