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Stardust Power Inc. (NASDAQ: SDST) ("Stardust Power" or the "Company"), an American developer of battery-grade lithium carbonate, today announced the commencement of site engineering activities at its lithium refinery site in Muskogee, Oklahoma, marking an important step in advancing the refinery's transition from front-end engineering into execution-level design.
Brown & Root, a leading EPC firm, has been engaged to perform the work, representing another important step in advancing the refinery's detailed engineering. The geotechnical work will include a series of site borings and subsurface investigations based on the refinery's completed Front-End Loading Level 3 ("FEL-3") engineering design and current three-dimensional plant model. The work will evaluate subsurface conditions across key facility locations and translate the refinery's completed FEL-3 engineering into site-specific design data supporting detailed engineering, procurement, foundation engineering and future construction planning. The results will provide critical inputs for site civil design, structural foundation design and infrastructure planning, further advancing the project toward execution.
"With FEL-3 complete, we are now advancing the engineering activities that move the project from design toward execution," said Ken Pitts, Director of Construction and Contracts at Stardust Power. "This work provides critical site-specific information that supports foundation design, construction planning and future engineering. Each step further reduces execution risk and helps position the refinery for efficient execution and delivery. We are pleased to be working alongside experienced engineering and construction partner Brown & Root as we continue advancing the project."
Roshan Pujari, Founder and Chief Executive Officer of Stardust Power, added: "Large-scale industrial projects are built through disciplined engineering and systematic risk reduction. These activities convert completed engineering into site-specific engineering data while further advancing the refinery toward construction. As we continue progressing the project, our focus remains on increasing engineering certainty, reducing execution risk and creating long-term value for our shareholders."
The Muskogee refinery is designed to produce up to 50,000 metric tons per annum of battery-grade lithium carbonate and is expected to be one of the largest lithium refining facilities in the United States upon completion.
About Stardust Power Inc. Â
Stardust Power (NASDAQ: SDST) is building one of America's largest battery-grade lithium carbonate refineries in Muskogee, Oklahoma, strategically located in the center of the United States' growing energy and manufacturing corridor. The refinery is expected to have production capacity of up to 50,000 metric tons per annum and addresses the critical shortage of U.S. lithium refining capacity. The Company's mission is to strengthen America's critical mineral independence by building the domestic infrastructure needed to power the nation's energy, manufacturing and technology future.
For more information, visit www.stardust-power.comÂ
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 StatementsÂ
The foregoing material may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company's product development and business prospects. These statements may include, without limitation, statements regarding management's expectations about future business strategies, financial performance, operating results, growth opportunities, market developments, competitive position, regulatory outlook, our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "likely," "may," "model," "outlook," "plan," "predict," "project," "seek," "target," "will," "could," "should," or similar expressions.
Forward-looking statements are not guarantees of future performance. They are based on current expectations, estimates, forecasts, and assumptions that involve significant risks and uncertainties, many of which are beyond the Company's control and are difficult to predict. Actual results may differ materially from those expressed or implied by such forward-looking statements as a result of various factors, including but not limited to: macroeconomic conditions; inflationary pressures; changes in interest rates; supply chain disruptions; evolving consumer demand; competitive and technological developments; regulatory or legal changes; litigation exposure; cybersecurity threats; and fluctuations in foreign exchange rates. In addition, other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any such forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Readers are cautioned not to place undue reliance on these forward-looking statements, which are made only as of the date of this press release. Except as required by law, the Company assumes no obligation and expressly disclaims any duty to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, even if subsequent events cause expectations to change.
You should consult our filings with the U.S. Securities and Exchange Commission (SEC), including the "Risk Factors" section of its most recent Annual Report on Form 10-K and subsequent filings on Form 10-Q, for additional detail about the factors that could affect our financial and other results.
