Stardust Power (NASDAQ: SDST) completes review of Muskogee lithium project

Rhea-AI Filing Summary

Stardust Power Inc. reported that an independent engineering firm, Black & Veatch, has completed a review of the Front-End Loading 3 (FEL 3) study for its Muskogee lithium carbonate refinery project. According to the company, the review affirmed that the project’s technical and design assumptions are based on proven industry standards and that the initial production targets set out in the study are achievable.

This type of third-party engineering review evaluates whether a complex industrial project is designed in a realistic, buildable way. By confirming that the Muskogee refinery plan follows established industry practices and supports the stated initial production targets, the assessment adds technical support to the underlying design of Stardust Power’s planned lithium carbonate facility.

Insights

Industrial project analyst

Independent engineers validated key design and production assumptions for Stardust Power’s Muskogee lithium refinery project.

Stardust Power engaged Black & Veatch to review the Front-End Loading 3 (FEL 3) study for its Muskogee lithium carbonate refinery. FEL 3 work typically covers detailed project design, cost and schedule at a stage where management can judge whether a project is technically realistic. The company states that the review affirmed the study’s technical and design assumptions as being based on proven industry standards.

The engineers also concluded that the initial production targets in the study are achievable, which speaks directly to whether the planned facility can reasonably reach its early output goals under the proposed design. While no financial figures or timelines are disclosed here, confirming technical feasibility and production assumptions is a key step for large process-industry projects like a lithium refinery.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) December 10, 2025

STARDUST POWER INC.

(Exact name of registrant as specified in its charter)

Delaware		001-39875		99-3863616
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

15 E. Putnam Ave, Suite 378, Greenwich, CT 06830

(Address of principal executive offices)

(800) 742-3095

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		SDST		The Nasdaq Global Market
Redeemable warrants, with 10 warrants exercisable for one share of Common Stock at an exercise price of $115.00		SDSTW		The Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events

On December 10, 2025, the Company issued a press release announcing that it completed an independent engineering review of its Muskogee lithium carbonate refinery project Front-End Loading 3 (“FEL 3”) study, conducted by Black & Veatch. According to the press release, the review affirmed that the project’s technical and design assumptions are based on proven industry standards and that initial production targets are achievable. A copy of the press release is furnished herewith as Exhibit 99.1.

The information in this Item 8.01 and Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
99.1		Press Release, dated December 10, 2025
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	STARDUST POWER INC.
Date: December 16, 2025	By:	/s/ Roshan Pujari
	Name:	Roshan Pujari
	Title:	Chief Executive Officer

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FAQ

What did Stardust Power Inc. (SDST) announce in this report?

Stardust Power announced that it completed an independent engineering review of the Front-End Loading 3 (FEL 3) study for its Muskogee lithium carbonate refinery project, conducted by Black & Veatch.

What is the Muskogee lithium carbonate refinery FEL 3 study for Stardust Power (SDST)?

The Muskogee lithium carbonate refinery FEL 3 study is a detailed engineering and design phase, described as a Front-End Loading 3 (FEL 3) study for Stardust Power’s planned lithium carbonate refinery project in Muskogee.

Who performed the independent engineering review for Stardust Power’s Muskogee project?

The independent engineering review of the Muskogee lithium carbonate refinery FEL 3 study was carried out by Black & Veatch, an external engineering firm.

What were the main conclusions of the Black & Veatch review for Stardust Power (SDST)?

The review concluded that the project’s technical and design assumptions are based on proven industry standards and that the initial production targets described in the study are achievable.

Where can investors read the full Stardust Power Muskogee project announcement?

The full announcement is provided in a press release dated December 10, 2025, which is included as Exhibit 99.1 to the report.

On which exchange are Stardust Power (SDST) shares and warrants listed?

Stardust Power’s common stock trades on The Nasdaq Global Market under the symbol SDST, and its redeemable warrants trade on The Nasdaq Global Market under the symbol SDSTW.