Stardust Power Acquires Site, Receives Key Permit And Receives Approval For Major Construction To Commence
Stardust Power (NASDAQ: SDST) has completed the acquisition of a 66-acre site at Southside Industrial Park in Muskogee, Oklahoma, for one of North America's largest lithium refineries. The company has secured the General Permit for Stormwater Discharges from Construction Activities and completed its Stormwater Pollution Prevention Plan, enabling construction to begin subject to project financing.
The site selection in Muskogee offers strategic advantages including access to inland waterways, road and rail networks, and a skilled workforce. The location includes a right of first refusal for an adjacent 40-acre parcel for future expansion. The City and County of Muskogee have established a $27 million Tax Increment Financing (TIF) district to support infrastructure improvements, including industrial roads, rail rehabilitation, and trestle bridge replacement.
Stardust Power (NASDAQ: SDST) ha completato l'acquisizione di un sito di 66 acri presso il Southside Industrial Park a Muskogee, Oklahoma, per una delle più grandi raffinerie di litio del Nord America. L'azienda ha ottenuto il Permesso Generale per le Scariche di Acqua Piovana dalle Attività di Costruzione e ha completato il suo Piano di Prevenzione dell'Inquinamento da Acqua Piovana, consentendo l'inizio dei lavori in base al finanziamento del progetto.
La selezione del sito a Muskogee offre vantaggi strategici, compresi l'accesso a vie navigabili interne, reti stradali e ferroviarie e una forza lavoro qualificata. La posizione include un diritto di prelazione su un lotto adiacente di 40 acri per futuri ampliamenti. La Città e la Contea di Muskogee hanno istituito un distretto di $27 milioni di Finanziamento per Incremento Fiscale (TIF) per supportare i miglioramenti infrastrutturali, comprese strade industriali, riabilitazione ferroviaria e sostituzione di ponti a travata.
Stardust Power (NASDAQ: SDST) ha completado la adquisición de un sitio de 66 acres en el Southside Industrial Park en Muskogee, Oklahoma, para una de las refinerías de litio más grandes de América del Norte. La compañía ha asegurado el Permiso General para Descargas de Agua de Lluvia de Actividades de Construcción y ha completado su Plan de Prevención de Contaminación por Agua de Lluvia, lo que permite que la construcción comience sujeto a la financiación del proyecto.
La selección del sitio en Muskogee ofrece ventajas estratégicas, incluyendo acceso a vías navegables interiores, redes de carreteras y ferrocarriles, y una mano de obra calificada. La ubicación incluye un derecho de tanteo sobre una parcela adyacente de 40 acres para una futura expansión. La ciudad y el condado de Muskogee han establecido un distrito de $27 millones de Financiamiento por Incremento Fiscal (TIF) para apoyar mejoras en la infraestructura, incluyendo caminos industriales, rehabilitación ferroviaria y reemplazo de puentes de viga.
Stardust Power (NASDAQ: SDST)는 오클라호마주 머스코기의 사우스사이드 산업 공원에 있는 66에이커 규모의 부지를 인수하여 북미에서 가장 큰 리튬 정제소 중 하나를 건설했습니다. 이 회사는 건설 활동을 위한 우수 배출을 위한 일반 허가를 확보하고, 우수 오염 방지 계획을 완료하여 프로젝트 자금 조달에 따라 건설을 시작할 수 있게 되었습니다.
머스코기 지역의 부지 선정은 내수 수로, 도로 및 철도 네트워크, 숙련된 인력에 대한 접근 등을 포함한 전략적 이점을 제공합니다. 이 위치에는 향후 확장을 위해 40에이커의 인접 부지에 대한 우선 매입권이 포함되어 있습니다. 머스코시 시와 카운티는 산업 도로, 철도 재활, 경량 교량 교체 등을 포함한 인프라 개선을 지원하기 위해 2700만 달러의 세금 증가 재정(TIF) 지역을 설립했습니다.
