Lime Partners with Redwood Materials for Battery Recycling
Lime, a shared micromobility company, has recently announced a groundbreaking agreement with Redwood Materials to recycle batteries used in its scooters and e-bikes. This partnership will focus on extracting critical minerals like lithium, cobalt, nickel, and copper from the batteries for recycling purposes.
The exclusive agreement, revealed on Monday, designates Redwood Materials as the sole battery recycling partner for Lime’s shared scooters and e-bikes in cities across the United States, Germany, and the Netherlands. While this partnership does not cover all regions where Lime operates globally, it signifies a significant step towards sustainable practices within the micromobility industry.
Prior to this collaboration, Lime had engaged in recycling initiatives with other partners, including Sprout through downstream vendors. However, this marks the first direct relationship between Lime and a battery recycler in North America, demonstrating a commitment to a more environmentally friendly approach to battery disposal.
Redwood Materials, a startup founded by former Tesla CFO JB Straubel and based in Carson City, Nevada, will be responsible for recovering materials from used batteries. These materials will then be recycled and reintroduced into the battery manufacturing process, creating a closed-loop system that reduces the need for mining and refining new minerals.
Both Lime and Redwood Materials share a common goal of sustainability. Lime aims to decarbonize its business by 2030 and has already made significant progress in reducing emissions over the past five years. By working with Redwood Materials, Lime is taking a proactive step towards achieving its environmental targets.
Andrew Savage, Lime’s VP for Sustainability, emphasized the importance of this collaboration in establishing a circular supply chain and ensuring responsible recycling of batteries. Additionally, Lime has formed partnerships with other companies like Gomi and VoltR to repurpose viable battery cells for second-life applications.
Redwood Materials has similar agreements with other micromobility companies, such as Lyft, Rad Power Bikes, and Specialized, to recycle e-bike and scooter batteries. With over $2 billion in private funding, Redwood Materials is at the forefront of battery recycling technology and recently inaugurated an R&D center in San Francisco.
