Albemarle Selected by U.S. Department of Energy for Lithium Research Projects

Rhea-AI Summary

Albemarle Corporation (NYSE: ALB) has been chosen by the U.S. Department of Energy (DOE) for two significant lithium research projects over the next three years, focusing on enhancing lithium production and battery performance. The first project, with Argonne National Laboratory, aims for U.S. lithium independence by streamlining lithium production processes. The second project, in collaboration with Pacific Northwest National Laboratory, targets the commercialization of high-energy cathodes for electric vehicles. These initiatives underline Albemarle's commitment to advancing lithium technology and improving battery life.

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• Selected for two lithium research projects by the U.S. Department of Energy, enhancing future production capabilities.
• Collaboration with leading laboratories could lead to innovative production methods and improved battery technologies.

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CHARLOTTE, N.C., Sept. 2, 2020 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today the company has been selected by the U.S. Department of Energy (DOE) as a critical partner for two lithium research projects over three years through a Battery Manufacturing Lab Call. Albemarle will work in conjunction with two DOE labs on the company's approved projects.

The first project, in collaboration with Argonne National Laboratory, is "Advanced Brine Processing to Enable U.S. Lithium Independence." This research enables the development of a novel technology which provides a new production route eliminating steps in the current state-of-the-art process by going directly from lithium chloride to lithium hydroxide.

The second project, which will be done in partnership with Pacific Northwest National Laboratory, is "Scaling Up of High-Performance Single Crystalline Ni-rich Cathode Materials with Advanced Lithium Salts." This project will accelerate the commercialization of high-energy cathodes for extended battery life in the electric vehicle (EV) application.

"We are honored to have the DOE select these two important research efforts in partnership with Argonne National Laboratory and Pacific Northwest National Laboratory," said Dr. Glen Merfeld, Vice President and Chief Technology Officer, Lithium. "Successful execution of the first project will allow for more efficient utilization of the lithium brine resource in the Clayton Valley area of Nevada and a new pathway to a critical lithium material. The technology could also help make U.S. geothermal and oilfield brines more economical, including our brine reserves in Magnolia, Arkansas. Through the second project, we will learn how tailored lithium salts can further improve cathode performance, leading to more energy dense and longer life lithium ion batteries."

About Albemarle
Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, N.C., is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We think beyond business-as-usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.

We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.

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SOURCE Albemarle Corporation

FAQ

What are the lithium research projects announced by Albemarle Corporation on September 2, 2020?

Albemarle was selected for two projects: one focused on advanced brine processing and the other on scaling high-performance cathode materials.

How will the lithium research projects impact Albemarle's stock performance?

The projects could enhance Albemarle's production capabilities and market position in the lithium sector, potentially benefiting its stock performance.

What labs is Albemarle working with on the lithium research projects?

Albemarle is collaborating with Argonne National Laboratory and Pacific Northwest National Laboratory.

What is the significance of Albemarle's lithium research projects for electric vehicles?

The projects aim to improve battery life and performance, which are crucial for the electric vehicle industry.

What is the potential impact of the lithium projects on U.S. lithium independence?

The projects are designed to streamline lithium production processes, contributing to U.S. independence in lithium sourcing.