Stardust Power Selects Primero USA to complete Definitive Engineering Study
Stardust Power (NASDAQ: SDST) has selected Primero USA to complete a front-end loaded level 3 (FEL-3) engineering design and cost study for its lithium refinery in Muskogee, Oklahoma. This definitive engineering study will provide detailed technical specifications and comprehensive cost projections for the refinery, which is expected to produce battery-grade lithium products.
The study, set to conclude by early 2025, will result in a complete 3D engineering model and estimated total costs for construction and machinery. Stardust Power plans to use this information to provide a cost basis for the project and secure financing options. The company's unique strategy involves optimizing the large central refinery for multiple sources of brine input, aiming to build resilient American supply chains.
Stardust Power (NASDAQ: SDST) ha selezionato Primero USA per completare uno studio di progettazione e costo di ingegneria di livello 3 (FEL-3) per la sua raffineria di litio a Muskogee, Oklahoma. Questo studio ingegneristico definitivo fornirà specifiche tecniche dettagliate e proiezioni di costo complete per la raffineria, che si prevede produrrà prodotti di litio di grado per batterie.
Lo studio, che si concluderà entro all'inizio del 2025, porterà alla creazione di un modello ingegneristico 3D completo e ai costi totali stimati per la costruzione e la macchinari. Stardust Power prevede di utilizzare queste informazioni per fornire una base di costo per il progetto e garantire opzioni di finanziamento. La strategia unica dell'azienda prevede di ottimizzare la grande raffineria centrale per molteplici fonti di input di salamoia, puntando a costruire catene di approvvigionamento americane resilienti.
Stardust Power (NASDAQ: SDST) ha seleccionado a Primero USA para completar un estudio de diseño de ingeniería y costes de nivel 3 (FEL-3) para su refinería de litio en Muskogee, Oklahoma. Este estudio de ingeniería definitivo proporcionará especificaciones técnicas detalladas y proyecciones completas de costos para la refinería, que se espera produzca productos de litio de grado para baterías.
El estudio, que concluirá a principios de 2025, resultará en un modelo de ingeniería 3D completo y en los costos totales estimados para la construcción y la maquinaria. Stardust Power planea utilizar esta información para establecer una base de costos para el proyecto y asegurar opciones de financiamiento. La estrategia única de la empresa consiste en optimizar la gran refinería central para múltiples fuentes de entrada de salmuera, con el objetivo de construir cadenas de suministro resilientes en Estados Unidos.
Stardust Power (NASDAQ: SDST)는 Primero USA를 선정하여 오클라호마 주 머스코기의 리튬 정제소에 대한 정면 로드 레벨 3(FEL-3) 엔지니어링 설계 및 비용 조사를 완료할 예정입니다. 이 확정적인 엔지니어링 연구는 정제소의 세부 기술 사양 및 포괄적인 비용 예측을 제공할 예정이며, 정제소는 배터리 등급 리튬 제품을 생산할 것으로 예상됩니다.
이 연구는 2025년 초까지 완료될 예정이며, 3D 엔지니어링 모델과 건설 및 기계에 대한 총 예상 비용이 포함됩니다. Stardust Power는 이 정보를 사용하여 프로젝트의 비용 기준을 제공하고 자금 옵션을 확보할 계획입니다. 회사의 독특한 전략은 여러 출처의 브라인 투입에 대한 중앙 대형 정제소를 최적화하여 강력한 미국 공급망을 구축하는 것입니다.
Stardust Power (NASDAQ: SDST) a choisi Primero USA pour réaliser une étude de conception et de coût d'ingénierie de niveau 3 (FEL-3) pour sa raffinerie de lithium à Muskogee, Oklahoma. Cette étude d'ingénierie définitive fournira des spécifications techniques détaillées et des projections de coûts complètes pour la raffinerie, qui devrait produire des produits en lithium de qualité batterie.
L'étude, qui devrait se terminer début 2025, aboutira à un modèle d'ingénierie 3D complet et à des coûts totaux estimés pour la construction et les machines. Stardust Power prévoit d'utiliser ces informations pour établir une base de coût pour le projet et sécuriser des options de financement. La stratégie unique de l'entreprise consiste à optimiser la grande raffinerie centrale pour plusieurs sources d'entrée de saumure, visant à construire des chaînes d'approvisionnement américaines résilientes.
Stardust Power (NASDAQ: SDST) hat Primero USA ausgewählt, um ein Front-End Loaded Level 3 (FEL-3) Ingenieurdesign und eine Kostenstudie für seine Lithiumraffinerie in Muskogee, Oklahoma abzuschließen. Diese definitive Ingenieurstudie wird detaillierte technische Spezifikationen und umfassende Kostenprognosen für die Raffinerie liefern, die voraussichtlich Batteriegrad-Lithiumprodukte produzieren wird.
Die Studie, die bis Anfang 2025 abgeschlossen sein soll, wird zu einem vollständigen 3D-Ingenieurmodell und geschätzten Gesamtkosten für Bau und Maschinen führen. Stardust Power plant, diese Informationen zu nutzen, um eine Kostenbasis für das Projekt bereitzustellen und Finanzierungsoptionen zu sichern. Die einzigartige Strategie des Unternehmens umfasst die Optimierung der großen zentralen Raffinerie für mehrere Quellen von Soleingaben, mit dem Ziel, widerstandsfähige amerikanische Lieferketten aufzubauen.
