Arcimoto Adds 6% Following Deal With Redivivus

(RTTNews) - Shares of electric vehicle maker Arcimoto, Inc. (FUV) are up more than 6% Friday morning at $16.47.

Thursday the company launched a battery recycling program with Redivivus, a lithium-ion battery recycling company.

Redivivus has agreed to provide a battery processing solution to Arcimoto, which is designed to safely dispose and neutralize battery waste in a sealed and scrubbed environment.

"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," said Mark Frohnmayer, Arcimoto Founder and CEO.

FUV has been trading in the range of$4.68- $36.80 in the last one year.