{
  "projectionVersion": "smpt-investigation-1",
  "projectId": "prj-ca-cyclic-kingston-centre-of-excellence",
  "corpus": {
    "revision": "2026-11-03",
    "legalStatusCutoff": "2026-11-03",
    "view": "current_corpus_revision",
    "notice": "Curated corpus revision, not source freshness or historical known-as-of coverage. Financial histories retain their own status dates."
  },
  "project": {
    "id": "prj-ca-cyclic-kingston-centre-of-excellence",
    "name": "Kingston Centre of Excellence for Rare Earth Recycling",
    "sponsorOrgIds": [
      "org-cyclic-materials"
    ],
    "locations": [
      {
        "countryCode": "CA",
        "subnational": "Ontario",
        "asStated": "Kingston, Ontario"
      }
    ],
    "stages": [
      "separation",
      "processing",
      "recycling",
      "research_development"
    ],
    "materialIds": [
      "rare-earth-elements"
    ],
    "materialAttribution": "tracked_only",
    "untrackedMaterialsAsStated": [],
    "evidence": [
      {
        "sourceId": "src-cyclic-centre-excellence-2025",
        "supports": [
          "name",
          "sponsors",
          "location",
          "stages",
          "materials"
        ],
        "evidence": "explicit",
        "locator": "Announcement body; A Strategic Facility Serving a Circular Future",
        "note": "Cyclic describes a Kingston Centre of Excellence combining its first commercial rare-earth recovery Hub with R&D. The facility processes magnet-rich end-of-life feedstock into recycled mixed rare-earth oxide."
      },
      {
        "sourceId": "src-nrcan-gpi-programme",
        "supports": [
          "stages",
          "materials"
        ],
        "evidence": "explicit",
        "locator": "GPI funded projects — Contribution funding — Cyclic Materials Inc.",
        "note": "NRCan says the project advances rare-earth processing, separation and metallization technologies using end-of-life materials; recycling, processing and separation are represented directly in the tracker taxonomy."
      }
    ],
    "notes": "The Centre of Excellence is separate from the earlier Kingston Demonstration Plant recorded as prj-ca-cyclic-kingston-demonstration-plant. The June 2025 company announcement describes the commercial-scale Hub and R&D facility; the January 2026 CGF source says that Hub was then under construction."
  },
  "organizations": [
    {
      "id": "org-ca-canada-growth-fund",
      "name": "Canada Growth Fund",
      "nameOriginal": null,
      "aliases": [],
      "kind": "public_financier",
      "roles": [
        {
          "role": "provider",
          "recordId": "fin-ca-cgf-cyclic-2026-equity"
        }
      ],
      "evidence": [
        {
          "sourceId": "src-nrcan-g7-cmpa-2025",
          "supports": [
            "name",
            "kind",
            "country",
            "actor"
          ],
          "evidence": "ambiguous",
          "locator": "Nouveau Monde Graphite paragraph; Rio Tinto paragraph",
          "note": "Named as the source of investments and an \"equity-like royalty investment\" in a Government of Canada announcement; the backgrounder does not describe its ownership."
        }
      ]
    },
    {
      "id": "org-ca-feddev-ontario",
      "name": "Federal Economic Development Agency for Southern Ontario",
      "nameOriginal": null,
      "aliases": [
        "FedDev Ontario"
      ],
      "kind": "government",
      "roles": [
        {
          "role": "provider",
          "recordId": "fin-ca-feddev-cyclic-2025-contribution"
        }
      ],
      "evidence": [
        {
          "sourceId": "src-nrcan-g7-cmpa-2025",
          "supports": [
            "name",
            "kind",
            "country",
            "actor"
          ],
          "evidence": "explicit",
          "locator": "Ucore paragraph",
          "note": null
        }
      ]
    },
    {
      "id": "org-ca-nrcan",
      "name": "Natural Resources Canada",
      "nameOriginal": null,
      "aliases": [
        "NRCan"
      ],
      "kind": "government",
      "roles": [
        {
          "role": "provider",
          "recordId": "fin-ca-gpi-cyclic-2026-centre-excellence"
        }
      ],
      "evidence": [
        {
          "sourceId": "src-nrcan-cmrdd-2024",
          "supports": [
            "name",
            "kind",
            "country",
            "actor"
          ],
          "evidence": "explicit",
          "locator": "Issuer; third and fourth paragraphs",
          "note": "\"Natural Resources Canada (NRCan) is providing $4.9 million to Cyclic Materials\""
        }
      ]
    },
    {
      "id": "org-cyclic-materials",
      "name": "Cyclic Materials Incorporated",
      "nameOriginal": null,
      "aliases": [
        "Cyclic Materials Inc."
