By Dean Seal


Albemarle Corp. has been awarded a nearly $150 million grant from the U.S. Energy Department to build a lithium-concentrator facility in North Carolina.

The specialty chemicals maker said Wednesday that the grant is part of a series of projects funded by the White House's Bipartisan Infrastructure Law that aims to expand domestic manufacturing of electric vehicle batteries.

The new commercial-scale lithium facility would be constructed at Albemarle's location in Kings Mountain, a small city located about 30 miles west of the company's headquarters in Charlotte, N.C.

The facility is expected to create hundreds of construction and full-time jobs while supplying up to 350,000 metric tons of spodumene concentrate each year to an Albemarle lithium-conversion facility.

"Expanding our U.S. footprint also increases the speed of lithium processing and reduces greenhouse gas emissions from long-distance transportation of raw minerals," Chief Executive Kent Masters said.

Shares were up 1.4%, to $255.17, around noon on Wednesday.


Write to Dean Seal at


(END) Dow Jones Newswires

October 19, 2022 12:24 ET (16:24 GMT)

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