The focus of the cooperation is on the recovery of so-called rare earth magnets – a previously neglected resource in the recycling of e-bikes and e-scooters. The demand for these magnets, in particular neodymium-iron-boron (NdFeB), has risen sharply due to the triumph of electromobility. However, less than one per cent of these magnets are currently recycled worldwide. According to estimates by Adamas Intelligence, over 43,000 tonnes of old material could be available as an ‘above-ground mine’ in the USA by 2035.
With this initiative, Lime and Cyclic Materials are breaking new ground in North America. Cyclic is using its proprietary MagCycle and REEPure technologies to efficiently extract magnets from end-of-life electric motors and return the rare earths they contain to the raw material cycle. “This partnership sets a powerful precedent for how innovative companies can close critical loops in the clean energy supply chain through the recycling of the permanent magnets that power modern mobility,” said Ahmad Ghahreman, CEO of Cyclic Materials. The company, whose investors include car manufacturers BMW and JLR, already operates a demonstration plant in Kingston, Canada, and is currently building a recycling plant in Mesa, Arizona.
As part of the cooperation, Lime will supply motors from its decommissioned e-bikes and electric scooters from Canada and the USA. The company has a fleet of over 270,000 electric two-wheelers worldwide and is a key player in urban, low-emission mobility. Since 2019, Lime has reduced its CO₂ emissions by almost 60 per cent and aims to be carbon neutral by 2030.
Andrew Savage, Head of Sustainability at Lime, sees the partnership with Cyclic Materials as a logical next step: “Circularity is a core part of our sustainability mission. Partnering with Cyclic Materials helps us take a meaningful step towards enhancing the recovery of already-processed materials and placing them for reuse back into the supply chain.”
Lime intends to deliver the first electric motors for recycling to Cyclic Materials in the coming weeks, with plans to expand its activities in the course of 2025.
Back in April 2025, Lime announced another recycling partnership with the US company Redwood Materials, founded by former Tesla manager JB Straubel. The aim is to recover critical raw materials such as lithium, nickel and cobalt from lithium-ion batteries that are installed in Lime’s e-bikes and electric scooters. The recovered materials are to be used directly in new batteries. Together, Lime and Redwood are pursuing the establishment of a circular supply chain for batteries in the USA, Germany and the Netherlands. With both partnerships, Lime has thus embarked on a way to recycle important resources used in its vehicles.
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