Li-Cycle, Helbiz Form Global Partnership For Lithium-Ion Battery Recycling

July 14, 2021

Original article published in Benzinga

A battery recovery company and global leader in micro-mobility are teaming up to launch a partnership bringing two companies going public together in a global partnership.

What Happened: Li-Cycle Corp and Helbiz are teaming up on a partnership to create a safe and sustainable recycling solution for end-of-life lithium-ion batteries used by e-scooters and e-bikes.

Li-Cycle will use its spoke & hub technologies to recover the end-of-life batteries from Helbiz and return the materials back into the supply chain.

“We believe Li-Cycle and Helbiz are ideal partners as we are two innovative companies working toward the same vision for a sustainable electric mobility sector,” Li-Cycle Chief Commercial Officer Kunal Phalper said.

Li-Cycle plans on recycling 500 batteries from Helbiz in the coming months with volume increasing into 2022 as the company supports Helbiz worldwide.

Why It’s Important: Micro-mobility use is increasing worldwide with an expected market size of $150 billion by 2025. Helbiz has a mission to help create greener cities with less congestion while also providing fleets of e-scooters and e-bikes as an affordable transportation method.

The partnership could help both companies on their goals of providing sustainable practices to customers.

Helbiz has a net-zero emission target by 2022. Li-Cycle said the partnership will help them close the loop on the battery life cycle.

Li-Cycle is going public via SPAC merger with Peridot Acquisition Corp PDAC 0.48%. The company has a mission to create a secondary supply of battery materials through its end-of-life solutions.

Helbiz is a global micro-mobility leader with operations in over 30 cities worldwide. The company is going public via SPAC merger with GreenVision Acquisition Corp GRNV 0.04%.