CHARLOTTE, N.C., Dec. 13, 2022 /PRNewswire/ — Albemarle Corporation (NYSE: ALB), a frontrunner within the international specialty chemical compounds business, right now introduced it has acquired a location in Charlotte, North Carolina, the place it is going to make investments at the least $180 million to determine the Albemarle Technology Park (ATP), a world-class facility designed for novel supplies analysis, superior course of growth, and acceleration of next-generation lithium merchandise to market. The firm anticipates that improvements from the brand new website will improve lithium restoration, enhance manufacturing strategies, and introduce new types of lithium to allow breakthrough ranges of battery efficiency.

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

Albemarle was awarded an almost $13 million incentive bundle from the State of North Carolina to develop the superior lithium supplies analysis, course of growth, and product innovation facility in Mecklenburg County, North Carolina.

“Albemarle’s work on the next generation of products related to lithium batteries really advances North Carolina’s leadership in the emerging clean energy economy,” stated Governor Cooper.  “Reducing carbon emissions is good for our environment and great for our economy too.”

The incentive bundle is a part of a Job Development Investment Grant (JDIG) supporting a portion of Albemarle’s funding to remodel the previous IBM and Flextronics facility. The firm anticipates creating at the least 200 jobs on the website, with a median wage of $94,000 per yr.  In explicit, the crew intends to triple the variety of Ph.D. professionals within the Albemarle Technology Park.

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“Charlotte has been home to Albemarle Corporation for several years,” stated Charlotte Mayor Vi Lyles. “This investment signifies their commitment to the growth and innovation of the company as well as our city, and we have a talented workforce that can fill the jobs this expansion will bring.”

Albemarle’s imaginative and prescient for the ATP spans from novel lithium supplies and manufacturing processes to new product commercialization in shut partnership with strategic clients. By co-locating these crucial actions and collaborations, the corporate expects ATP will develop into a lithium innovation hub that anchors know-how management within the Southeast U.S., the place the EV business is quickly increasing. The firm anticipates that enhanced course of applied sciences developed on the ATP will unlock new lithium assets, improve sustainability by lowering power and water use, and allow lithium restoration at end-of-life via cost-effective recycling.

Albemarle expects preliminary occupancy of the brand new facility by early 2025 and completion of the ATP campus by late 2026.

About Albemarle
Albemarle Corporation (NYSE: ALB) is a world specialty chemical compounds firm with main positions in lithium, bromine, and catalysts. We assume past enterprise as regular to energy the potential of firms in lots of the world’s largest and most important industries, similar to power, electronics, and transportation. We actively pursue a sustainable strategy to managing our various international footprint of world-class assets. In conjunction with our extremely skilled and gifted international groups, our deep-seated values, and our collaborative buyer relationships, we create value-added and performance-based options that allow a safer and extra sustainable future.

We commonly publish info to www.albemarle.com, together with notification of occasions, information, monetary efficiency, investor shows and webcasts, non-GAAP reconciliations, SEC filings and different info concerning our firm, its companies and the markets it serves.

 Forward-Looking Statements

Some of the knowledge introduced on this press launch, together with, with out limitation, info associated to Albemarle’s funding within the ATP facility, together with the quantity of such funding; the timing of preliminary occupancy and completion of the ability and its campus; the variety of jobs created on the facility and common salaries of such positions; the kind of operations and actions to be carried out on the facility and the outcomes of any such operations or actions; and together with all info referring to issues that aren’t historic details might represent forward-looking statements throughout the which means of the Private Securities Litigation Reform Act of 1995. Actual outcomes might differ materially from the views expressed. Factors that would trigger Albemarle’s precise outcomes to vary materially from the outlook expressed or implied in any forward-looking assertion embody, with out limitation: the supply of firm funds and assets to make deliberate investments within the ATP facility; delays within the development of the ability or surprising prices relating thereto; adjustments in financial and enterprise situations; adjustments in monetary and working efficiency of the corporate’s main clients and industries and markets served by it; the timing of orders acquired from clients; the acquire or lack of vital clients; fluctuations in lithium market pricing, which might affect the corporate’s revenues and profitability notably as a result of its elevated publicity to index-referenced and variable-priced contracts for battery grade lithium gross sales; adjustments with respect to contract renegotiations; potential manufacturing quantity shortfalls; competitors from different producers; adjustments within the demand for its merchandise or the end-user markets by which its merchandise are offered; limitations or prohibitions on the manufacture and sale of its merchandise; availability of uncooked supplies; will increase in the price of uncooked supplies and power, and its capacity to cross via such will increase to its clients; technological change and growth, adjustments in its markets normally; fluctuations in foreign currency; adjustments in legal guidelines and authorities regulation impacting its operations or its merchandise; the incidence of regulatory actions, proceedings, claims or litigation (together with with respect to the U.S. Foreign Corrupt Practices Act and overseas anti-corruption legal guidelines); the incidence of cyber-security breaches, terrorist assaults, industrial accidents or pure disasters; the impact of local weather change, together with any regulatory adjustments to which it is perhaps topic; hazards related to chemical compounds manufacturing; the lack to take care of present ranges of insurance coverage, together with product or premises legal responsibility insurance coverage, or the denial of such protection; political unrest affecting the worldwide economic system, together with antagonistic results from terrorism or hostilities; political instability affecting our manufacturing operations or joint ventures; adjustments in accounting requirements; the lack to attain outcomes from its international manufacturing value discount initiatives in addition to its ongoing steady enchancment and rationalization packages; adjustments within the jurisdictional mixture of its earnings and adjustments in tax legal guidelines and charges or interpretation; adjustments in financial insurance policies, inflation or rates of interest that will affect its capacity to boost capital or improve its value of funds, affect the efficiency of its pension fund investments and improve its pension expense and funding obligations; volatility and uncertainties within the debt and fairness markets; know-how or mental property infringement, together with cyber-security breaches, and different innovation dangers; choices it might make sooner or later; future acquisition and divestiture transactions, together with the power to efficiently execute, function and combine acquisitions and divestitures and incurring further indebtedness; persevering with uncertainties as to the length and affect of the coronavirus (COVID-19) pandemic; efficiency of Albemarle’s companions in joint ventures and different initiatives; adjustments in credit score scores; and the opposite elements detailed on occasion within the experiences Albemarle information with the SEC, together with these described underneath “Risk Factors” in Albemarle’s most up-to-date Annual Report on Form 10-Okay and any subsequently filed Quarterly Reports on Form 10-Q. These forward-looking statements converse solely as of the date of this press launch. Albemarle assumes no obligation to offer any revisions to any forward-looking statements ought to circumstances change, besides as in any other case required by securities and different relevant legal guidelines.

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SOURCE Albemarle Corporation