Stardust Power (NASDAQ: SDST) a achevé l'acquisition d'un site de 66 acres dans le Southside Industrial Park à Muskogee, Oklahoma, pour l'une des plus grandes raffineries de lithium d'Amérique du Nord. L'entreprise a obtenu le Permis Général pour les Décharges des Eaux de Pluie provenant des Activités de Construction et a complété son Plan de Prévention de la Pollution par les Eaux de Pluie, permettant le début de la construction sous réserve du financement du projet.
Le choix du site à Muskogee offre des avantages stratégiques, notamment un accès aux voies navigables intérieures, aux réseaux routiers et ferroviaires, et à une main-d'œuvre qualifiée. L'emplacement inclut un droit de préemption pour un terrain de 40 acres adjacent pour une future expansion. La ville et le comté de Muskogee ont établi un district de 27 millions de dollars de financement par augmentation fiscale (TIF) pour soutenir les améliorations des infrastructures, y compris les routes industrielles, la réhabilitation des chemins de fer et le remplacement des ponts à poutres.
Stardust Power (NASDAQ: SDST) hat den Erwerb eines 66 Hektar großen Standorts im Southside Industrial Park in Muskogee, Oklahoma, für eine der größten Lithiumraffinerien in Nordamerika abgeschlossen. Das Unternehmen hat die allgemeine Genehmigung für Regenwasserableitungen von Bauaktivitäten erhalten und seinen Plan zur Vermeidung von Regenwasserverunreinigungen abgeschlossen, was den Baubeginn unter dem Vorbehalt der Projektfinanzierung ermöglicht.
Die Standortauswahl in Muskogee bietet strategische Vorteile wie Zugang zu Binnengewässern, Straßen- und Schienennetzen sowie einer qualifizierten Arbeitskraft. Der Standort umfasst ein Vorkaufsrecht für ein angrenzendes 40 Hektar großes Grundstück für künftige Erweiterungen. Die Stadt und der Landkreis Muskogee haben einen 27 Millionen US-Dollar schweren Steuerincrement-Finanzierungs (TIF) Bezirk eingerichtet, um Infrastrukturverbesserungen zu unterstützen, einschließlich Industriegebieten, Gleisrehabilitierungen und dem Ersatz von Brücken.
- Secured 66-acre site acquisition for major lithium refinery construction
- Obtained key environmental permit enabling construction commencement
- Secured $27 million TIF district funding for infrastructure improvements
- Right of first refusal on adjacent 40-acre parcel for future expansion
- Construction start dependent on finalizing project financing
- Additional permits still pending submission
Insights
The acquisition of the 66-acre site and securing key permits represents a significant milestone in Stardust Power's strategic expansion into domestic lithium production. The
The project's advancement aligns with broader national initiatives to secure domestic battery material supply chains. With major automakers accelerating EV production, the timing of this facility positions Stardust Power to capture growing demand for US-sourced battery-grade lithium. The combination of strategic location, infrastructure support and expansion potential strengthens the company's competitive position in the emerging domestic lithium processing market.
The approval of the General Permit for Stormwater Discharges and completion of the SWPPP demonstrates strong environmental planning and regulatory compliance. These permits are critical prerequisites for construction commencement and reflect thorough environmental due diligence. The company's adoption of best-in-class stormwater management practices indicates a robust commitment to environmental stewardship.
The planned submission of remaining permits suggests a well-organized regulatory strategy. Oklahoma's leadership in sustainable energy provides a supportive regulatory environment for this type of facility. The environmental considerations appear to have been carefully integrated into site selection and development planning, which should help minimize potential construction delays and operational risks.
Caption: Governor of Oklahoma, J. Kevin Stitt, and Founder and CEO, Stardust Power, Roshan Pujari, met December 2, 2024, to discuss the upcoming construction of its lithium refinery in Muskogee, Oklahoma
GREENWICH, Conn., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Stardust Power Inc. (“the Company” or “Stardust Power”) (NASDAQ: SDST), an American developer of battery-grade lithium products, today announced the completion of the acquisition of its 66-acre site at the Southside Industrial Park in Muskogee, Oklahoma. This key acquisition marks another significant milestone as the Company prepares to commence construction on one of North America’s largest lithium refineries. With the General Permit for Stormwater Discharges from Construction Activities now in place, and subject to finalizing project financing, Stardust Power is now positioned to begin construction.
