Shared micromobility company Lime has reached an agreement to send used scooter and electric bicycle batteries to Redwood Materials, a recycling firm that extracts valuable minerals such as lithium, cobalt, nickel, and copper.
According to IT media outlet TechCrunch on Monday, the deal makes Redwood Materials the exclusive battery recycling partner for Lime’s shared scooters and e-bikes located across cities in the United States, Germany, and the Netherlands.
Lime has previously partnered with other recycling companies, including through Sprout and downstream suppliers. However, this is the first time Lime has partnered directly with a North American battery recycler to process, recover, and return raw materials into the supply chain.
Redwood Materials recovers materials from batteries that are no longer usable. These recovered and recycled resources are then reintegrated into the battery manufacturing process. Meanwhile, Lime aims to fully decarbonize its operations by 2030. The company plans to release its 2024 carbon emissions report in May.
