Stardust Energy (NASDAQ:SDST) has signed a non-binding offtake settlement with Sumitomo Company, a serious buying and selling firm headquartered in Japan, for as much as 20,000 metric tons each year of battery-grade lithium carbonate.
“This can be a large milestone for our firm, having an offtake associate resembling Sumitomo, a really credible and prestigious group,” stated Roshan Pujari, founder and CEO of Stardust Energy. “And so they can present a variety of worth add different than simply buying the product — they will help with our advertising and marketing efforts.”
Below the settlement, Sumitomo could have the choice to purchase as much as 20,000 metric tons of battery-grade lithium yearly, which represents 80 % of Part 1 and 40 % of the entire annual capability of Stardust’s deliberate lithium refinery.
Stardust Energy is setting up one of many largest lithium refineries within the US, designed to provide as much as 50,000 metric tons yearly. It’s situated in Muskogee, Oklahoma, with easy accessibility to street, rail and rivers, and a extremely expert workforce.
The refinery will probably be inbuilt two phases, with every part able to producing as much as 25,000 metric tons of refined battery-grade lithium per yr. The corporate celebrated breaking floor on the web site in January 2025, signaling a milestone within the refinery’s building progress.
“Subsequent, we’ll be ending our degree three engineering research, which is basically the final massive gating merchandise, from an engineering perspective, to start out main building. And so we’re shifting the undertaking ahead in a very fast time, and we’re excited to start out main building later this yr,” Pujari stated.
Watch the total interview with Roshan Pujari, founder and CEO of Stardust Energy, above.
Disclaimer: This interview is sponsored by Stardust Energy (NASDAQ:SDST). This interview gives data which was sourced by the Investing Information Community (INN) and authorized by Stardust Energy in an effort to assist buyers study extra in regards to the firm. Stardust Energy is a shopper of INN. The corporate’s marketing campaign charges pay for INN to create and replace this interview.
INN doesn’t present funding recommendation and the knowledge on this profile shouldn’t be thought-about a suggestion to purchase or promote any safety. INN doesn’t endorse or suggest the enterprise, merchandise, companies or securities of any firm profiled.
The data contained right here is for data functions solely and isn’t to be construed as a proposal or solicitation for the sale or buy of securities. Readers ought to conduct their very own analysis for all data publicly out there in regards to the firm. Prior to creating any funding choice, it is strongly recommended that readers seek the advice of straight with Stardust Energy and search recommendation from a certified funding advisor.
This interview might include forward-looking statements together with however not restricted to feedback relating to the timing and content material of upcoming work packages, receipt of property titles, and many others. Ahead-looking statements handle future occasions and circumstances and subsequently contain inherent dangers and uncertainties. Precise outcomes might differ materially from these at present anticipated in such statements. The issuer depends upon litigation safety for forward-looking statements. Investing in corporations comes with uncertainties as market values can fluctuate.
