Albemarle plans lithium park

Albemarle has acquired a location in Charlotte, North Carolina, where it will invest at least $180 million to establish the Albemarle Technology Park (ATP), aided by a $13 million incentive package from the state of North Carolina. The company expects to move in by early 2025 and complete of the campus by late 2026.

The ATP is planned to be “a world-class facility designed for novel materials research, advanced process development and acceleration of next-generation lithium products to market”, co-located in close proximity to many customers in the electric vehicle industry. At least 200 jobs should be created.

In the same field, Albemarle has recently acquired Guangxi Tianyuan New Energy Materials in China’s Guangxi province for approximately $200 million, via its UK subsidiary. This includes a lithium conversion plant with a designed conversion capacity of up to 25,000 tonnes/year that can produce battery-grade lithium carbonate and lithium hydroxide.

Albemarle has also recently announced planned investments of up to $540 million to expand and modernise two bromine facilities in Magnolia, Arkansas, where it currently has more than 400 employees and 200 contractors. These investments have already begun and will continue through 2027.

The two sites make brominated products for use in flame retardants and speciality products for other industries, including chemical synthesis, oil and gas well drilling and completion fluids, mercury control, paper and water purification, beef and poultry processing, and green energy. The projects are expected to add about 15% to the total employment levels, as well as supporting 250 jobs during construction.