Stardust Power received this permit from the Oklahoma Department of Environmental Quality and has completed its Stormwater Pollution Prevention Plan (SWPPP), which incorporates best-in-class management practices to control stormwater discharges during construction and is designed to ensure compliance with environmental standards and minimize potential impacts on the surrounding area. This critical permit allows Stardust Power to commence construction at the site. In the coming weeks, Stardust Power plans to submit the remaining necessary permits, marking the final regulatory steps at this junction. This marks a significant milestone for the Company and its mission to onshore manufacturing of battery grade lithium for US energy independence.
In January 2024, Stardust Power selected Muskogee, Oklahoma for its lithium refinery, citing the state’s central location and excellent access to multi-modal logistics. The site benefits from proximity to the country’s largest inland waterway system, robust road and rail networks, and a skilled workforce rooted in the oil and gas sector. Oklahoma’s leadership in sustainable energy aligns with Stardust Power’s commitment to reducing its carbon footprint. The shovel-ready site near the Port of Muskogee offers key construction and operational advantages, with the potential to speed up timelines. After thorough due diligence, including environmental, technical, cultural, and logistical reviews, the site was confirmed as ideal. It offers a location with an adjacent 40-acre parcel of land which the Company has a right of first refusal for future expansion.
Roshan Pujari, Founder and CEO of Stardust Power, stated, "With the land purchase complete and key permitting secured, we are excited to enter the construction phase in Muskogee. This milestone brings us closer to our mission of becoming a leading supplier of American battery-grade lithium. We are deeply grateful for the ongoing support from Governor Stitt, the Department of Environmental Quality, the Oklahoma Department of Commerce, the Tulsa Chamber, and the City and Port of Muskogee. Together, we endeavor to create hundreds of high-quality manufacturing jobs and keep Oklahoma at the forefront of America's energy leadership. While the site’s infrastructure and logistics are outstanding, the true asset of Oklahoma is its people."
Earlier this year, the City and County of Muskogee established a
About Stardust Power Inc.
Stardust Power is a developer of battery-grade lithium products designed to bolster America’s energy leadership by building resilient supply chains. Stardust Power is developing a strategically central lithium refinery in Muskogee, Oklahoma with the anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium. The Company is committed to sustainability at each point in the process. Stardust Power trades on the Nasdaq under the ticker symbol “SDST.”
For more information, visit www.stardust-power.com
Stardust Power Contacts
For Investors:
Johanna Gonzalez
investor.relations@stardust-power.com
For Media:
Michael Thompson
media@stardust-power.com
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements.” Such forward-looking statements are often identified by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “forecasted,” “projected,” “potential,” “seem,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or otherwise indicate statements that are not of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements and factors that may cause actual results to differ materially from current expectations include, but are not limited to: the ability of Stardust Power to grow and manage growth profitably, maintain key relationships and retain its management and key employees; obtaining the necessary permits and governmental approvals to develop the site; the impact of the TIF on the site development and surrounding areas and infrastructure, and Stardust Power’s ability to benefit from such program; risks related to the uncertainty of the projected financial information with respect to Stardust Power; risks related to the price of Stardust Power’s securities, including volatility resulting from changes in the competitive and highly regulated industries in which Stardust Power plans to operate, variations in performance across competitors, changes in laws and regulations affecting Stardust Power’s business and changes in the combined capital structure; and risks related to the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities. The foregoing list of factors is not exhaustive.
Stockholders and prospective investors should carefully consider the foregoing factors, and the other risks and uncertainties described in documents filed by Stardust Power from time to time with the SEC.
Stockholders and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which only speak as of the date made, are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of Stardust Power. Stardust Power expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations of Stardust Power with respect thereto or any change in events, conditions or circumstances on which any statement is based.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/517788f6-c251-44e2-a037-b55a5adc0eab
FAQ
What is the size of Stardust Power's (SDST) new lithium refinery site in Oklahoma?
How much TIF funding has been allocated for SDST's Muskogee project?
What key permit has SDST received for its Oklahoma lithium refinery?
When did Stardust Power select Muskogee, Oklahoma for its lithium refinery?
What infrastructure improvements will the TIF funding support for SDST's project?
