Stardust Power Teams Up with MUFG to Develop Major US Lithium Refinery

Stardust Power, an American company focused on developing battery-grade lithium products, has announced its collaboration with MUFG Bank to support the development of a major lithium refining facility in Muskogee, Oklahoma. The facility is set to become one of the largest of its kind in the United States, aiming to produce up to 25,000 metric tons of battery-grade lithium carbonate annually in its initial phase.

MUFG Bank will serve as the lead financial advisor for the project, providing support for fundraising and strategic financial guidance. The first phase of the Muskogee project aims to establish substantial lithium production capacity, with plans to expand production to 50,000 metric tons per year in a second phase. The total investment for the entire facility is estimated at $1.2 billion.

Daniel Seltzer and Christopher Buckingham, Managing Directors at MUFG's New York office, are leading the advisory team. Seltzer expressed enthusiasm about working with Stardust Power, describing the project as an important piece of American infrastructure development.

Stardust Power's CEO, Roshan Pujari, highlighted MUFG's experience in critical materials and its strong investor relationships as key reasons for selecting the bank as their exclusive financial advisor. Pujari emphasized that the partnership is crucial for establishing a domestic lithium supply chain, supporting the energy transition in the United States.