Albemarle, Caterpillar collaborate on batteries, zero-emissions lithium

Albemarle Corp. (ALB) said Wednesday it was collaborating on battery technology and sustainable lithium-mining practices with heavy-equipment maker Caterpillar Inc. (CAT) The lithium producer said the agreement calls for the use of Cat battery-electric trucks, and other efforts to establish Kings Mountain, N.C., as the first-ever zero-emissions lithium mine in North America. The agreement also calls for Albemarle's North American-produced lithium to be "available for use in Caterpillar battery production," while the companies will collaborate on research and development of battery-cell technology and recycling techniques. Shares of Albemarle were last down 0.3%, while Caterpillar shares were up 0.3%.

-Wallace Witkowski

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09-27-23 1432ET

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