Nth Cycle appears poised for hockey stick growth
The alum of the Innovation Crossroads program at Oak Ridge National Laboratory is moving into a 46,000-square-foot building with plans to quadruple its workforce.
That certainly appears to be the case with the company’s relocation to a 46,000-square-foot building in Burlington, MA, a suburb of Boston, that will be built out in phases. Nth Cycle currently has 30 employees but has plans to grow to 120.
Co-founded by Megan O’Connor who serves as the Chief Executive Officer, the company has developed an electrochemical extraction device designed to transition away from reliance on primary mining of rare earth metals towards the recycling of them. Nth Cycle’s product uses electro-extraction technology to reclaim valuable metals to create a secure, secondary source of these metals here in the U.S. with an emphasis on protecting the future in clean energy advancements, enabling manufacturing and recycling industries to access new sources of metals.
The company made news recently when it was named as one of 12 winners of BloombergNEF’s annual award for potentially game-changing innovation in climate solutions and just days later was reportedly well on its way to raising a $50 million Series B funding round.