Albemarle: Federal Grants, “Green” Agenda, Useless EVs

(lb) >>21717058 Albemarle Global

Albemarle (ALB.N), opens new tab is set to receive $67 million for a project in North Carolina to produce commercial quantities of anode material for next-generation lithium-ion batteries

Sept. 20, 2024

https://www.reuters.com/business/energy/us-award-3-billion-25-projects-battery-manufacturing-sector-2024-09-20/

Albemarle has come under pressure as global lithium prices have collapsed more than 40% since last year and 81% from 2022 highs

Albemarle CEO Kent Masters

Lithium prices need to be at a minimum of $20 per kilogram to justify investments, Masters said. The average price in 2023 was $15 per kilogram.

https://www.msn.com/en-xl/money/other/lithium-giant-albemarle-s-plans-to-reopen-a-rich-mine-in-north-carolina-will-take-years-to-complete/ar-AA1o5Vnb

The $90 million agreement, entered into under Defense Production Act (DPA) Title III authorities and utilizing funds appropriated by the Inflation Reduction Act, will help support Albemarle's planned re-opening of their Kings Mountain, N.C. lithium mine to increase domestic production of lithium for the nation's battery supply chain. Albemarle estimates that Kings Mountain will be operational between 2025 and 2030.

Sept. 12, 2023

https://www.defense.gov/News/Releases/Release/Article/3522657/dod-enters-agreement-to-expand-domestic-lithium-mining-for-us-battery-supply-ch/

CHARLOTTE, N.C., Oct. 19, 2022 /PRNewswire/ – Albemarle Corporation (NYSE: ALB), a global leader in the specialty chemicals industry, announced it has been awarded a nearly $150 million grant from the U.S. Department of Energy (DOE) as part of the first set of projects funded by the President's Bipartisan Infrastructure Law to expand domestic manufacturing of batteries for electric vehicles (EVs) and the electrical grid and for materials and components currently imported from other countries. The grant funding is intended to support a portion of the anticipated cost to construct a new, commercial-scale U.S.-based lithium concentrator facility at Albemarle's Kings Mountain, North Carolina, location.

Oct. 19, 2022

https://investors.albemarle.com/news-and-events/news/news-details/2022/Albemarle-Secures-DOE-Grant-for-U.S.-Based-Lithium-Facility-to-Support-Domestic-EV-Supply-Chain/default.aspx

Why Albemarle Stock Has Risen 14.2% So Far in 2021

the underlying long-term story over lithium demand for EV battery production, and Albemarle's opportunity to take advantage of it, remains the key mover of the stock

https://www.fool.com/investing/2021/07/13/why-albemarle-stock-has-risen-142-so-far-in-2021/