Cyclic Materials and Lime Announce Pioneering Partnership to Recycle Electric Motors from North American Micromobility Fleet

TORONTO--(BUSINESS WIRE)--Cyclic Materials (“Cyclic”), a pioneer in the circular supply of rare-earth elements (REEs), and Lime, the world’s largest provider of shared micromobility electric vehicles, announce a strategic agreement to recycle magnets from retired electric motors powering e-bikes and e-scooters across Canada and the United States. The agreement marks the first at-scale recycling initiative focused on rare earth magnets in North America in the micromobility sector.

“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.”

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.

Today, less than 1% 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.¹

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.

“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, VP 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.”

With a fleet of more than 270,000 EVs and hundreds of millions of rides taken globally, Lime is a global leader in sustainable urban transportation and critical transportation in cities across North America and the world. Lime has achieved a -59.5% reduction in CO₂ emissions since 2019 in 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.

About Lime
Lime's mission is to build a future where transportation is shared, affordable, and carbon-free. As the world's largest provider of shared electric vehicles, Lime partners with cities to deploy electric bikes and scooters to serve any trip under five miles. A past TIME Magazine 100 Most Influential Company and Fast Company Brand That Matters, Lime has powered hundreds of millions of rides across 30 countries and five continents, spurring a new generation of clean alternatives to car ownership. Learn more at li.me.

About Cyclic Materials
Cyclic Materials, founded in 2021, is a cleantech company building a circular supply chain for rare earth elements (REEs) and other critical materials essential to the clean energy transition. Its innovative technology transforms end-of-life products into valuable raw materials used in EVs, wind turbines, and electronics. In 2023, the company launched a commercial demo facility using its Mag-Cycle℠ process to recover rare earth magnets. In 2024, it opened a second facility in Kingston, Ontario, producing Mixed Rare Earth Oxide via its REEPure℠ hydrometallurgical process. With demand for REE-based magnets surging, Cyclic Materials is scaling globally across North America, Europe, and Asia. Mesa, Arizona, is its first U.S. location. In recognition of its pioneering work, it was named the #8 Most Innovative company in North America by Fast Company in 2025. Learn more at cyclicmaterials.earth.