{
  "commitment": {
    "id": "fin-ca-cgf-cyclic-2026-equity",
    "eventId": "evt-ca-cgf-cyclic-2026",
    "relationships": [],
    "instrument": "equity",
    "valueRole": "commitment",
    "capitalSource": "public_enterprise",
    "amount": {
      "value": "25000000",
      "currency": "USD",
      "qualifier": "exact",
      "amountAsStated": "US$25 million",
      "currencyBasis": "stated"
    },
    "provider": "Canada Growth Fund",
    "providerJurisdiction": "canada",
    "providerOrgIds": [
      "org-ca-canada-growth-fund"
    ],
    "legalAuthority": null,
    "programmeId": null,
    "recipient": "Cyclic Materials Inc.",
    "recipientOrgIds": [
      "org-cyclic-materials"
    ],
    "project": "Kingston Centre of Excellence for Rare Earth Recycling",
    "projectId": "prj-ca-cyclic-kingston-centre-of-excellence",
    "facility": null,
    "locations": [
      {
        "countryCode": "CA",
        "subnational": "Ontario",
        "asStated": "Kingston, Ontario"
      }
    ],
    "materialIds": [
      "rare-earth-elements"
    ],
    "materialAttribution": "tracked_only",
    "untrackedMaterialsAsStated": [],
    "stages": [
      "processing",
      "recycling",
      "research_development"
    ],
    "stageAllocation": "multi_stage_unallocated",
    "financialStatusHistory": [
      {
        "status": "contracted",
        "date": "2026-01-20",
        "sourceId": "src-cgf-cyclic-2026",
        "note": "The CGF release says it \"has invested\" US$25 million and describes the transaction as part of a Series C preferred-equity round. Recorded as a binding equity transaction, not as disbursed cash because no payment timing is stated."
      }
    ],
    "implementationStatusHistory": [
      {
        "status": "construction",
        "date": "2026-01-20",
        "sourceId": "src-cgf-cyclic-2026",
        "note": "The release says Cyclic was \"now constructing its first commercial-scale Hub in Kingston\"."
      }
    ],
    "lifecycleReview": {
      "financialStatusCheckedAt": "2026-10-02",
      "implementationStatusCheckedAt": "2026-10-02"
    },
    "terms": [],
    "outcomes": [],
    "evidence": [
      {
        "sourceId": "src-cgf-cyclic-2026",
        "supports": [
          "instrument",
          "value_role",
          "capital_source",
          "amount",
          "provider",
          "recipient",
          "project",
          "location",
          "stages",
          "materials",
          "status"
        ],
        "evidence": "explicit",
        "locator": "Opening paragraphs; Transaction Highlights; company description",
        "note": "The source identifies preferred equity, the public investor, Cyclic, the amount, Kingston Centre expansion/Hub, rare-earth recycling and processing, and current construction."
      }
    ],
    "notes": "CGF says the US$25 million supports expansion of the Kingston Centre of Excellence, Canadian R&D, execution of the first Hub and broader commercialization. The row links the named Kingston project because the source directly supports it, but the amount is not treated as exclusively allocated to construction or any single stage."
  },
  "event": {
    "id": "evt-ca-cgf-cyclic-2026",
    "date": "2026-01-20",
    "jurisdiction": "canada",
    "titleEn": "Canada Growth Fund invests US$25 million in Cyclic Materials to strengthen Canada’s rare-earth supply chain"
  },
  "parents": [],
  "children": [],
  "sources": [
    {
      "id": "src-cgf-cyclic-2026",
      "title": "Canada Growth Fund Invests US$25 Million in Cyclic Materials to Strengthen Canada’s Rare Earth Supply Chain",
      "publisher": "Canada Growth Fund",
      "url": "https://www.cgf-fcc.ca/en/news/canada-growth-fund-invests-us-25-million-in-cyclic-materials-to-strengthen-canadas-rare-earth-supply-chain/",
      "language": "en",
      "datePublished": "2026-01-23",
      "dateAccessed": "2026-10-02",
      "sourceType": "official",
      "confidence": "primary",
      "notes": "Canada Growth Fund press release. The page is dated 23 January 2026 and carries a Kingston dateline of 20 January 2026. It states that CGF invested US$25 million in Cyclic Materials as part of a US$75 million Series C preferred-equity round, supporting expansion of the Kingston Centre of Excellence, Canadian R&D, the first commercial Hub and broader commercialization. It also states that Cyclic was then constructing its first commercial-scale Hub in Kingston."
    }
  ]
}