      ],
      "kind": "company",
      "roles": [
        {
          "role": "registered_sponsor",
          "recordId": "prj-ca-cyclic-kingston-centre-of-excellence"
        },
        {
          "role": "recipient",
          "recordId": "fin-ca-cgf-cyclic-2026-equity"
        },
        {
          "role": "recipient",
          "recordId": "fin-ca-feddev-cyclic-2025-contribution"
        },
        {
          "role": "recipient",
          "recordId": "fin-ca-gpi-cyclic-2026-centre-excellence"
        }
      ],
      "evidence": [
        {
          "sourceId": "src-nrcan-cmrdd-2024",
          "supports": [
            "name",
            "kind"
          ],
          "evidence": "explicit",
          "locator": "Second paragraph; closing quotation attribution",
          "note": null
        }
      ]
    }
  ],
  "financialInstruments": [
    {
      "id": "fin-ca-cgf-cyclic-2026-equity",
      "eventId": "evt-ca-cgf-cyclic-2026",
      "instrument": "equity",
      "valueRole": "commitment",
      "capitalSource": "public_enterprise",
      "projectRelationship": "directly_attributable",
      "projectId": "prj-ca-cyclic-kingston-centre-of-excellence",
      "associatedProjectIds": [],
      "amount": {
        "value": "25000000",
        "currency": "USD",
        "qualifier": "exact",
        "amountAsStated": "US$25 million",
        "currencyBasis": "stated",
        "basisNote": null,
        "basisLabel": null
      },
      "amountBasis": "current_recorded_terms_not_historical_totals",
      "provider": "Canada Growth Fund",
      "providerJurisdiction": "canada",
      "providerOrgIds": [
        "org-ca-canada-growth-fund"
      ],
      "recipient": "Cyclic Materials Inc.",
      "recipientOrgIds": [
        "org-cyclic-materials"
      ],
      "programmeId": null,
      "legalAuthority": null,
      "facility": null,
      "locations": [
        {
          "countryCode": "CA",
          "subnational": "Ontario",
          "asStated": "Kingston, Ontario"
        }
      ],
      "materialIds": [
        "rare-earth-elements"
      ],
      "stages": [
        "processing",
        "recycling",
        "research_development"
      ],
      "currentFinancialStatus": "contracted",
      "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."
        }
      ],
      "legacyPhysicalObservations": [
        {
          "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\"."
        }
      ],
      "terms": [],
      "statedOutcomes": [],
      "relationships": [],
      "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."
    },
    {
      "id": "fin-ca-feddev-cyclic-2025-contribution",
      "eventId": "evt-ca-feddev-cyclic-2025",
      "instrument": "unspecified",
      "valueRole": "commitment",
      "capitalSource": "public",
      "projectRelationship": "directly_attributable",
      "projectId": "prj-ca-cyclic-kingston-centre-of-excellence",
      "associatedProjectIds": [],
      "amount": {
        "value": "5000000",
        "currency": "CAD",
        "qualifier": "exact",
        "amountAsStated": "$5,000,000.00",
        "currencyBasis": "issuer_context",
        "basisNote": null,
        "basisLabel": null
      },
      "amountBasis": "current_recorded_terms_not_historical_totals",
      "provider": "Federal Economic Development Agency for Southern Ontario",
      "providerJurisdiction": "canada",
      "providerOrgIds": [
        "org-ca-feddev-ontario"
      ],
      "recipient": "Cyclic Materials Inc.",
      "recipientOrgIds": [
        "org-cyclic-materials"
      ],
      "programmeId": null,
      "legalAuthority": null,
      "facility": null,
      "locations": [
        {
          "countryCode": "CA",
          "subnational": "Ontario",
          "asStated": "Kingston, Ontario"
        }
      ],
      "materialIds": [
        "rare-earth-elements"
      ],
      "stages": [
        "recycling"
      ],
      "currentFinancialStatus": "contracted",
      "financialStatusHistory": [
        {
          "status": "contracted",
          "date": "2025-09-01",
          "sourceId": "src-open-canada-feddev-cyclic-2025",
          "note": "The federal disclosure provides an agreement number, agreement value and agreement period beginning 1 September 2025."
