Stardust Power Inc. Appoints Carlos Urquiaga as Senior Advisor

Rhea-AI Summary

Stardust Power (NASDAQ: SDST) has appointed Carlos Urquiaga as Senior Advisor, reporting to CEO Roshan Pujari. Urquiaga brings over 30 years of experience in metals, mining, energy, and infrastructure sectors, with expertise in capital raising and financial advisory services.

Throughout his career at BNP Paribas, Citi and Appian Capital, Urquiaga has executed over $40 billion in financing and advisory transactions, including notable projects like Teck's Quebrada Blanca Phase 2 and Freeport's Cerro Verde expansion.

In his new role, Urquiaga will focus on guiding Stardust Power through achieving Final Investment Decision (FID), supporting capital raising activities through debt and equity financing, and advancing strategic initiatives to scale lithium production for the growing battery-grade materials market.

Positive

• Appointment of seasoned financial expert with $40B+ transaction experience
• Strategic expertise in EV battery materials supply chain
• Strong track record in complex mining project financing
• Direct access to capital markets and debt financing networks

Negative

• None.

GREENWICH, Conn., April 08, 2025 (GLOBE NEWSWIRE) -- Stardust Power Inc. (NASDAQ: SDST) ("Stardust Power" or the "Company"), an American developer of battery-grade lithium products, is pleased to announce the appointment of Mr. Carlos Urquiaga as Senior Advisor, effective immediately. Mr. Urquiaga will report directly to the Founder and CEO, Roshan Pujari.

Mr. Urquiaga is a highly accomplished financier with over 30 years of experience in the metals and mining, energy, and infrastructure sectors, specializing in capital raising, structuring, and financial advisory services. His expertise spans complex financing transactions, including those in the electric vehicle battery materials supply chain. Throughout his career, he has successfully delivered more than $40 billion in financing and advisory transactions, playing a key role in some of the most significant deals in the industry.

Mr. Urquiaga’s distinguished career includes senior leadership roles at BNP Paribas, Citi and Appian Capital, where he was instrumental in executing high-value transactions, including financing for major projects such as Teck’s Quebrada Blanca Phase 2 project funding and Freeport’s Cerro Verde expansion. His work has earned numerous accolades, including "Deal of the Year" awards for his role in financing and strategic advisory efforts.

As Senior Advisor at Stardust Power, Mr. Urquiaga will focus on guiding the Company through its critical next stages, particularly leading efforts to achieve Final Investment Decision (FID) and supporting the Company’s capital raising activities, both through debt and equity financing. He will also assist in advancing the Company’s strategic initiatives to scale its lithium production and capitalize on the increasing demand for battery-grade materials.

"We are thrilled to welcome Carlos to Stardust Power," said Roshan Pujari, Founder and CEO of Stardust Power. "His expertise in structuring complex financing transactions and his deep understanding of the metals and mining sector, particularly in the EV battery supply chain, will be invaluable as we move forward. Carlos will play a crucial role in helping us in reaching FID, secure the necessary capital for growth, and position Stardust Power as a leader in the battery-grade lithium space. His experience in critical minerals and capital markets will be a tremendous asset as we continue to scale and execute our strategic objectives."

"The demand for battery-grade lithium is rapidly increasing, and Stardust Power is well-positioned to be a key player in this space. I look forward to working with Roshan and the wider team at Stardust Power to support the Company’s efforts in securing the capital and strategic partnerships necessary to drive its growth and deliver long-term value to shareholders," said Carlos Urquiaga.

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; 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/47f9eb4c-015e-4c10-bc65-e5d797175745

FAQ

What experience does Carlos Urquiaga bring to Stardust Power (SDST)?

Carlos Urquiaga brings 30+ years of experience in metals, mining, and energy sectors, having executed over $40 billion in financing transactions throughout his career at BNP Paribas, Citi, and Appian Capital.

What will be Carlos Urquiaga's main responsibilities at SDST?

As Senior Advisor, Urquiaga will focus on achieving Final Investment Decision (FID), supporting capital raising activities, and advancing strategic initiatives to scale lithium production.

How will SDST benefit from Urquiaga's appointment in the lithium market?

Urquiaga's expertise in complex financing transactions and deep understanding of the EV battery supply chain will help SDST secure necessary capital and strategic partnerships for growth in the battery-grade lithium space.

What notable projects has SDST's new advisor Carlos Urquiaga worked on?

Urquiaga has worked on major projects including Teck's Quebrada Blanca Phase 2 project funding and Freeport's Cerro Verde expansion, earning 'Deal of the Year' awards.