Stardust Power Inc. (“Stardust Power” or the “Company”), an American lithium-ion battery grade products manufacturer in the development phase, announced today that it has chosen Southside Industrial Park in Muskogee, Oklahoma for the construction of a new lithium-ion battery grade refinery. It expects to receive up to $257 million in state and federal economic incentives for the facility expansion. The company may also be eligible for additional federal grants or incentives offered by the Department of Energy and the Department of Defense.
Stardust Power selected Muskogee, Oklahoma as the location for its central refinery due to the state’s central positioning in the United States, facilitating the delivery of lithium raw materials and shipping of lithium-ion battery grade products through various transportation routes, supporting the company’s refining operations. Excellent intermodal transportation options in the area, as well as a highly skilled workforce trained in oil and gas engineering, were other key factors. Additionally, Oklahoma is recognized as an emerging national leader in renewable energy, including solar and wind energy, further supporting Stardust Power’s commitment to carbon emissions reduction.
To meet America’s growing energy demands, Stardust Power aims to collaborate with oil and gas producers to enhance the country’s energy capabilities. Once fully operational, the new lithium-ion refinery will accelerate America’s transition to a more sustainable energy model and strengthen Oklahoma’s local economy by creating significant investment and employment opportunities. Stardust Power, excited about choosing Oklahoma as its new operational site, extends its gratitude to Governor Stitt and officials from the Oklahoma Department of Commerce, Tulsa Regional Chamber, City of Muskogee, and Muskogee Port for their strong support.
Currently, there is no large-scale lithium battery grade refinery in the United States, placing the country in a position of unnecessary risk concerning national security and supply chain. Therefore, the opening of a new lithium refinery is an important step in strategic safeguarding the country. The value of the economic incentive package will ultimately be determined based on Stardust Power’s achievement of specific business milestones related to job creation and local investments, including the purchase of new machinery, equipment, and facilities. The Oklahoma Department of Commerce conducted an analytical analysis of the incentive package based on information provided by the company. Stardust Power is currently planning to commence construction in the first half of 2024.
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