Albemarle Announces Science Park for Advanced Lithium Technology in North Carolina

Charlotte, North Carolina, December 13, 2022 /PRNewswire/ — Albemarle Corporation (NYSE: ALB), a global leader in specialty chemicals, announced today that it has acquired the Charlotte, North Carolinait will invest in at least $180 million Establish the Albemarle Technology Park (ATP), a world-class facility designed for new materials research, advanced process development and accelerating next-generation lithium products to market. The company expects innovations at the new site to increase lithium recovery, improve production methods and introduce new forms of lithium to achieve breakthrough levels of battery performance.

“Albemarle Technology Park is part of our mine-to-market innovation strategy to invest in the U.S. electric vehicle battery supply chain and become a leader in advanced lithium materials for next-generation energy storage,” said Kent Masters, CEO of Albemarle. “This facility will focus and accelerate our leadership in lithium technology to better drive the world’s transition to more sustainable energy.”

Albemarle was awarded nearly $13 million incentive package from North Carolina Develop advanced lithium materials research, process development and product innovation facilities Mecklenburg County, North Carolina.

Albemarle’s Work on next-generation products related to lithium batteries is really progressing North Carolina “Leading the lead in the emerging clean energy economy. Reducing carbon emissions is good for our environment and good for our economy,” said Governor Cooper.

The incentive package is supported as part of the Job Development Investment Grant (JDIG) Albemarle’s Invested in revamping former IBM and Flextronics factories.The company expects to create at least 200 jobs on site with an average salary of $94,000 Per year. In particular, the team intends to triple the number of PhDs. Professionals from Albemarle Technology Park.

charlotte Has been home to Albemarle for several years,” says charlotte mayor Vi Lyles. “This investment demonstrates their commitment to growing and innovating the company and our city, and we have a talented workforce ready to fill the jobs this expansion brings.”

Albemarle’s ATP’s vision spans from novel lithium materials and manufacturing processes to the commercialization of new products in close collaboration with strategic customers. By co-locating these key activities and collaborations, the company anticipates that ATP will become a lithium innovation hub, solidifying technology leadership in the southeastern United States, where the electric vehicle industry is rapidly expanding. The company expects that the enhanced process technology developed by ATP will unlock new lithium resources, improve sustainability by reducing energy and water use, and recover lithium at end-of-life through cost-effective recycling.

Albemarle The first occupancy of the new facility is expected in early 2025, with the ATP campus to be completed by the end of 2026.

about Albemarle
Albemarle Corporation (NYSE: ALB ) is a global specialty chemicals company with leadership positions in lithium, bromine and catalysts. We go above and beyond to deliver potential to companies in many of the world’s largest and most critical industries, such as energy, electronics and transportation. We actively seek a sustainable approach to managing our diverse global footprint of world-class resources. Combining our experienced and talented global team, our deep-rooted values, and our collaborative client relationships, we create value-added and performance-based solutions for a safer, more sustainable future.

We periodically post information to www.albemarle.com, including event announcements, news, financial results, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information about our company, its business and the markets it serves.

forward-looking statement

Some of the information provided in this press release, including but not limited to Albemarle’s Investments in ATP facilities, including the amount of such investments; initial occupancy and completion times for the facility and its campus; the number of jobs created at the facility and the average wages for those jobs; the types of operations and activities that will be conducted at the facility, and The results of any such operations or activities; including all information relating to non-historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the views expressed.possible factors Albemarle’s Actual results that differ materially from the outlook expressed or implied in any forward-looking statement include, but are not limited to: availability of company funds and resources to make planned investments in ATP facilities; delays in or unforeseen costs related to the construction of the facilities; economic and changes in business conditions; changes in the financial and operating performance of the company’s major customers and the industries and markets they serve; the timing of receipt of orders from customers; the gain or loss of important customers; fluctuations in lithium market pricing, which may affect the company’s revenue and Profitability, particularly due to its increased exposure to index-referenced and variable-price contracts for battery-grade lithium sales; changes in contract renegotiations; potential production shortages; competition from other manufacturers; changes in demand in its end-user markets; restrictions or prohibitions on the manufacture and sale of its products; availability of raw materials; increases in raw material and energy costs, and the ability to pass these increases on to customers; technological changes and developments, changes in its markets in general foreign currency fluctuations; changes in laws and government regulations affecting its operations or products; the occurrence of regulatory actions, proceedings, claims or litigation (including in connection with the U.S. Foreign Corrupt Practices Act and the Foreign Corrupt Practices Act); cybersecurity breaches, the occurrence of terrorist attacks, industrial accidents or natural disasters; the effects of climate change, including any regulatory changes to which it may be subject; hazards associated with chemical manufacturing; the inability to maintain current levels of insurance, including product or site liability coverage, or the denial of such political instability affecting the global economy, including the adverse effects of terrorism or hostilities; political instability affecting our manufacturing operations or joint ventures; changes in accounting standards; the inability to benefit from its global manufacturing cost reduction plans and ongoing results in continuous improvement and rationalization plans; changes in the jurisdictional mix of its benefits, changes in tax laws and rates or interpretations; changes in monetary policy, inflation or interest rates that may affect its ability to raise funds or increase its cost of funds, affecting its The performance of pension fund investments and increases in their pension payouts and funding obligations; volatility and uncertainty in debt and equity markets; technological or intellectual property infringement, including cybersecurity breaches and other innovation risks; possible future decisions; the future acquisitions and divestitures, including the ability to successfully execute, operate and integrate acquisitions and divestitures and incur additional debt; continued uncertainty about the duration and impact of the coronavirus (COVID-19) pandemic; performance or Albemarle’s partners in joint ventures and other projects; changes in credit ratings; and other factors detailed in reports from time to time Albemarle Filings with the U.S. Securities and Exchange Commission, including those described in “Risk Factors” Albemarle’s Most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release. Albemarle Except as otherwise required by securities and other applicable laws, we disclaim any obligation to revise any forward-looking statement should circumstances change.

SOURCE Albemarle Corporation

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