Albemarle Corporation Selects Mecklenburg County for Advanced Lithium Technology Park
Company to invest $200 million in University City
Global specialty chemicals company Albemarle has selected Mecklenburg County for its advanced lithium technology and research and development center, creating 205 jobs near the college town.
“Albemarle is focused on leadership in lithium technology because it can create value for our customers and drive the world’s transition to more sustainable energy,” said Albemarle CEO Kent Masters. “We are proud to make this investment in our home city and to be a contributor to our state and local economy in this capacity.”
Albemarle will invest $200 million to develop a technology park that will focus on research and development of advanced materials, new process development and next-generation lithium products. Innovations at the new site will increase lithium recovery rates, improve production methods and introduce new forms of lithium, furthering the growth of the lithium-ion battery and electric vehicle industries.
“Albemarle’s work on next-generation products related to lithium batteries really advances North Carolina’s leadership in the emerging clean energy economy,” Governor Cooper said. “Reducing carbon emissions is good for our environment and good for us. economy.”
The announcement solidifies Mecklenburg County’s position as a leader in electric vehicle innovation and North Carolina’s position as an overall leader in electric vehicle manufacturing. The region’s regional assets, including lithium deposits, a strong manufacturing workforce and top-notch R&D talent, make us an attractive market for electric vehicle companies and suppliers. Over the past two years, global electric vehicle companies including Arrival, Toyota and VinFast have announced major investments in the state. I-85 through the Carolinas is becoming a destination for electric vehicles and clean energy innovations.
“We are excited to support the expansion of Albemarle Corporations’ advanced materials R&D facility in the College Station area of Mecklenburg County. This project is critical to the growing electric vehicle (EV) industry and to further solidifying our region as an emerging leader in electric vehicles and batteries.” Mecklenburg County Commissioner George Dunlap said, “We look forward to working with this global leader and pioneer.” Keep working together as we carry on their legacy here in Mecklenburg County.
Since moving its headquarters to Charlotte in 2015, Albemarle has been a strong community partner supporting education, diversity and inclusion initiatives in the region. The firm’s foundation works closely with Charlotte nonprofits, including Freedom School Partners, Young Black Leadership Alliance and YMCA Charlotte. A leader in the lithium industry, the company has a strong commitment to sustainability and executes global initiatives in clean energy, including at its lithium processing facility in Kings Hill.
“We are excited about Albemarle’s continued growth and investment in Mecklenburg County. Over the past year, business expansion activity in the county has increased and we are delighted that the company is doubling down on our investment in our community,” Sr Shahid Rana Say. Business Attraction Project Manager.
The project is a joint effort between Mecklenburg County, the City of Charlotte, the North Carolina Department of Commerce, the North Carolina Economic Development Partnership, the North Carolina Community College System, University Center Partners, and the Charlotte Area Business Alliance effort.
Over the past twelve months, Mecklenburg County and the City of Charlotte have collaborated on economic development projects, including the relocation and expansion of ACC, Bosch Rexroth, Solve Industrial Motion Group, and more. With today’s announcement of Albemarle Corp., the city and county have helped bring in more than $287 million in capital investment, as well as 350 new jobs and 435 preserved jobs.
To read North Carolina’s release, click here.