Stardust Power Inc., the Connecticut-based developer of battery-grade lithium carbonate, provided an update under its previously announced agreement with Oklahoma Gas and Electric Company (“OG&E”) relating to electrical infrastructure development for Stardust Power’s proposed lithium refinery in Muskogee, Oklahoma.
The agreement advances the development of critical electrical infrastructure. OG&E is securing long-lead electrical infrastructure required to support large-scale industrial power delivery to the refinery. As electrical infrastructure is typically one of the longest-lead and most critical components of large industrial developments, securing these items represents an important milestone.
“As we continue preparing the Muskogee site for future EPC activities, securing critical electrical infrastructure remains an important component of our overall strategy,” said Chris Celano, Chief Operating Officer of Stardust Power.
Stardust Power’s refinery site spans approximately 66 acres within the Southside Industrial Park in Muskogee, Oklahoma and, once at nameplate capacity, is expected to produce up to 50,000 metric tons per annum of battery-grade lithium carbonate. The refinery is being developed in two phases of approximately 25,000 metric tons per annum for each train.
Last month, Stardust Power announced it had started site preparation, moving the project beyond completed FEL-3 engineering toward detailed design, and was selected as industrial partner in a U.S. Department of Energy-funded research initiative led by Ohio University.
As of June 30, 2026, cash and equivalents were approximately $0.5 million, down from $3.5 million at year-end 2025. Q2 2026 net loss was $3.9 million versus $3.7 million a year earlier, with loss per share of $(0.35) compared to $(0.59), reflecting a higher share count. For the first half of 2026, net cash used in operating activities was $4.0 million (vs. $4.5 million in 2025), investing cash outflows were $0.2 million (vs. $2.2 million), and financing activities provided $1.3 million (vs. $8.4 million). After quarter-end, the company raised about $3.1 million via its ATM equity program and continued project financing initiatives, while appointing Ray Rivers to its Board.
About Stardust Power
Stardust Power 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. Stardust Power is focused on building a resilient American battery supply chain