        }
      ],
      "legacyPhysicalObservations": [
        {
          "status": "announced",
          "date": "2025-06-11",
          "sourceId": "src-cyclic-centre-excellence-2025",
          "note": "Cyclic announced the Kingston Centre of Excellence and its first commercial Hub."
        },
        {
          "status": "construction",
          "date": "2026-01-20",
          "sourceId": "src-cgf-cyclic-2026",
          "note": "The later CGF release says the first commercial-scale Kingston Hub was under construction."
        }
      ],
      "terms": [],
      "statedOutcomes": [],
      "relationships": [],
      "evidence": [
        {
          "sourceId": "src-open-canada-feddev-cyclic-2025",
          "supports": [
            "instrument",
            "value_role",
            "capital_source",
            "amount",
            "provider",
            "recipient",
            "project",
            "location",
            "stages",
            "materials",
            "status"
          ],
          "evidence": "explicit",
          "locator": "Agreement Number; Agreement Value; Agreement Date; Description; Organization; Agreement Type; Recipient; Program",
          "note": "The disclosure calls the instrument a \"Contribution\". The tracker keeps instrument unspecified because this source does not state whether the contribution is repayable and no narrower tracker instrument can be assigned safely."
        },
        {
          "sourceId": "src-cyclic-centre-excellence-2025",
          "supports": [
            "project",
            "location",
            "stages",
            "materials",
            "status"
          ],
          "evidence": "explicit",
          "locator": "Announcement body; A Strategic Facility Serving a Circular Future",
          "note": null
        },
        {
          "sourceId": "src-cgf-cyclic-2026",
          "supports": [
            "status"
          ],
          "evidence": "explicit",
          "locator": "Company description",
          "note": "Supports the later construction status only."
        }
      ],
      "notes": "The Government of Canada disclosure records Agreement 1019177 under FedDev Ontario's Business Scale-up and Productivity program. The agreement runs through 30 September 2028. Because the disclosure says only \"Contribution\", the tracker does not assume grant/non-repayable treatment."
    },
    {
      "id": "fin-ca-gpi-cyclic-2026-centre-excellence",
      "eventId": "evt-ca-g7-cmpa-2026",
      "instrument": "grant",
      "valueRole": "commitment",
      "capitalSource": "public",
      "projectRelationship": "directly_attributable",
      "projectId": "prj-ca-cyclic-kingston-centre-of-excellence",
      "associatedProjectIds": [],
      "amount": {
        "value": "9100000",
        "currency": "CAD",
        "qualifier": "up_to",
        "amountAsStated": "up to $9.1 million",
        "currencyBasis": "issuer_context",
        "basisNote": null,
        "basisLabel": null
      },
      "amountBasis": "current_recorded_terms_not_historical_totals",
      "provider": "Natural Resources Canada (Global Partnerships Initiative)",
      "providerJurisdiction": "canada",
      "providerOrgIds": [
        "org-ca-nrcan"
      ],
      "recipient": "Cyclic Materials Inc.",
      "recipientOrgIds": [
        "org-cyclic-materials"
      ],
      "programmeId": null,
      "legalAuthority": null,
      "facility": null,
      "locations": [
        {
          "countryCode": "CA",
          "subnational": "Ontario",
          "asStated": "Kingston, Ontario"
        }
      ],
      "materialIds": [
        "rare-earth-elements"
      ],
      "stages": [
        "separation",
        "processing",
        "recycling"
      ],
      "currentFinancialStatus": "decided",
      "financialStatusHistory": [
        {
          "status": "decided",
          "date": "2026-03-02",
          "sourceId": "src-nrcan-cmpa-2026-round2",
          "note": "The backgrounder calls the investment \"conditionally approved\". It is therefore recorded as decided, not contracted."
        }
      ],
      "legacyPhysicalObservations": [
        {
          "status": "construction",
          "date": "2026-01-20",
          "sourceId": "src-cgf-cyclic-2026",
          "note": "The CGF release says Cyclic was constructing its first commercial-scale Hub in Kingston."
