Cyclic Materials works with Lime to recover critical rare earth magnets from e-bikes
The partnership will recover rare earth materials from decommissioned motors in Lime’s North American fleets
Cyclic Materials holds a strong presence in the circular supply of rare earth elements (REEs) segment and has chosen to work with Lime, a provider of shared micromobility electric vehicles, to create a strategic agreement to recycle magnets from retired electric motors powering e-bikes and e-scooters across Canada and the U.S.
Under the new partnership, Cyclic will recover rare earth materials from decommissioned motors from vehicles in Lime's U.S. and Canadian markets. The agreement will be serviced primarily through Cyclic's recently announced Mesa, Arizona facility as well as its Kingston, Ontario location, bringing scalable and sustainable rare earth recycling to one of the fastest-growing clean transportation segments.
Rycling rare earth magnets remain an untapped resource
Today, less than 1 percent of rare earth magnets are recycled globally, leaving an 'above-ground mine' of over 43,000 metric tonnes of end-of-life NdFeB magnets expected in the U.S. alone by 2035, according to Adamas Intelligence.
Together, Cyclic and Lime are addressing this challenge by leveraging Cyclic Materials' MagCycle and REEPure technologies to recover rare earth magnets from end-of-life vehicles. This collaboration unlocks a critical, untapped resource and establishes a new benchmark for circularity in clean mobility. This partnership builds on Cyclic's rapid growth momentum and strengthens both companies' leadership in advancing circular solutions for the clean energy transition.
Lime focuses on sustainable transportation
With a fleet of more than 270,000 EVs and hundreds of millions of rides taken globally, Lime focuses on sustainable urban transportation and critical transportation in cities across North America and the world. Lime has achieved a -59.5 percent reduction in CO2 emissions since 2019 on its path to net-zero by 2030 and expects to share 2024 results in the coming months.
Cyclic and Lime plan to begin operations in the coming weeks, with initial shipments already planned, while activities are expected to ramp up throughout 2025.
"Cyclic is excited to partner with Lime, a company demonstrating what true circularity looks like in action," said Ahmad Ghahreman, CEO and co-founder of Cyclic Materials. "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. We are proud to support Lime's bold net-zero and sustainability goals, while helping build a future where materials are recycled and reused, sustaining a more resilient supply of rare earth elements across the industry."
"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," said Andrew Savage, vice president of sustainability at Lime. "Through Cyclic's innovative approach, we are able to give new life to critical materials from decommissioned electric motors, increasing the recovery of these materials through the end-of-life process and, hopefully, supporting such practices to scale across electric mobility and beyond."
