CRITICAL MINERALSNth Cycle Is Bringing Critical Metals Refining to the U.S.
Much like Middle Eastern oil production in the 1970s, China today dominates the global refinement of critical metals that serve as the foundation of the United States economy. The U.S. needs another technological breakthrough to secure domestic supplies of metals like lithium, cobalt, copper, and rare earth elements, which are needed for everything from batteries to jet engines and electric motors. Nth Cycle thinks it has a solution.
Much like Middle Eastern oil production in the 1970s, China today dominates the global refinement of critical metals that serve as the foundation of the United States economy. In the 1970s, America’s oil dependence led to shortages that slowed growth and brought huge spikes in prices. But in recent decades, U.S. fracking technology created a new way to extract oil, transforming the nation from one of the world’s largest oil importers to one of the largest exporters.
Today the U.S. needs another technological breakthrough to secure domestic supplies of metals like lithium, cobalt, copper, and rare earth elements, which are needed for everything from batteries to jet engines and electric motors. Nth Cycle thinks it has a solution.
The company was co-founded by MIT Associate Professor Desirée Plata, CEO Megan O’Connor, and Chief Scientist Chad Vecitis to recover critical metals from industrial waste and ores using a patented, highly efficient technology known as electro-extraction.
“America is an incredibly resource-rich nation — it’s just a matter of extracting and converting those resources for use. That’s the role of refining,” says O’Connor, who worked on electro-extraction as a PhD student with Plata, back when both were at Duke University. “By filling that gap in the supply chain, we can make the United States the largest producer of critical metals in the world.”
Since last year, Nth Cycle has been producing cobalt and nickel using its first commercial system in Fairfield, Ohio. The company’s modular refining systems, which are powered by electricity instead of fossil fuels, can be deployed in a fraction of the time of traditional metal refining plants. Now, Nth Cycle aims to deploy its modular systems around the U.S. and Europe to establish new supply chains for the materials that power our economy.
“About 85 percent of the world’s critical minerals are refined in China, so it’s an economic and national security issue for us,” O’Connor says. “Even if we mine the materials here — we do have one operational nickel mine in Michigan — we then ship it overseas to be refined. Those materials are required components of multiple industries. Everything from our phones to our cars to our defense systems depend on them. I like to say critical minerals are the new oil.”