- Selection of experienced EPC firm Primero USA for the FEL-3 engineering study
- Progress towards construction of a strategically located lithium refinery in Oklahoma
- Potential to become one of the largest lithium refineries in North America
- Unique strategy to optimize the refinery for multiple sources of brine input
- Construction and major operations not yet commenced
- Financing for the project not yet secured
- Completion of the FEL-3 study not expected until early 2025
The selection of Primero USA for the FEL-3 engineering study is a significant step for Stardust Power's lithium refinery project. This study will provide crucial technical and financial details necessary for project advancement. Key points:
- The FEL-3 study will deliver a comprehensive 3D engineering model and detailed cost projections.
- Completion expected by early 2025, paving the way for major construction.
- Primero's expertise in lithium projects across multiple continents adds credibility to the study.
While this news shows progress, investors should note that actual construction and production are still future events. The study's outcomes will be critical in determining the project's viability and attracting necessary financing.
Stardust Power's strategy to build a centrally located lithium refinery in Oklahoma is noteworthy in the context of the growing U.S. battery supply chain. Key observations:
- The refinery's design to handle multiple brine input sources could provide flexibility and resilience in raw material sourcing.
- Positioning in Oklahoma offers strategic advantages for distribution across the U.S.
- The project aims to be one of the largest lithium refineries in North America, potentially impacting the regional supply-demand dynamics.
However, investors should consider the competitive landscape and potential market oversupply risks as other lithium projects are also in development across North America.
From a financial perspective, this announcement signals progress but also highlights upcoming capital requirements:
- The FEL-3 study will provide a cost basis for the project, important for financial planning and investor communications.
- Stardust Power will need to secure significant financing to move from study completion to construction phase.
- The company's ability to attract capital will depend heavily on the study's outcomes and broader market conditions.
Investors should watch for the study's results and subsequent financing announcements. While positive progress, the company still faces execution risks and potential dilution from future capital raises to fund construction.
Greenwich, Conn., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Stardust Power Inc. (NASDAQ: SDST) (“Stardust Power” or the “Company”), an American developer of battery-grade lithium products, today announced that it has selected Primero USA (“Primero”) to complete a front-end loaded level 3 (“FEL-3”) engineering design and cost study, also known as a definitive engineering study, for its strategically central lithium refinery in Muskogee, Oklahoma.
Primero is a market-leading multidisciplinary EPC firm (engineering, procurement and construction) that specializes in the design, construction, and operation of lithium projects. With offices across North America and Western Australia, Primero delivers projects in over ten countries spanning five continents and has a strong track record from recent engineering for lithium refineries in Texas and North Carolina.
“Stardust Power chose Primero for our FEL-3 engineering study due to their robust technical proposal and the team’s extensive background in lithium refining, including having recently completed detailed engineering projects here in the United States,” said Pablo Cortegoso, Co-Founder and Chief Technical Officer of Stardust Power. “They were extremely competitive and proved to be an agile engineering team that has collaborated seamlessly with our team.”
The FEL-3 engineering study will provide definitive detail and technical specifications regarding the centrally located lithium refinery Stardust Power is building in Muskogee, Oklahoma, which is expected to produce battery-grade lithium products. The study will result in comprehensive cost projections and estimates related to the overall project, design and machinery specifications related to the refinery. The FEL-3 is a culmination of significant technical work Stardust Power has already commissioned.
The study will deliver a process design with the development of a complete 3D engineering model, from which engineers and contractors can provide a comprehensive estimated total cost for the construction and machinery for the refinery. Stardust Power will use this information to provide the market with a cost basis for the project and line up the applicable financing options. Once the FEL-3 study concludes, and with requisite financing in place, the detailed engineering and long-lead procurement effort will commence immediately, enabling the project to commence major construction.
Stardust Power has a unique strategy to optimize its large central refinery for multiple sources of brine input. “We are honored to support Stardust Power’s innovative mission to build American supply chains, Primero will provide the support needed to commence major construction,” commented Matthew Taylor, General Manager of Primero USA. “This is an essential project for Primero and for the United States,” he added.
“Commencing the FEL-3 study marks another exciting milestone for the Stardust Power team, highlighting our dedication to building resilient American supply chains and constructing one of the largest lithium refineries in North America,” stated Roshan Pujari, Founder and CEO of Stardust Power. “The initial phase of FEL-3 began in July, and we anticipate its completion by early 2025. We are steamrolling toward the next crucial inflection point, major construction of our refinery.”
About Stardust Power
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 tonnes 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:
William Tates
Investor.Relations@stardust-power.com
For Media:
Michael Thompson
media@stardust-power.com
About Primero USA
Primero, a subsidiary of NRW Holdings, is a multi-national engineering, procurement and construction business with a global reach. Primero was founded in 2011 with a vision to create a vertically integrated business in the mineral processing, energy, iron ore and non-process infrastructure (NPI) market segments as a turnkey project solution provider.
From major greenfield projects through to brownfield projects on operating sites, Primero’s team of professionals work with clients from the outset to solve complex engineering challenges and create fit for purpose design and construction solutions.
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 recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, 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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