Specialty chemicals manufacturer Albemarle has acquired a location in Charlotte, North Carolina, where it plans to invest at least $180 million to establish the Albemarle Technology Park (ATP).

The facility will be designed for novel materials research, advanced process development and acceleration of next-generation lithium products to market. The company expects that innovations at the proposed site will enhance lithium recovery, improve production methods and introduce new forms of lithium for advances in battery performance.

Plans also include new product commercialization in partnership with strategic customers and technologies to unlock new lithium resources, reduce energy and water use, and enable lithium recovery through cost-effective recycling. Albemarle anticipates initial occupancy of the ATP by early 2025 and completion by late 2026.

Source: Albemarle