Stardust Power and OG&E Finalize Key Infrastructure Agreement to Power One of North America’s Largest Proposed Lithium Refineries Located in Muskogee, Oklahoma
Stardust Power (NASDAQ: SDST) has signed a key service agreement with Oklahoma Gas and Electric Company (OG&E) to develop an electric substation for its proposed lithium refinery in Muskogee, Oklahoma. The substation, funded through a long-term usage commitment, will provide up to 40 megawatts of power capacity to what is set to become one of North America's largest lithium refineries.
Located in the Southside Industrial Park on a 66-acre site, the facility will contribute to domestic battery-grade lithium production, crucial for electric vehicles, energy storage, military technologies, and AI applications. The project is currently advancing toward its Final Investment Decision (FID) stage and is expected to create hundreds of well-paying jobs while establishing Oklahoma as a hub for clean energy and critical minerals processing.
Stardust Power (NASDAQ: SDST) ha firmato un importante accordo di servizio con Oklahoma Gas and Electric Company (OG&E) per sviluppare una sottostazione elettrica destinata alla sua proposta raffineria di litio a Muskogee, Oklahoma. La sottostazione, finanziata tramite un impegno di utilizzo a lungo termine, fornirà fino a 40 megawatt di capacità energetica a quella che diventerà una delle più grandi raffinerie di litio del Nord America.
Situata nel Southside Industrial Park su un terreno di 66 acri, la struttura contribuirà alla produzione nazionale di litio di qualità per batterie, essenziale per veicoli elettrici, stoccaggio energetico, tecnologie militari e applicazioni di intelligenza artificiale. Il progetto sta attualmente avanzando verso la fase della Decisione Finale di Investimento (FID) e si prevede che creerà centinaia di posti di lavoro ben retribuiti, consolidando l'Oklahoma come centro per l'energia pulita e la lavorazione di minerali critici.
Stardust Power (NASDAQ: SDST) ha firmado un acuerdo clave de servicio con Oklahoma Gas and Electric Company (OG&E) para desarrollar una subestación eléctrica para su propuesta refinería de litio en Muskogee, Oklahoma. La subestación, financiada mediante un compromiso de uso a largo plazo, proporcionará hasta 40 megavatios de capacidad energética a lo que será una de las refinerías de litio más grandes de Norteamérica.
Ubicada en el Southside Industrial Park en un terreno de 66 acres, la instalación contribuirá a la producción nacional de litio de grado batería, crucial para vehículos eléctricos, almacenamiento de energía, tecnologías militares y aplicaciones de inteligencia artificial. El proyecto avanza hacia su etapa de Decisión Final de Inversión (FID) y se espera que genere cientos de empleos bien remunerados, estableciendo a Oklahoma como un centro para la energía limpia y el procesamiento de minerales críticos.
Stardust Power (NASDAQ: SDST)는 Oklahoma Gas and Electric Company (OG&E)와 오클라호마 머스코기에서 제안된 리튬 정제소를 위한 전기 변전소 개발에 관한 주요 서비스 계약을 체결했습니다. 장기 사용 약정을 통해 자금을 조달하는 이 변전소는 북미에서 가장 큰 리튬 정제소 중 하나가 될 예정인 시설에 최대 40메가와트의 전력 용량을 공급할 예정입니다.
66에이커 부지에 위치한 Southside Industrial Park 내 이 시설은 전기차, 에너지 저장, 군사 기술 및 AI 응용 분야에 필수적인 배터리 등급 리튬의 국내 생산에 기여할 것입니다. 이 프로젝트는 현재 최종 투자 결정(FID) 단계로 진행 중이며, 수백 개의 고임금 일자리를 창출하고 오클라호마를 청정 에너지 및 핵심 광물 가공의 중심지로 자리매김할 것으로 기대됩니다.
Stardust Power (NASDAQ : SDST) a signé un accord de service clé avec Oklahoma Gas and Electric Company (OG&E) pour développer une sous-station électrique destinée à sa raffinerie de lithium proposée à Muskogee, Oklahoma. La sous-station, financée par un engagement d'utilisation à long terme, fournira jusqu'à 40 mégawatts de capacité électrique à ce qui deviendra l'une des plus grandes raffineries de lithium en Amérique du Nord.
Située dans le Southside Industrial Park sur un site de 66 acres, l'installation contribuera à la production nationale de lithium de qualité batterie, essentielle pour les véhicules électriques, le stockage d'énergie, les technologies militaires et les applications d'intelligence artificielle. Le projet progresse actuellement vers sa phase de Décision Finale d'Investissement (FID) et devrait créer des centaines d'emplois bien rémunérés, tout en établissant l'Oklahoma comme un pôle d'énergie propre et de traitement des minéraux critiques.
Stardust Power (NASDAQ: SDST) hat eine wichtige Dienstleistungsvereinbarung mit Oklahoma Gas and Electric Company (OG&E) unterzeichnet, um eine elektrische Umspannstation für die geplante Lithiumraffinerie in Muskogee, Oklahoma, zu entwickeln. Die Umspannstation, die durch eine langfristige Nutzungsverpflichtung finanziert wird, wird eine Leistungskapazität von bis zu 40 Megawatt bereitstellen und damit eine der größten Lithiumraffinerien Nordamerikas versorgen.
Die Anlage befindet sich im Southside Industrial Park auf einem 66 Hektar großen Gelände und wird zur heimischen Produktion von batterietauglichem Lithium beitragen, das für Elektrofahrzeuge, Energiespeicherung, Militärtechnologien und KI-Anwendungen entscheidend ist. Das Projekt befindet sich derzeit in der Phase der endgültigen Investitionsentscheidung (FID) und wird voraussichtlich hunderte gut bezahlte Arbeitsplätze schaffen, wodurch Oklahoma als Zentrum für saubere Energie und die Verarbeitung kritischer Mineralien etabliert wird.
