Stardust Power Raises $15M to Advance Preconstruction Work at Okla. Lithium Refinery

Stardust Energy Inc., a Greenwich, Conn.-based developer targeted on constructing home lithium refining capability, has secured as much as $15 million in senior-secured convertible debt financing to advance early-stage work on its deliberate lithium refinery in Muskogee, Okla.

The corporate mentioned the financing will present bridge capital for engineering and procurement whereas it pursues state permits and full project-level development financing. Securities filings present the ability consists of an preliminary $4-million draw meant to fund detailed engineering, infrastructure planning and procurement as the corporate works towards development of a deliberate battery-grade lithium carbonate refinery designed to supply 50,000 metric tons per 12 months.

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Stardust doesn’t mine uncooked supplies. As a substitute, it plans to course of lithium-bearing feedstocks into refined materials for battery producers, positioning the Muskogee challenge within the midstream section of the battery provide chain reasonably than in extraction or battery cell manufacturing.

Public state allowing databases reviewed by ENR did not show filings below Stardust Energy or widespread title variations for state air, water or waste permits tied to the Muskogee refinery as of Dec. 28. These approvals are required earlier than full-scale development of a chemical processing facility can start.

In Oklahoma, environmental allowing for giant industrial tasks is overseen by the Oklahoma Division of Environmental High quality, which regulates air emissions, wastewater discharges, stormwater and waste dealing with. Industrial water provide approvals are dealt with individually by the Oklahoma Water Sources Board.

The challenge held a ceremonial groundbreaking in January 2025, however state environmental permits required for full development haven’t but been filed or issued, indicating subsequent exercise has remained restricted to early website and preconstruction work.

Stardust has not introduced an engineering, procurement and development contractor, nor has it disclosed a remaining development value or schedule. Requests for added challenge particulars weren’t returned by press time.

The Muskogee challenge is a part of a broader push to increase U.S. refining and conversion capability for battery supplies, a section researchers and policymakers have described as technically demanding. “Separating lithium selectively and effectively from complicated mixtures stays one of the vital technical challenges in constructing a home lithium provide chain,” Venkat Srinivasan, director of the Argonne Collaborative Middle for Vitality Storage Science at Argonne Nationwide Laboratory, mentioned in revealed analysis on lithium-processing applied sciences.

Till state permits are filed and development financing is secured, exercise on the Muskogee challenge is predicted to stay targeted on engineering and different preconstruction work reasonably than vertical development.