Albemarle Corporation, a global developer and manufacturer of specialty chemicals for energy and mobility, received approval for a $90 million grant from the Department of Defense. The grant will help support efforts to expand domestic mining and lithium production to strengthen the nation’s battery supply chain.
“Lithium is an essential ingredient in our sustainable energy future. Demand is expected to increase significantly, and it is imperative to secure our nation’s supply of this critical resource,” said Eric Norris, President of Energy Storage at Albemarle.
Albemarle will use the funds to purchase a fleet of mining equipment to support the company’s efforts to reopen its lithium mine in Kings Mountain, North Carolina, which contains one of the only known hard rock lithium deposits in the U.S. Predicted to be operational in late 2026, the site is expected to support the manufacturing of 1.2 million electric vehicles annually.
Funding for the grant will be provided by the Office of the Assistant Secretary of Defense for Industrial Base Policy and will utilize Defense Production Act authorities.