        }
      ],
      "terms": [],
      "statedOutcomes": [],
      "relationships": [],
      "evidence": [
        {
          "sourceId": "src-nrcan-cmpa-2026-round2",
          "supports": [
            "value_role",
            "capital_source",
            "amount",
            "provider",
            "recipient",
            "project",
            "location",
            "stages",
            "materials",
            "status"
          ],
          "evidence": "explicit",
          "locator": "Cyclic Materials bullet",
          "note": "The March backgrounder identifies the Kingston rare-earth recycling Centre of Excellence, the up-to-C$9.1 million GPI amount and its conditionally approved status."
        },
        {
          "sourceId": "src-nrcan-gpi-programme",
          "supports": [
            "instrument",
            "project",
            "stages",
            "materials"
          ],
          "evidence": "explicit",
          "locator": "GPI description; GPI funded projects — Contribution funding — Cyclic Materials Inc.",
          "note": "The programme page describes GPI contribution funding as non-repayable and says Cyclic's funding advances processing, separation and metallization technologies for an integrated rare-earth recycling value chain; normalized to the tracker's grant instrument."
        },
        {
          "sourceId": "src-cgf-cyclic-2026",
          "supports": [
            "status"
          ],
          "evidence": "explicit",
          "locator": "Company description",
          "note": "Supports the project's construction status, not the GPI financial status."
        }
      ],
      "notes": "A current GPI programme page now lists Cyclic among funded projects, but it does not publish an executed agreement date for this award. The financial lifecycle therefore remains at the March 2 conditionally approved/decided stage rather than being promoted to contracted."
    }
  ],
  "nonallocativeAssociations": [],
  "designations": [],
  "nativeMilestones": [],
  "policyContexts": [
    {
      "id": "evt-ca-cgf-cyclic-2026",
      "relationship": "finance_or_designation_parent",
      "jurisdiction": "canada",
      "issuingBody": "Canada Growth Fund",
      "titleEn": "Canada Growth Fund invests US$25 million in Cyclic Materials to strengthen Canada’s rare-earth supply chain",
      "titleOriginal": "Canada Growth Fund Invests US$25 Million in Cyclic Materials to Strengthen Canada’s Rare Earth Supply Chain",
      "documentNumber": null,
      "date": "2026-01-20",
      "policyStatus": "active",
      "sourceIds": [
        "src-cgf-cyclic-2026"
      ]
    },
    {
      "id": "evt-ca-feddev-cyclic-2025",
      "relationship": "finance_or_designation_parent",
      "jurisdiction": "canada",
      "issuingBody": "Federal Economic Development Agency for Southern Ontario",
      "titleEn": "FedDev Ontario contribution agreement 1019177 with Cyclic Materials",
      "titleOriginal": "Grants and Contributions: Agreement 1019177",
      "documentNumber": "1019177",
      "date": "2025-09-01",
      "policyStatus": "active",
      "sourceIds": [
        "src-open-canada-feddev-cyclic-2025"
      ]
    },
    {
      "id": "evt-ca-g7-cmpa-2026",
      "relationship": "finance_or_designation_parent",
      "jurisdiction": "canada",
      "issuingBody": "Natural Resources Canada",
      "titleEn": "Canada announces second round of Critical Minerals Production Alliance partnerships and investments",
      "titleOriginal": "Canada secures 30 new critical minerals partnerships and unlocks $12.1 billion in mining project capital",
      "documentNumber": null,
      "date": "2026-03-02",
      "policyStatus": "active",
      "sourceIds": [
        "src-nrcan-cmpa-2026-round2"
      ]
    }
  ],
  "coannouncedControls": [],
  "financePackageReferences": [],
  "unknowns": [
    "No project-native source-reviewed industrial milestone is published. Attributed activity in financing histories remains a separate evidence class; no exact milestone date or facility-wide conclusion is inferred.",
    "Historical amount review is incomplete. Current amounts cannot be read as a time series of earlier commitments.",
    "Structural links and shared materials do not demonstrate that a government measure caused an industrial outcome."
