Press releases

CIECH Ventures among investors in MagREEsource, a French startup that recycles rare metals and produces permanent magnets

CIECH Ventures, a technology start-up company, has become one of the investors in MagREEsource, which has developed a breakthrough solution for recycling and manufacturing permanent magnets based on rare earth metals – components needed, among other applications, in electromobility or wind power. The start-up, which was founded in 2020, plans to utilize the funds raised to build a permanent magnet recycling and manufacturing pilot plant.


Given the European Union's ambitious plan to build a sustainable and low-carbon economy with electromobility and renewable energy sources, demand for permanent magnets containing these elements is likely to increase significantly. The MagREEsource solution is an innovative and clean technology for recycling used magnets using hydrogen. It generates a significantly lower carbon footprint than fossil resource extraction. The technology is the result of 25 years of research at the CNRS research center in Grenoble and combines expertise in the materials science and metallurgy.


In addition to CIECH Ventures, investors included: Finindus (a Belgian VC fund established by ArcelorMittal, the world's largest steel producer, and the Flemish Region), Tangent Line (a Polish VC fund operating under the PFR Open Innovation program), EIT RawMaterials, and business angels from France affiliated with BADGE and Grenoble Angels.  


The purpose of CIECH Ventures is to monitor the market for technology start-ups, as well as to initiate cooperation between the Group and the most promising companies (in the form of investments, business partnerships, or pilots) developing technologies related to chemistry, sustainable industry, and agriculture. With CIECH's support, young, innovative companies looking for capital and growth opportunities can turn their unique ideas into reality in cooperation with a modern chemical concern operating on a global scale. CIECH Ventures' activities are aimed at increasing the efficiency and competitiveness of the Group's existing businesses, reducing the Group's impact on the environment, as well as seeking interesting market niches and new directions of development for CIECH. The activity of CIECH Ventures complements the activities of the professional R&D team operating within the Group, responsible for, among other things, innovative technologies implemented in the soda business. 



Mirosław Kuk, CIECH Group Spokesperson, tel. +48 723 66 86 86.


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CIECH is an international developing chemical group with a strong position on global markets. It is the second largest manufacturer of sodium carbonate and sodium bicarbonate in the European Union, the largest manufacturer of evaporated salt in Poland, the largest supplier of sodium silicates in Europe, the largest Polish manufacturer of plant protection products, and a leading producer of polyurethane foams in Poland. Its factories are located in Poland, Germany and Romania, and it employs over 3,000 people throughout the EU.


Since 2005, CIECH S.A. has been listed on the Warsaw Stock Exchange, and since 2016, simultaneously, on one of the largest stock exchanges in Europe - Börse Frankfurt. The development of the Group is supported by its strategic investor – Kulczyk Investments.


As one of the largest Polish exporters, CIECH ships its goods to almost each continent. They are used to manufacture products necessary in the everyday life of millions of people around the world. That is why the Group is a crucial element of numerous sectors of the economy – construction, automotive, agriculture, chemical, food and pharmaceutical industries.


CIECH combines a modern business approach and care for sustainable development. Since 2020, it has been a member of the United Nations Global Compact - the world's largest initiative that brings together socially, environmentally and economically responsible businesses.


Since 2021, CIECH has been consistently implementing its ESG Strategy, which includes eight commitments in the field of climate policy, social relations and corporate governance.


More information about the CIECH Group can be found at

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