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.