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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) reported Q3 2024 financial results, highlighting operational achievements including Nasdaq listing completion and key management appointments. The company reported a net loss of $10.0 million ($0.22 per share) compared to $0.8 million ($0.02 per share) in Q3 2023. Cash and equivalents stood at $1.6 million with zero long-term debt. The company secured a $50 million common stock purchase agreement with B. Riley and selected Primero USA for engineering design of its Oklahoma lithium refinery. Operating cash outflow increased to $8.5 million for the nine months, while financing activities provided $10.1 million.
Stardust Power (NASDAQ: SDST), an American developer of battery-grade lithium products, has scheduled its third quarter 2024 financial results release for Wednesday, November 13, 2024, after market close. The company will host a conference call at 5:30 pm ET the same day, featuring CEO Roshan Pujari and CFO Uday Devasper to discuss company performance. Participants can join via registration link for dial-in access or through live audio webcast, and are advised to log in 15 minutes early.
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 Inc. (NASDAQ: SDST) has announced the appointment of Paramita Das as Chief Strategy Officer and Senior Advisor to the CEO. With over 20 years of experience in the metals and mining sector, Das brings valuable expertise to support Stardust Power's mission of reshoring lithium processing and production for U.S. energy independence.
Das previously held leadership positions at Rio Tinto, where she served as Global Head of Marketing, Development and ESG for Metals and Minerals. Her experience includes roles at Sumitomo , Itochu , UACJ Consortium, and BP. She currently serves on the boards of Genco Shipping & Trading and Coeur Mining, Inc.
In her new role, Das will advise CEO Roshan Pujari and support the company's next phase of commercialization and development, focusing on advancing Stardust Power's battery-grade lithium refinery in Oklahoma and establishing a robust ESG framework.
Stardust Power Inc. (NASDAQ: SDST), a developer of battery-grade lithium products, has appointed Johanna Gonzalez as Director of Investor Relations and Communications, effective September 3, 2024. Gonzalez will focus on strengthening the company's investor relations strategy and managing communications with stakeholders, analysts, and the investment community.
Gonzalez brings over 15 years of global investor relations and communications experience, having previously held senior positions at irlabs and Bristol Capital. She joins William Tates on the investor relations team. CEO Roshan Pujari expressed excitement about Gonzalez's appointment, citing her exceptional capital markets experience and track record in fostering relationships with the financial community.
Stardust Power, an American manufacturer of battery-grade lithium products, will ring the opening bell at the Nasdaq Market on July 11, 2024, to celebrate its public listing.
This follows the company's recent merger with Global Partner Acquisition Corp II. Stardust Power's shares and public warrants commenced trading on Nasdaq on July 9, 2024, under the ticker symbols 'SDST' and 'SDSTW', respectively.
Founder and CEO Roshan Pujari highlighted the company's mission to lead in U.S. battery-grade lithium production, emphasizing the importance of domestic lithium supply for national security. The company expects eligibility for up to $257 million in state incentives for its Oklahoma facility and potential federal incentives.
Stardust Power has completed its business combination with Global Partner Acquisition Corp II and will commence trading on Nasdaq under the ticker symbol “SDST” starting July 9, 2024. The shareholders of GPAC II approved this combination in a special meeting on June 27, 2024. Stardust Power, a development-stage American manufacturer of battery-grade lithium products, aims to advance the development of its lithium refinery in Muskogee, Oklahoma, expected to produce up to 50,000 tonnes per annum. The facility intends to use sustainable power sources like solar and wind. This milestone is seen as a significant step towards enhancing America’s energy leadership and building resilient supply chains for critical materials.
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