Stardust Power Engages MUFG as Lead Financial Advisor for Its Battery-Grade Lithium Refinery in Oklahoma
Stardust Power (NASDAQ: SDST) has engaged MUFG Bank as lead financial advisor for developing one of the largest battery-grade lithium refining facilities in the United States. The project, located in Muskogee, Oklahoma, will be developed in two phases. Phase one aims to establish a capacity of 25,000 metric tons per annum of battery-grade lithium carbonate. Phase two is expected to double production to 50,000 metric tons annually, with a total facility investment of $1.2 billion. MUFG will support fundraising and advisory services for the first phase development, leveraging its extensive experience in natural resources and global banking.
Stardust Power (NASDAQ: SDST) ha incaricato MUFG Bank come principale consulente finanziario per lo sviluppo di una delle più grandi strutture di raffinazione di litio di grado batteria negli Stati Uniti. Il progetto, situato a Muskogee, Oklahoma, sarà sviluppato in due fasi. La fase uno mira a stabilire una capacità di 25.000 tonnellate metriche all'anno di carbonato di litio di grado batteria. La fase due dovrebbe raddoppiare la produzione a 50.000 tonnellate metriche annualmente, con un investimento complessivo nella struttura di $1,2 miliardi. MUFG fornirà supporto per la raccolta fondi e servizi di consulenza per lo sviluppo della prima fase, sfruttando la sua vasta esperienza nelle risorse naturali e nella banca globale.
Stardust Power (NASDAQ: SDST) ha contratado a MUFG Bank como asesor financiero principal para desarrollar una de las instalaciones de refinación de litio de grado para baterías más grandes de Estados Unidos. El proyecto, ubicado en Muskogee, Oklahoma, se desarrollará en dos fases. La primera fase tiene como objetivo establecer una capacidad de 25,000 toneladas métricas anuales de carbonato de litio de grado para baterías. Se espera que la segunda fase duplique la producción a 50,000 toneladas métricas anualmente, con una inversión total en la instalación de $1.2 mil millones. MUFG apoyará la recaudación de fondos y los servicios de asesoría para el desarrollo de la primera fase, aprovechando su amplia experiencia en recursos naturales y banca global.
Stardust Power (NASDAQ: SDST)는 미국에서 가장 큰 배터리급 리튬 정제 시설 중 하나를 개발하기 위해 MUFG 은행을 주요 재정 고문으로 참여시켰습니다. 이 프로젝트는 오클라호마주 머스코기에서 진행되며, 두 단계로 개발될 예정입니다. 첫 번째 단계는 배터리급 탄산리튬의 연간 25,000미터톤의 용량을 설정하는 것을 목표로 하고 있습니다. 두 번째 단계에서는 생산량이 연간 50,000미터톤으로 두 배로 증가할 것으로 예상되며, 총 시설 투자액은 $1.2억 달러입니다. MUFG는 화석 자원과 글로벌 금융에 대한 폭넓은 경험을 활용하여 첫 번째 단계 개발을 위한 자금 조달 및 자문 서비스를 지원할 것입니다.
Stardust Power (NASDAQ: SDST) a retenu MUFG Bank comme conseiller financier principal pour le développement de l'une des plus grandes installations de raffinage de lithium de qualité batterie aux États-Unis. Le projet, situé à Muskogee, Oklahoma, sera développé en deux phases. La première phase vise à établir une capacité de 25 000 tonnes métriques par an de carbonate de lithium de qualité batterie. La deuxième phase devrait doubler la production à 50 000 tonnes métriques annuellement, avec un investissement total de l'installation de 1,2 milliard de dollars. MUFG soutiendra la collecte de fonds et les services de conseil pour le développement de la première phase, en s'appuyant sur sa vaste expérience dans les ressources naturelles et la banque mondiale.
Stardust Power (NASDAQ: SDST) hat MUFG Bank als Hauptfinanzberater für die Entwicklung einer der größten Raffinerien für Lithium in Batteriequalität in den Vereinigten Staaten engagiert. Das Projekt, das in Muskogee, Oklahoma, angesiedelt ist, wird in zwei Phasen entwickelt. Die erste Phase zielt darauf ab, eine Kapazität von 25.000 metrischen Tonnen pro Jahr für Lithiumcarbonat in Batteriequalität zu etablieren. Die zweite Phase soll die Produktion auf 50.000 metrische Tonnen jährlich verdoppeln, mit einer Gesamtinvestition in die Anlage von 1,2 Milliarden US-Dollar. MUFG wird den Fundraising- und Beratungsdienst für die Entwicklung der ersten Phase unterstützen und nutzt dabei seine umfangreiche Erfahrung im Bereich natürliche Ressourcen und globales Banking.
