EUGENE, Ore.--(BUSINESS WIRE)--Arcimoto, Inc.® (NASDAQ: FUV), makers of affordable, practical, and joyful pure electric vehicles for everyday commuters and fleets, today launched a battery recycling program with Redivivus®, a lithium-ion battery recycling company solving the challenges of large scale e-waste recycling through innovations in safe logistics and battery disassembly, and cost-effective recovery of materials in cells and battery modules.
“Arcimoto is committed to leading the transportation industry in sustainability, and this partnership with Redivivus has meaningful potential benefits: increased safety for our team, reduced emissions and mining demand for highly extractive materials such as cobalt, and an overall higher purity of recovered materials,” said Mark Frohnmayer, Arcimoto Founder and CEO. “Conventional battery recycling methods can be dangerous and harmful to the environment, and we are proud to join with Redivivus to pioneer a new hydrometallurgical process that is better for the planet. It’s the only one we’ve got.”
Redivivus will provide a battery processing solution to Arcimoto manufacturing plants, service and sales centers, based on its Redi-Shred process, designed to safely dispose and neutralize battery waste in a sealed and scrubbed environment. The neutralized materials will then be transported to a recycling line designed by Redivivus, reducing hazmat logistics and overhead. From there, using the Redi-Cycle process, the materials will be converted at a high purity to secondary materials through a hybrid solution of hydrometallurgical and electrochemical recycling, reducing mining demand, minimizing thermal emissions, and increasing end-user savings. One of the final products is a Nickel and Cobalt metallic alloy, called Redivivus Nickel, that bypasses the challenging and costly process of separating the elements. Redi-Cycle aims to be more environmentally friendly and cost-effective when compared to other battery recycling technologies.
“The Redivivus partnership with Arcimoto solidifies the outstanding relationship between our founders and the battery industry. It's beautiful to not only design and build batteries that are industry leading, but also to provide an end-of-life solution,” said Erika Guerrero, Redivivus Founder and Officer. “Arcimoto brings rightsized, sustainable transportation with batteries made to survive the wild and aligns with our goals to reduce and reuse before recycling. We're appreciative and excited for the opportunity to prove our Redi-Shred and Redi-Cycle technologies at a larger scale."
Redivivus will be attending the FUV and Friends Summer Showcase at Portland International Raceway on July 26. To request tickets to attend, please email summershowcase@arcimoto.com.
For the latest company updates, follow Arcimoto on YouTube, Facebook, Instagram, Twitter, and LinkedIn. A replay of the Company’s latest quarterly earnings webinar can be viewed here. For more information, visit Arcimoto.com.
About Arcimoto, Inc.
Arcimoto (NASDAQ: FUV) develops and manufactures ultra-efficient and affordable electric vehicles to help the world shift to a sustainable transportation system. Now available to preorder customers on the West Coast, the Arcimoto FUV® is purpose-built for everyday driving, transforming ordinary trips into pure-electric joyrides. Available for preorder, the Deliverator® and Rapid Responder™ provide last-mile delivery and emergency response functionality, respectively, at a fraction of the cost and environmental impact of traditional gas-powered vehicles. Two additional concept prototypes built on the versatile Arcimoto platform are currently in development: the Cameo™, aimed at the film and influencer industry; and the Roadster, designed to be the ultimate on-road fun machine. Every Arcimoto vehicle is built at the Arcimoto Manufacturing Plant in Eugene, Oregon. For more information, please visit Arcimoto.com.
About Redivivus
Redivivus is the complete solution to lithium-ion battery recycling. Its proprietary technologies provide white-glove logistics, disassembly and material recovery service for end-of-life batteries. The ultimate success of the Redivivus mission is the safe transportation of battery material and cost-effective recycling that respects long term, multi-planetary life. Discover more at www.redivivus.tech and on Twitter @RedivivusTech.
Safe Harbor / Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict and include, without limitation, our expectations as to product deliveries, the establishment of our service and delivery network and our expected rate of production. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in documents which we file with the SEC. In addition, such statements could be affected by risks and uncertainties related to, among other things: our ability to manage the distribution channels for our products, including our ability to successfully implement our rental strategy, direct to consumer distribution strategy and any additional distribution strategies we may deem appropriate; our ability to design, manufacture and market vehicle models within projected timeframes given that a vehicle consists of several thousand unique items and we can only go as fast as the slowest item; our inexperience to date in manufacturing vehicles at the high volumes that we anticipate; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; the number of reservations and cancellations for our vehicles and our ability to deliver on those reservations; unforeseen or recurring operational problems at our facility, or a catastrophic loss of our manufacturing facility; our dependence on our suppliers; changes in consumer demand for, and acceptance of, our products: changes in the competitive environment, including adoption of technologies and products that compete with our products; the overall strength and stability of general economic conditions and of the automotive industry more specifically; changes in laws or regulations governing our business and operations; costs and risks associated with potential litigation; and other risks described from time to time in periodic and current reports that we file with the SEC. Any forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities laws, we do not undertake any obligation to update any forward-looking statements.
