Cyclic Materials and Lime to Launch Large-Scale Electric Motor Recycling Initiative

According to recent reports, Cyclic Materials, a Toronto-based company in rare earth element recycling, has formed a strategic partnership with Lime, the world’s largest provider of shared electric vehicles. The collaboration is set to focus on recycling magnets from retired electric motors used in Lime’s fleet of e-bikes and e-scooters across Canada and the United States. The companies noted that this move marks the first large-scale initiative aimed at recovering rare earth magnets from the micromobility sector in North America.

The agreement will see Cyclic Materials utilize its advanced recycling technologies, including MagCycle and REEPure, to recover rare earth elements from decommissioned motors. The materials will be processed in Cyclic’s facilities located in Mesa, Arizona, and Kingston, Ontario. The company highlighted that this effort addresses a critical challenge, as less than 1% of rare earth magnets are currently recycled globally, despite the increasing demand for these elements in the clean energy sector.

In a statement reported by Cyclic’s CEO Ahmad Ghahreman, the partnership is seen as a significant step in advancing the circular economy and closing the loop in the clean energy supply chain. “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 for rare earth elements across the industry,” Ghahreman said.

According to the latest data from Adamas Intelligence report cited by Cyclic, over 43,000 metric tonnes of end-of-life NdFeB magnets are expected to be generated in the U.S. alone by 2035, making recycling an urgent priority. With this partnership, Lime and Cyclic aim to recover a significant portion of these materials, preventing them from being discarded and contributing to the growing global demand for rare earth elements.

Lime, which operates over 270,000 electric vehicles globally, has been a leader in sustainable urban transportation. The company has already reduced its CO₂ emissions by 59.5% since 2019 and aims to achieve net-zero emissions by 2030. As reported on Lime’s official website, the company’s commitment to environmental sustainability is further reflected in this new recycling initiative, which will help recover valuable resources from Lime’s fleet.

The collaboration also comes at a time when the world is increasingly turning toward sustainable and circular practices in all sectors. The rise of electric vehicles and the growing demand for rare earth elements have made recycling a critical part of the supply chain. Through the partnership with Cyclic, Lime is enhancing its environmental performance and ensuring that critical materials are recovered, contributing to the ongoing clean energy transition.

Cyclic and Lime are set to begin operations in the coming weeks, with initial shipments already planned. As the partnership progresses, both companies expect to ramp up their efforts to recycle and recover rare earth magnets at scale throughout 2025, significantly advancing the circular economy within the electric mobility sector.

Source: Cyclic Materials