Company Overview

Stardust Power Inc. (ticker: SDST) is a U.S.-based energy transition materials company focused on the development of domestic lithium processing infrastructure. The company operates within the critical minerals and battery materials industries, with a primary objective of producing battery-grade lithium compounds for the North American electric vehicle (EV) and energy storage supply chains. Its core business is centered on the planned development of a large-scale lithium refinery designed to process lithium-bearing feedstocks into lithium hydroxide.

The company’s primary revenue driver is expected to be the future sale of battery-grade lithium hydroxide to EV manufacturers, battery producers, and industrial customers. Stardust Power positions itself as a domestic supplier intended to reduce U.S. reliance on foreign lithium processing, particularly from Asia. The company was founded in 2022 and became publicly listed in 2023 following a business combination with a special purpose acquisition company, marking its transition from a private development-stage entity to a publicly traded company focused on project execution and financing.

Business Operations

Stardust Power currently operates as a development-stage company with no commercial production. Its core business activity is the design, permitting, and planned construction of a lithium refinery in the United States. The proposed facility is intended to process lithium feedstocks sourced from domestic and international suppliers using conventional chemical conversion processes to produce battery-grade lithium hydroxide.

Operations are primarily focused on project development, engineering studies, environmental permitting, and securing long-term feedstock and offtake arrangements. The company does not currently report operating revenue. It does not control active mining assets and instead plans to rely on third-party lithium feedstock suppliers. As of the most recent public disclosures, Stardust Power has no fully consolidated operating subsidiaries with revenue-generating activities, and its operations remain concentrated in pre-construction and capital-raising phases.

Strategic Position & Investments

Stardust Power’s strategic direction is centered on establishing a U.S.-based lithium processing asset aligned with federal and state-level initiatives to localize critical mineral supply chains. The company’s primary growth initiative is the development of its planned lithium refinery, which is intended to scale in phases to meet growing EV-related demand. Management has emphasized alignment with U.S. industrial policy supporting domestic battery supply chains.

The company has not completed any material acquisitions of operating businesses. Its investments to date have largely consisted of project development expenditures, engineering contracts, land acquisition, and early-stage infrastructure planning. Stardust Power has disclosed efforts to pursue strategic partnerships with lithium feedstock suppliers and potential customers, though binding long-term agreements have been limited or not fully finalized based on available public filings. Exposure to emerging technologies is indirect, tied to downstream EV and battery markets rather than proprietary extraction or processing technology.

Geographic Footprint

Stardust Power is headquartered in the United States, with corporate offices in Connecticut and its primary operational focus in Oklahoma, where the proposed lithium refinery site is located. The Oklahoma location was selected based on access to infrastructure, transportation networks, utilities, and proximity to industrial customers.

While the company’s operational footprint is currently domestic, its strategic sourcing plans contemplate lithium feedstocks from both North America and select international markets. The company does not currently operate facilities outside the United States, and it has no material international subsidiaries. Its market focus is primarily North America, reflecting its strategy to serve U.S.-based EV and battery manufacturers.

Leadership & Governance

Stardust Power was founded by Roshan Pujari, who has played a central role in shaping the company’s strategy around domestic lithium processing. The leadership team emphasizes capital discipline, project execution, and alignment with long-term electrification trends. The board and management structure reflect a mix of energy, infrastructure, and finance experience typical of development-stage public companies.

Key executives include:

• Roshan Pujari – Founder, Chairman, and Chief Executive Officer
• Samir Patel – Chief Financial Officer
• Drew Horn – Vice President, Government Relations
• Scott G. Smith – Chief Development Officer

Leadership has articulated a strategic vision focused on building a scalable, U.S.-based lithium platform capable of supporting the domestic EV supply chain. Certain executive roles and responsibilities may evolve as the company transitions from development to construction and operations; where discrepancies exist across public disclosures, data is inconclusive based on available public sources.