Stardust Power (SDST) Company Report

Stardust Power (SDST) has joined the Cornerstone Consortium, a U.S. Department of Defense aligned framework focused on strengthening the domestic industrial base and securing critical supply chains.
The company's participation supports national efforts to reduce reliance on foreign-sourced critical minerals and bolster the U.S. industrial ecosystem for energy storage, electrification, and defense-adjacent technologies.
Stardust Power, a developer of battery-grade lithium carbonate, is advancing its Muskogee refinery toward construction and commissioning, with a planned capacity to produce up to 50,000 metric tons annually.

4 days ago

Press Release

Stardust Power Secures Up to $10 Million Equity Financing

SDST

New Projects/Investments

Stardust Power Inc. (SDST) has secured up to $10.0 million in common equity financing through a purchase agreement with B. Riley Principal Capital II, LLC.
This 36-month Equity Facility provides the company with the flexibility to raise capital incrementally at its discretion.
The proceeds are intended to support pre-construction and construction activities, long-term growth objectives, working capital, and general corporate purposes.
Shares sold under the agreement will be at a 3.0% discount to the volume weighted average price (VWAP) during specified valuation periods.
The agreement includes safeguards such as an issuance limit of 1,972,924 shares (19.99% of outstanding shares prior to the agreement) unless stockholder approval or a minimum price of $3.57 per share is met, and B. Riley's beneficial ownership is capped at 4.99%.

Feb 18, 2026, 2:00 PM

8-K

Stardust Power Secures Equity Financing

SDST

New Projects/Investments

Stardust Power Inc. has secured an Equity Facility for up to $10.0 million in common equity financing from B. Riley Principal Capital II, LLC.
This facility provides the company with the flexibility to raise capital incrementally over a 36-month period at its discretion.
Proceeds from the financing are expected to support pre-construction and construction activities, long-term growth objectives, working capital, and general corporate purposes.
The company, a developer of battery-grade lithium carbonate, had its Form S-1 registration statement declared effective on February 17, 2026.

Feb 18, 2026, 1:45 PM

Press Release

Stardust Power Secures Final Permit for Muskogee Lithium Refinery

SDST

New Projects/Investments

Stardust Power Inc. (SDST) has received its air quality construction permit from the Oklahoma Department of Environmental Quality (ODEQ) for its lithium refinery in Muskogee, Oklahoma.
This permit is the final significant permit required for the refinery's construction and commissioning, which materially reduces the regulatory timeline risk for the project.
The company is now fully permitted for construction and commissioning and is advancing toward a Final Investment Decision (FID), with major construction expected after project financing is completed.
Once operational, the refinery is projected to produce up to 50,000 metric tons per annum of battery-grade lithium carbonate.

Jan 20, 2026, 2:00 PM

8-K

Stardust Power Secures Final Construction Permit for Muskogee Lithium Refinery

SDST

New Projects/Investments

Stardust Power Inc. (SDST) has received its air quality construction permit from the Oklahoma Department of Environmental Quality (ODEQ) for its lithium refinery in Muskogee, Oklahoma.
This permit represents the final significant permit required for construction and commissioning, materially reducing the regulatory timeline risk for the project.
The refinery is now fully permitted for construction and commissioning and is positioned to become one of the largest planned lithium refineries in the U.S..
Once operational, the facility is expected to produce up to 50,000 metric tons per annum of battery-grade lithium carbonate.
Stardust Power is advancing toward a Final Investment Decision (FID), with major construction anticipated after the completion of project financing.

Jan 20, 2026, 12:30 PM

Press Release

Stardust Power Engages 38 North Solutions for Federal Relations

SDST

New Projects/Investments

Stardust Power Inc. has engaged 38 North Solutions, LLC, a Washington, D.C. based government relations and strategic advisory firm, to support its federal policy, funding strategy, and critical-minerals engagement efforts.
This partnership aims to accelerate the momentum behind Stardust Power's Muskogee refinery, which is designed to produce up to 50,000 metric tons of battery-grade lithium carbonate annually.
The company has already secured potential incentives, including up to $257 million from the Oklahoma Department of Commerce and a $27 million Tax Increment Financing (TIF) district from the City and County of Muskogee.

Jan 7, 2026, 12:30 PM

Press Release

Stardust Power Secures Convertible Debt Financing for Lithium Refinery

SDST

Debt Issuance

New Projects/Investments

Convertible Preferred Issuance

Stardust Power Inc. secured up to $15.0 million in senior secured convertible debt financing from Lind Global Asset Management XIII LLC to support early-stage construction activities for its lithium refinery project in Muskogee, Oklahoma.
An initial $4.0 million drawdown occurred on December 23, 2025, which resulted in the issuance of a Senior Secured Convertible Promissory Note for $4.8 million and a Common Stock Purchase Warrant for approximately 419,162 shares.
The financing has a 24-month term, includes an initial repayment moratorium, and provides the Company with the option to repay the facility in cash or common stock.
The Note does not accrue interest and is due in 20 monthly installments of $240,000 commencing 120 days from the issuance date, and may be converted by Lind at a fixed conversion price of $5.837 per share.
The debt is secured by all assets of the Company and its subsidiaries.

Dec 31, 2025, 10:10 PM

8-K

Stardust Power Secures Debt Financing for Oklahoma Lithium Refinery

SDST

Debt Issuance

New Projects/Investments

Stardust Power Inc. has executed a Securities Purchase Agreement for up to $15.0 million in senior secured convertible debt financing.
This financing is intended to support early-stage construction activities at its lithium refinery project in Muskogee, Oklahoma, with an initial $4.0 million drawdown.
The facility has a 24-month term, includes an initial repayment moratorium, and provides the Company with the option to repay in cash or common stock.

Dec 24, 2025, 12:30 PM

Press Release

Stardust Power Completes Independent Review of Lithium Refinery Project

SDST

New Projects/Investments

Stardust Power Inc. announced the completion of an independent third-party review of its Front-End Loading 3 (FEL 3) engineering study for its Muskogee, Oklahoma lithium carbonate refinery project.
The review, conducted by Black & Veatch, confirmed low technical and design risk and that Phase 1 production targets of 25,000 metric tons per year are achievable.
The report validated the project's design is based on proven lithium processing systems and that the 24-month construction duration and 12-month ramp-up duration are achievable.
This independent validation reinforces the technical integrity and feasibility of the project, advancing it to the next stage of development.

Dec 10, 2025, 12:30 PM

Press Release

Stardust Power Reports Q3 2025 Financials and Project Milestones

SDST

Earnings

New Projects/Investments

Delisting/Listing Issues

Stardust Power reported a net loss of $4.5 million and loss per share of $0.53 for Q3 2025, with $1.6 million in cash and cash equivalents on hand, remaining a pre-revenue company.
The company completed its FEL III study for the Muskogee refinery, confirming a Phase one capacity of 25,000 metric tons per year of battery grade lithium carbonate, with estimated Phase one capital expenditures of approximately $500 million and a 24-month construction timeline.
Stardust Power secured feedstock through Letters of Intent (LOIs) with Prairie Lithium for 6,000 metric tons per year and Mandrake Resources for 7,500 metric tons per year of lithium chloride, and an LOI to supply up to 20,000 metric tons per year of battery grade lithium carbonate to a major global trading house.
The company regained NASDAQ compliance after a one-for-10 reverse stock split on September 8 and raised approximately $1.6 million in gross proceeds through an at-the-market facility.