Albemarle and Caterpillar have joined forces to collaborate on sustainable mining technologies and operations.
The agreement between the companies includes a collaboration on the deployment of Cat battery-electric trucks and site energy transfer solutions, as well as a lithium offtake framework agreement.
The collaboration aims to support Albemarle’s efforts to establish Kings Mountain in North Carolina as the first ever zero-emissions lithium mine site in North America.
Under the agreement, Caterpillar will use Albemarle lithium for its battery production, as well as on the research and development of battery cell technology and recycling techniques.
“At Albemarle, we are committed to building a more resilient world. Our partners are critical to achieving that impact and this collaboration with Caterpillar exhibits how we ‘walk the talk’ to pioneer what’s next,” Albemarle’s energy storage president Eric Norris said.
“It’s a win-win-win scenario, in which we are both customers and suppliers of each other and the innovation we pursue together benefits the world.”
Caterpillar senior vice president of electrification and energy solutions Rod Shurman said the collaboration has the potential to lead to a greener technology rollout across the industry.
“Caterpillar is developing lithium-ion batteries and battery-electric products today for our customers around the world who, like Albemarle, are driving toward net zero carbon emissions goals,” he said.
“The agreements for lithium offtake and potential collaboration on research and development signed today will help to advance this work and further build out a secure, resilient and sustainable value chain for electrified equipment across the Caterpillar portfolio, while also supporting Albemarle’s journey to more sustainable operations.”
The announcement comes on the heels of Albemarle’s recent award of $90 million from the US Department of Defence, to help support the expansion of domestic mining and the production of lithium for the nation’s battery supply chain.
Albemarle is currently in the midst of a takeover bid on Liontown Resources, rivalled by Gina Rinehart’s Hancock resources recently making a grab for shares.