Stardust Power and Ohio University Sign Agreement to Advance and Support Lithium Refining Technologies

GREENWICH, Conn., June 16, 2025 (GLOBE NEWSWIRE) -- Stardust Power Inc. (NASDAQ: SDST) ("Stardust Power" or the "Company"), an American developer of battery-grade lithium products, today announced it has signed a Memorandum of Understanding (MOU) with Ohio University for a strategic partnership on advanced lithium extraction and refining technologies, including potential applications of Direct Lithium Extraction (DLE). This partnership aims to accelerate scientific and technical research around the production of lithium and refined lithium products from brine sources.

The collaboration also supports a concept paper submitted by Ohio University under the U.S. Department of Energy’s (DOE) Vehicle Technologies Office FY2025 Funding Opportunity Announcement (DE-FOA-0003514). If selected, the initiative could lead to deeper research into domestic lithium processing innovations, with Stardust Power providing industry input and technical support to Ohio University.

Under the MOU, Stardust Power will contribute raw material samples, technical expertise, and collaborative input on refining processes, including technical data related to the characteristics of lithium chloride relevant to the research. The Company will also support a techno-economic model focused on evaluating the scalability and commercial potential of emerging DLE technologies and lithium recovery pathways. This strategic partnership has the added benefit of potentially securing sources of lithium brine feedstock for Stardust Power’s large central processing plant being developed in Muskogee, Oklahoma.

“We are proud to partner with Ohio University to explore next-generation lithium technologies,” said Roshan Pujari, Founder and CEO of Stardust Power. “Working alongside Professor Staser and his team will advance new approaches to lithium. This strategic partnership reflects our commitment to innovation and American leadership in the battery materials supply chain.”

Professor John Staser, from the Department of Chemical and Biomolecular Engineering at Ohio University, added: "Partnering with an industry leader like Stardust Power provides a unique opportunity to accelerate the development of practical, scalable solutions for lithium production. Our team is excited to contribute research that could support U.S. energy independence and help meet the growing demand for domestic battery materials."

This partnership reflects a shared commitment to workforce development and educational excellence. Stardust Power strongly believes in the value of education and hands-on training in lithium extraction, refining, and advanced battery technologies, areas where Ohio University has demonstrated strong leadership and academic excellence. By aligning on these goals, the two organizations aim to cultivate the next generation of engineers and scientists essential to securing America’s clean energy future. This strategic collaboration further strengthens Stardust Power’s position as a market leader in lithium refining and supports the broader goal of building a resilient, domestic battery materials supply chain.

About Stardust Power Inc.

Stardust Power is a developer of battery-grade lithium products designed to bolster America’s energy leadership by building resilient supply chains. Stardust Power is developing a strategically central lithium refinery in Muskogee, Oklahoma with the anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium. The Company is committed to sustainability at each point in the process. Stardust Power trades on the Nasdaq under the ticker symbol “SDST.”

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Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements.” Such forward-looking statements are often identified by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “forecasted,” “projected,” “potential,” “seem,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or otherwise indicate statements that are not of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements and factors that may cause actual results to differ materially from current expectations include, but are not limited to: the ability of Stardust Power to successfully carry out its partnership with Ohio University, the ability of Stardust Power to grow and manage growth profitably, maintain key relationships and retain its management and key employees; risks related to the uncertainty of the projected financial information with respect to Stardust Power; risks related to the price of Stardust Power’s securities, including volatility resulting from changes in the competitive and highly regulated industries in which Stardust Power plans to operate, variations in performance across competitors, changes in laws and regulations affecting Stardust Power’s business and changes in the combined capital structure; and risks related to the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities. The foregoing list of factors is not exhaustive.

Stockholders and prospective investors should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Stardust Power from time to time with the SEC.

Stockholders and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which only speak as of the date made, are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of Stardust Power. Stardust Power expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations of Stardust Power with respect thereto or any change in events, conditions or circumstances on which any statement is based.