- Agreement secures crucial power infrastructure for one of North America's largest planned lithium refineries
- Project will create hundreds of well-paying jobs in Oklahoma
- 40 megawatt power capacity allows for future growth opportunities
- Infrastructure costs will be covered through long-term usage commitment rather than upfront capital
- Strategic positioning to strengthen domestic battery-grade lithium supply chain
- Project still pending Final Investment Decision (FID) - not yet fully approved
- Significant long-term power usage commitment creates fixed cost obligations
Insights
Stardust Power secures crucial power infrastructure for proposed Oklahoma lithium refinery, advancing toward final investment decision while preserving capital through clever financing structure.
This power infrastructure agreement marks a significant de-risking milestone for Stardust Power's proposed lithium refinery in Muskogee. The deal structure reveals shrewd financial engineering - rather than requiring upfront capital expenditure, costs will be covered through a long-term usage commitment, preserving capital during the critical development phase.
The 40-megawatt capacity planned for the substation indicates the industrial-scale ambitions for this facility. For context, large-scale lithium refineries typically require between 25-50MW, positioning this at the upper end of North American operations. This power agreement addresses one of the most fundamental requirements for any large-scale processing facility.
What's particularly noteworthy is the sequential infrastructure development approach. The site already has construction power available, with this agreement focusing on the substantially larger operating power requirements. This methodical progression demonstrates disciplined project execution as the company approaches its Final Investment Decision stage.
The strategic significance extends beyond Stardust's business prospects. North America faces a critical bottleneck in lithium processing capacity - while numerous mining projects have been announced, domestic refining infrastructure remains insufficient. This facility would help bridge that gap in the supply chain for battery-grade lithium, which remains essential for energy storage, EVs, and technologies critical to both civilian and defense applications.
While this agreement represents meaningful progress, investors should note the project remains in pre-FID status, with significant development milestones still ahead before revenue generation begins.
The OG&E agreement employs a capital-efficient structure that warrants attention. Instead of Stardust funding the substation construction upfront, they've negotiated payment through a long-term usage commitment. This effectively converts what would typically be a significant capital expenditure into an operational expense spread over time.
This structure accomplishes two key objectives: it minimizes initial capital requirements during the capital-intensive development phase, and it aligns infrastructure costs with future revenue generation. For a pre-revenue company developing a major industrial facility, this capital preservation strategy is particularly valuable.
The 66-acre site with 40MW power capacity indicates substantial scale, suggesting a facility capable of meaningful production volume once operational. The power agreement specifically mentions capacity for both operations and "future growth opportunities," indicating potential for phased expansion.
From a project development standpoint, Stardust is methodically reducing execution risk. Securing reliable power infrastructure addresses one of the most fundamental requirements for industrial processing facilities, particularly energy-intensive operations like lithium refining. The mention that construction power is already available on site further demonstrates tangible progress beyond merely acquiring land.
The company is now advancing toward its Final Investment Decision, which represents the critical go/no-go milestone. While the press release doesn't specify timing or funding status for the overall project, this power agreement indicates momentum toward that decision point.
For the Muskogee region, the economic impact of "hundreds of well-paying jobs" would be significant, likely ensuring continued political and community support throughout the development process.
GREENWICH, Conn., May 05, 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 execution of a key service agreement with Oklahoma Gas and Electric Company (“OG&E”) to develop an electric substation on Stardust Power’s site marking a significant milestone in the development of its proposed lithium refinery located within the Southside Industrial Park in Muskogee, Oklahoma. As part of the terms, the cost of engineering, procurement, and construction of the Stardust Power substation will be paid for by a long-term usage commitment by the Company at the facility.
This agreement allows OG&E to further its electrical infrastructure and engineering work needed to supply long-term power to Stardust Power’s proposed refinery. Once completed, the refinery will rank among one of the largest lithium refineries in North America. The project is set to play a vital role in strengthening a secure domestic supply chain for battery-grade lithium, an essential material for electric vehicles, energy storage systems, military technologies, and AI applications.
“This agreement reflects not only the incredible support we’ve received from our utility partners, but also the shared vision for making Oklahoma a national hub for energy infrastructure,” said Roshan Pujari, Founder and CEO of Stardust Power. “Reliable and scalable electrical service is a cornerstone of our refinery’s operations, and OG&E’s partnership ensures we’ll have the necessary foundation to power this transformative facility as we build it out and operate it in the future.”
The site currently has the capacity to provide construction power, but the new substation will provide operating power for the facility as well as future growth opportunities. Under the agreement, OG&E will initiate site-specific engineering, design and procurement efforts to support the anticipated power load requirements of up to 40 megawatts. The work includes potential upgrades to regional transmission systems and preparation for high-capacity electrical service at the 66-acre site.
“This is a crucial step in bringing power to our site and advancing our project to the next phase,” added Chris Celano, Chief Operations Officer, Stardust Power. “It’s also a key move toward fulfilling our commitment to job creation and clean energy innovation in Muskogee and Oklahoma.”
The refinery project is expected to generate hundreds of well-paying jobs and attract further investment to the region, supporting Oklahoma’s growing leadership in clean energy, advanced manufacturing, and critical minerals processing. Stardust Power is working towards its Final Investment Decision (“FID”) stage of the project, which when greenlit, will signal the start of detailed design and follow-on construction of the refinery.
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.
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