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Nth Cycle
A metal processing technology company
About Nth Cycle
Nth Cycle is a metal processing and recycling technology company focused on providing a sustainable and cost-effective solution for recovering critical minerals from various sources, including electronic waste, low-grade ore, and mine tailings. The company developed an electro-extraction process, named 'The OYSTER', which is a significant departure from traditional, energy-intensive pyrometallurgy (smelting) and hydrometallurgy methods. This technology selectively recovers critical metals like cobalt, nickel, and manganese, which are essential components for manufacturing new batteries, particularly for electric vehicles (EVs) and other clean energy applications.
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The company was founded in 2017 by Megan O'Connor, who serves as the CEO, alongside co-founders Chad Vecitis and Desh Gunasekera. O'Connor's background as a PhD in Environmental Engineering from Duke University and her research as a Postdoctoral Fellow at Harvard University on electrochemical technologies for water treatment directly informed the development of Nth Cycle's core technology. The genesis of the company came from adapting this water treatment technology to selectively filter and recover valuable metals from waste streams.
Nth Cycle's business model involves deploying its OYSTER systems directly at the source of waste generation, such as recycling facilities or mining operations. This on-site processing capability reduces the logistical and environmental costs associated with transporting hazardous materials to centralized smelters. By producing high-purity metal products, known as Mixed Hydroxide Precipitate (MHP), Nth Cycle provides a domestic and environmentally friendly supply of critical materials for battery and EV manufacturers. The company has secured significant funding through various investment rounds, including a $44 million Series B in 2023, to scale its operations and deploy its technology more broadly across North America.
At a glance
- Status
- Operational
- Founded
- 2017
- Headquarters
- Burlington, United States
- Employees
- 64
- Open positions
- 5
- Dealroom signal
- 73.0/100
- Sub-industry
- Energy Storage, Waste Solution
- Sector
- Energy, Recycling, Mining Technologies, Lithium-Ion Batteries, Waste Reduction, Spinout, Sustainable Development Goals, EV Battery Recycling, EV Battery
- Technology
- Hardware, Deep Tech
- Business model
- Manufacturing
- Client focus
- b2b
Knowledge graph
More headlines
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| DEBTDebt | Dec 2023 | $7M | — | VoLo Earth Ventures | ↗ |
| SERIES BOther financing | Dec 2023 | $37M | $148M | VoLo Earth Ventures · Equinor Ventures · Caterpillar Ventures | ↗ |
Growth signals
Latest recorded traffic for Nth Cycle is 7.3K monthly website visits, down 27% over the last three months. Nth Cycle's team grew 4.9% over the past year.
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Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Seed3 investors entered at this stage
LaunchTN
Clean Energy Ventures
US Department of Energy
Series A5 investors entered at this stage
VoLo Earth Ventures
Mercuria Investment
MassMutual Ventures
Equinor Ventures
Caterpillar Ventures
Other known investors3 additional known investors
BloombergNEF
Duke University
Harvard University
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
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