- Planned production capacity of 25,000 metric tons annually in phase one
- Potential to double capacity to 50,000 metric tons in phase two
- Strategic partnership with major global bank MUFG for project financing
- Positioning as one of the largest U.S. battery-grade lithium refineries
- Significant capital requirement of $1.2 billion for total facility investment
- Project success dependent on securing substantial financing
Insights
The engagement of MUFG, one of the world's largest banks, as lead financial advisor marks a significant milestone for Stardust Power's ambitious
The strategic importance of securing MUFG's expertise cannot be understated, as funding large-scale critical mineral projects remains challenging in the current market. Their extensive experience in natural resources and deep investor relationships significantly enhance the probability of successful project financing. This partnership demonstrates strong institutional confidence in Stardust's business model and execution capability.
This development aligns perfectly with the growing demand for domestic lithium processing capabilities and the U.S. government's push for supply chain independence. The Muskogee facility's planned capacity would represent a substantial portion of domestic lithium refining capability, potentially reducing reliance on foreign suppliers.
The timing is strategic, as forecasts indicate a significant supply-demand gap in battery-grade lithium by 2030. With major automakers accelerating EV production and battery manufacturers expanding U.S. operations, Stardust Power is positioning itself as a important link in the domestic EV supply chain. The project's scale and MUFG's involvement suggest strong market fundamentals supporting the investment thesis.
GREENWICH, Conn., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Stardust Power Inc. (NASDAQ: SDST) (“Stardust Power” or the “Company”), an American developer of battery-grade lithium products, announced that it has engaged MUFG Bank, Ltd. (“MUFG”) as lead financial advisor in relation to the Company’s development of one of the largest battery-grade lithium refining facilities in the United States.
MUFG has been engaged to play a crucial role in supporting fundraising and advisory services in connection with the development of the first phase of Stardust Power’s Muskogee, Oklahoma project. The Company expects that the initial facility build-out will focus on establishing a phase one capacity of 25,000 metric tons per annum of battery-grade lithium carbonate. The completion of the first phase of the project will establish Stardust Power as one of the largest battery-grade lithium refineries in the United States. Development of a second phase is expected to double total annual production up to 50,000 metric tons per annum with an estimated total facility investment of
Given its status as one of the largest banks in the world, along with its extensive experience in the natural resources sector, MUFG is well-positioned to advise Stardust Power with respect to financing for the first phase of the project. The advisory team in New York for MUFG will be led by Managing Directors Daniel Seltzer and Christopher Buckingham. Mr. Seltzer notes, “We are proud to work with Roshan and the Stardust Power team to develop this critical piece of American infrastructure.
Stardust Power’s Chief Executive Officer and Founder, Roshan Pujari, commented: “After an extensive review process, we are excited to engage MUFG, who has developed an exceptional reputation in critical materials, has deep investor relationships with extensive knowledge of lithium supply chains. As our exclusive financial advisor, the bank will play a key role in advising and supporting Stardust Power as our facility achieves its first phase of lithium carbonate production, we look forward to working with Dan, Chris and the rest of the MUFG team.”
“Globally, we are seeing great partnerships form based on a shared determination to build resilient supply chains. The collaboration between MUFG and Stardust Power is a testament to that vision,” stated Adam Johnson, Chief Commercial Officer of Stardust Power. He adds, “Stardust Power is focused and dedicated in our effort to lead the onshoring of scaled battery-grade lithium production that is essential to the energy transition.”
About Stardust Power Inc.
Stardust Power is a developer of battery-grade lithium products designed to supply the electric vehicle (EV) industry and 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
About MUFG
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. The Group has about 120,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.
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 realize the anticipated benefits of the engagement with MUFG, Stardust Power’s plans regarding and ability to execute on any potential future financings or other transactions, the ability of Stardust Power to grow and manage growth profitably, maintain key relationships and retain its management and key employees; 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.
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