We're excited to be setting a new standard in sustainability, partnering with Canadian circular economy leader Cyclic Materials to recycle rare earth magnets from our retired electric vehicle motors across the United States and Canada.

A Canadian Solution to a Global Challenge

This groundbreaking partnership marks the first large-scale recycling initiative of its kind in North America. Together with Cyclic, we'll be recovering valuable rare earth elements from decommissioned Lime vehicle motors in Canadian and U.S. markets and returning them to the supply chain for reuse.

The agreement will be serviced primarily through Cyclic's facilities in Kingston, Ontario and Mesa, Arizona, bringing scalable and sustainable rare-earth recycling to one of the fastest-growing clean transportation segments.

"At Lime, sustainability is at the heart of everything we do. We recognize the important role we play in supporting Canadian cities that are pioneering sustainable transportation solutions," said Sonia Kandola, Sr. Director of Government Relations for Canada at Lime. "We're proud to contribute to ambitious climate and mobility goals, and our commitment to the planet goes far beyond individual rides—it extends across our entire operations, from using cleaner materials to advancing a circular supply chain. Our partnership with Canadian company Cyclic is a key step in turning these commitments into action, helping us lead the industry toward more innovative, sustainable practices and a cleaner future."

Addressing a Critical Supply Chain Gap

Currently, less than 1% of rare earth magnets are recycled globally. (Adamas Intelligence for Cyclic Materials, Outlook for End-of-Life NdFeB Magnets to 2035.) As vehicle electrification expands, this partnership tackles this challenge head-on by leveraging Cyclic Materials' innovative MagCycle℠ and REEPure℠ technologies to recover rare earth magnets from our end-of-life vehicles. As a Canadian pioneer in the circular supply of rare-earth elements, Cyclic Materials has developed these specialized technologies specifically to recover and reuse critical materials from end-of-life products, creating a more sustainable supply chain.

Ahmad Ghahreman, CEO and Co-Founder of Cyclic Materials, shared his enthusiasm: "Cyclic is excited to partner with Lime, a company demonstrating what true circularity looks like in action. 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."

Leading the Way in Sustainable Transportation

With a fleet of more than 270,000 EVs and hundreds of millions of rides taken globally, Lime continues to lead in sustainable urban transportation across North America and worldwide. We've already achieved a -59.5% reduction in CO2 emissions since our 2019 baseline as we progress toward our science-based net zero goal by 2030.

"Circularity is a core part of our sustainability mission," said Andrew Savage, VP of Sustainability and Founding Member at Lime. "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. 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."