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Stardust Power (NASDAQ: SDST) executed a non-binding Letter of Intent with Prairie Lithium to secure 6,000 metric tons per annum (LCE) of lithium chloride feedstock for its Muskogee, Oklahoma refinery, with initial deliveries as early as 2027. The Agreement spans an initial six-year term with two six-year extension options (up to 18 years) and supports the company's move toward a Final Investment Decision and major construction.
Prairie Lithium’s Preliminary Economic Statement cites up to 17,000 tpa capacity; feedstock deliveries to the Port of Muskogee Free Trade Zone enable local storage, tariff advantages, and use in commissioning and ramp-up. The Agreement is non-binding and subject to a definitive contract.
Stardust Power (NASDAQ: SDST) announced on October 13, 2025 the appointment of Kenneth Pitts as Construction and Subcontracts Director, based in Houston, Texas.
Mr. Pitts will oversee onsite execution, construction operations, and subcontract portfolios at the Muskogee, Oklahoma lithium refinery, reporting to Project Director Randall Harris. The hire is presented as a step toward commencing Phase 1 construction and driving safe, on-schedule, on-budget delivery of engineered solutions.
Mr. Pitts brings over 25 years of international heavy industrial experience, prior senior roles at Neom, Clough North America, IHI E&C, Fluor, and CB&I, and is a registered Professional Civil Engineer with a BS and ME in Civil Engineering and Construction from the University of Florida.
Stardust Power (NASDAQ:SDST) has completed its Front End Loading 3 (FEL 3) report for its planned lithium processing facility in Muskogee, Oklahoma. The report reveals significant optimizations, with Phase 1 capital expenditures reduced by $200 million to approximately $500 million, with 90% probability of achievement.
The facility's Phase 1 will produce 25,000 metric tons per annum of battery-grade lithium, expandable to 50,000 metric tons in Phase 2, positioning it as one of the largest planned lithium refineries in the U.S. Construction is expected to take 24 months from major construction start to mechanical completion.
The FEL 3 report, completed by Primero USA, includes comprehensive 3D process modeling and detailed cost estimates, with reduced contingency levels reflecting increased project definition. The facility will feature zero liquid discharge technology and create hundreds of local jobs in Oklahoma.
Stardust Power (NASDAQ:SDST) has announced a 1-for-10 reverse stock split effective September 8, 2025, aimed at regaining Nasdaq compliance and strengthening its market position. The split will reduce outstanding shares to approximately 8.46 million, with the stock continuing to trade under the SDST symbol.
The strategic move, approved by shareholders on June 9, 2025, is designed to maintain capital markets access and enhance institutional investor appeal as the company advances its U.S. lithium refining project. Upcoming milestones include completion of FEL-3 engineering work, permitting advancement, securing project financing, and beginning construction of the Muskogee, Oklahoma lithium processing facility.
Stardust Power (NASDAQ:SDST), a U.S. battery-grade lithium products developer, reported Q2 2025 financial results with a net loss of $3.7 million ($0.06 per share), compared to $2.7 million loss in Q2 2024. The company successfully raised $4.52 million through a public offering in June 2025.
Key operational highlights include progress on the FEL-3 engineering study, formation of a strategic partnership with Ohio University for lithium extraction research, and advancement in engineering and permitting. The company ended Q2 with $2.6 million in cash, no long-term debt, and increased net cash used in operating activities to $4.5 million for H1 2025.
[ "Successfully raised $4.52 million through public offering", "No long-term debt on balance sheet", "Strategic partnership with Ohio University for lithium extraction research", "Improved loss per share to $(0.06) from $(0.07) year-over-year" ]Stardust Power (NASDAQ: SDST), a developer of battery-grade lithium products, has scheduled its Q2 2025 earnings release for August 13, 2025, after market close.
The company will host a conference call at 5:30 PM ET on the same day, featuring CEO Roshan Pujari and CFO Uday Devasper. Participants can join through a dial-in registration link or access the live audio webcast through the company's website. Attendees are advised to log in 15 minutes before the call.
Stardust Power (NASDAQ: SDST), a U.S. battery-grade lithium products developer, reported its Q1 2025 financial results. The company posted a net loss of $3.8 million ($(0.07) per share), compared to $1.4 million loss in Q1 2024. Key operational highlights include securing a service agreement with Oklahoma Gas and Electric for a dedicated substation providing 40MW of power at the Muskogee refinery site, and confirmation that the facility won't require an industrial wastewater permit due to its closed-loop water system.
Financial position shows cash and cash equivalents of $1.6 million with zero long-term debt. The company raised $8.0 million through public offering and warrant inducements, while using $2.9 million in operating activities and $1.0 million in investing activities. Stardust Power appointed Carlos Urquiaga as Senior Advisor, bringing over $40 billion in transaction experience to support financing efforts.
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) 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.
Stardust Power (NASDAQ: SDST) reported its financial results for the year ended December 31, 2024, marking significant operational milestones despite widening losses. The company incurred a net loss of $23.8 million in 2024, compared to $3.8 million in 2023, with a loss per share of $0.55.
Key developments include the purchase of a 66-acre refinery site in Muskogee, Oklahoma for $1.7 million, and securing essential permits. The company raised $6.4 million in capital during 2024 and an additional $8.65 million in early 2025 through equity transactions and warrant exercises.
Notable achievements include entering a non-binding agreement with Sumitomo Americas for potential supply of up to 25,000 metric tons of lithium carbonate annually, signing a licensing agreement with KMX Technologies for VMD concentration technology, and advancing their Definitive Feasibility Study. The company also strengthened its leadership team with key appointments.