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.
“It is a big milestone for our firm, having an offtake accomplice akin to Sumitomo, a really credible and prestigious group,” mentioned Roshan Pujari, founder and CEO of Stardust Energy. “They usually can present loads of worth add different than simply buying the product — they will help with our advertising efforts.”
Underneath the settlement, Sumitomo can 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 overall annual capability of Stardust’s deliberate lithium refinery.
Stardust Energy is establishing one of many largest lithium refineries within the US, designed to supply as much as 50,000 metric tons yearly. It’s situated in Muskogee, Oklahoma, with easy accessibility to highway, rail and rivers, and a extremely expert workforce.
The refinery will likely be in-built two phases, with every section able to producing as much as 25,000 metric tons of refined battery-grade lithium per 12 months. The corporate celebrated breaking floor on the website in January 2025, signaling a milestone within the refinery’s development progress.
“Subsequent, we’ll be ending our stage three engineering research, which is de facto the final giant gating merchandise, from an engineering perspective, to start out main development. And so we’re shifting the undertaking ahead in a very fast time, and we’re excited to start out main development later this 12 months,” Pujari mentioned.
Watch the total interview with Roshan Pujari, founder and CEO of Stardust Energy, above.
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