  ],
  "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",
      "sourceType": "official",
      "confidence": "primary",
      "publishedOn": "2026-01-23",
      "accessedOn": "2026-10-02"
    },
    {
      "id": "src-cyclic-centre-excellence-2025",
      "title": "Cyclic Materials Announces USD $25M Investment to Establish Centre of Excellence for Rare Earth Recycling in Kingston, Ontario",
      "publisher": "Cyclic Materials",
      "url": "https://cyclicmaterials.earth/resources/cyclic-materials-announces-usd-25m-investment-to-establish-centre-of-excellence-for-rare-earth-recycling-in-kingston-ontario",
      "language": "en",
      "sourceType": "official",
      "confidence": "primary",
      "publishedOn": "2025-06-11",
      "accessedOn": "2026-10-02"
    },
    {
      "id": "src-nrcan-cmpa-2026-round2",
      "title": "Canada secures 30 new critical minerals partnerships and unlocks $12.1 billion in mining project capital",
      "publisher": "Natural Resources Canada",
      "url": "https://www.canada.ca/en/natural-resources-canada/news/2026/03/canada-secures-30-new-critical-minerals-partnerships-and-unlocks-121-billion-in-mining-project-capital.html",
      "language": "en",
      "sourceType": "official",
      "confidence": "primary",
      "publishedOn": "2026-03-02",
      "accessedOn": "2026-10-02"
    },
    {
      "id": "src-nrcan-cmrdd-2024",
      "title": "Government of Canada Supporting Critical Minerals Processing in Kingston",
      "publisher": "Natural Resources Canada",
      "url": "https://www.canada.ca/en/natural-resources-canada/news/2024/09/government-of-canada-supporting-critical-minerals-processing-in-kingston.html",
      "language": "en",
      "sourceType": "official",
      "confidence": "primary",
      "publishedOn": "2024-09-04",
      "accessedOn": "2026-09-23"
    },
    {
      "id": "src-nrcan-g7-cmpa-2025",
      "title": "Backgrounder: Canada unlocks 26 new investments and partnerships with 9 allied countries to secure critical minerals supply chains",
      "publisher": "Natural Resources Canada",
      "url": "https://www.canada.ca/en/natural-resources-canada/news/2025/10/backgrounder-canada-unlocks-25-new-investments-and-partnerships-with-9-allied-countries-to-secure-critical-minerals-supply-chains.html",
      "language": "en",
      "sourceType": "official",
      "confidence": "primary",
      "publishedOn": "2025-10-31",
      "accessedOn": "2026-09-23"
    },
    {
      "id": "src-nrcan-gpi-programme",
      "title": "Global Partnerships Initiative",
      "publisher": "Natural Resources Canada",
      "url": "https://www.canada.ca/en/campaign/critical-minerals-in-canada/federal-support-for-critical-mineral-projects-and-value-chains/global-partnerships-initiative.html",
      "language": "en",
      "sourceType": "official",
      "confidence": "primary",
      "publishedOn": null,
      "accessedOn": "2026-10-02"
    },
    {
      "id": "src-open-canada-feddev-cyclic-2025",
      "title": "Grants and Contributions: Agreement 1019177",
      "publisher": "Government of Canada Open Government Portal",
      "url": "https://search.open.canada.ca/grants/record/feddevontario,062-2025-2026-Q4-00111,current",
      "language": "en",
      "sourceType": "dataset",
      "confidence": "primary",
      "publishedOn": null,
      "accessedOn": "2026-10-02"
    }
  ],
  "limitations": [
    "Policy contexts here parent existing finance or designation records; a shared material or date never creates a causal edge.",
    "Coannounced controls are announcement siblings only, not project-specific restrictions or effects.",
    "Direct project attribution and nonallocative association are different. No individual monetary allocation, financial sum or payment conclusion is authorized.",
    "Financing statuses describe the current corpus revision. Legacy implementation observations require scoped review and are not project-native milestones.",
    "A milestone's event/target date, publication/access horizon and reviewer date are separate. A planned target is not automatically occurred.",
    "An absent reviewed milestone means no approved entry in SMPT, not that the facility is inactive or failed.",
    "Amounts retain current source-stated terms, original currency and exact decimal strings. This packet computes no historical financial totals or project-wide monetary allocation.",
    "Published source review does not establish independent on-site verification. Source, financial-status, occurrence, target and review dates remain distinct."
  ]
}