Albemarle Awarded $90 Million Grant for Lithium Production

Boosting U.S. Supply to Meet Growing Demand

Critical Materials Award from the Department of Defense

Albemarle Corporation, the world's largest lithium producer, has received a $90 million award from the U.S. Department of Defense (DoD). This grant will support Albemarle's efforts to increase its lithium production and processing capabilities in the United States. The funding is part of the DoD's Critical Materials Institute, which aims to secure domestic supply chains for materials essential to national security.

The award will specifically fund the development of Albemarle's new lithium hydroxide processing facility in Kemerton, Mississippi. This facility, expected to be operational by 2026, will double Albemarle's lithium hydroxide capacity and help meet the growing demand for this critical battery material. Lithium hydroxide is used in the production of lithium-ion batteries, which power electric vehicles and other portable devices.

The DoD grant is a significant step towards reducing U.S. reliance on foreign sources of lithium. Currently, China dominates the global lithium market, with over 80% of the world's lithium production capacity. By investing in domestic lithium production, the U.S. can strengthen its supply chain and support the growth of its clean energy industries.