Albemarle Corp. acquired a location in Charlotte, N.C., where it will invest at least $180 million to establish a facility designed for novel materials research, advanced process development and acceleration of next-generation lithium products to market.

The company anticipates that innovations from Albemarle Technology Park (ATP) will enhance lithium recovery, improve production methods and introduce new forms of lithium to enable breakthrough levels of battery performance. Albemarle, which anticipates creating at least 200 jobs at the site, said ATP is “part of our mine-to-market innovation strategy to invest in the U.S. EV battery supply chain and to be a leader in advanced lithium materials for next-generation energy storage.”