The joint Micromobitness company Lime has reached an agreement to send batteries used to its scooters and e-biccallets in red wood materials, which will extract and recycle critical minerals such as lithium, cobalt, nickel and copper.
The deal announced on Monday makes the material redwood to the exclusive battery recycling partner for the lime shared scooters and e-bicking located in cities across the United States, Germany and the Netherlands. The agreement does not cover any region in which lime operates, a list that includes cities across Europe, Asia and Australia.
Lime has had other recycling partnerships in the past, especially with sprout through its sellers in the lower course. However, this is the first time that the joint micromobility company has had a direct relationship with a Battery recycling in North America that will directly process the recovery material and return it to the supply chain.
Redwood materials, Carson City, Nevada-based starting, founded by the former CFO JB Straubel, will recover materials from the batteries once they can no longer be used. Once recovered and recycled, the materials will be reset to the battery production process. This closed loop production system which can reduce the demand for minerals of mining and refining-is at the heart of the business model of Redwood materials.
The attempt also matches the intentions of the lime’s own durability. Lime is intended to decarbonize its business by 2030. The company has made progress in reducing scope 1, 2 and 3 emissions by 59.5% in five years from its initial years of 2019. Lime plans to report its results of carbon emissions in May 2024 in May.
“This cooperation marks significant progress towards creating a more circular supply chain, helping our batteries are not only responsible after reaching their end of life, but their materials turn into the battery supply chain,” said Andrew Savage, VP for lime stability in a statement.
Lime also has Gomi partnerships in the UK and Voltr in France and other European countries to harvest these applicable “second” battery cells, including for consumer electronics, such as portable speakers and battery packages, among other uses.
Redwood Materials have deals with other micromobilization companies, including Lyft, Bikes Rad Power, and specialized to recycle their bicycle and scooter batteries. Redwood, who has raised more than $ 2 billion in private funds, announced earlier this month that he opened an R&D center in San Francisco.
