Stardust Power Reports 2024 Financial Results and Strategic Milestones

Stardust Power Inc. ( (SDST) ) has released its Q4 earnings. Here is a breakdown of the information Stardust Power Inc. presented to its investors.

Stardust Power Inc., a developer of battery-grade lithium products, is focused on supplying the electric vehicle industry and enhancing U.S. energy leadership through resilient supply chains. The company is strategically developing a lithium refinery in Muskogee, Oklahoma, with a planned capacity of up to 50,000 metric tons annually.

In its latest earnings report for the year ending December 31, 2024, Stardust Power highlighted several significant milestones, including its listing on the Nasdaq Global Market and the acquisition of a 66-acre refinery site in Oklahoma. The company also secured key permits and approvals necessary for its operations and advanced its Definitive Feasibility Study.

Financially, Stardust Power reported a net loss of $23.8 million for 2024, a substantial increase from the previous year’s loss of $3.8 million, attributed to higher administrative expenses and expanded operations. The company raised $6.4 million in capital during the year and an additional $5.75 million in January 2025 through equity transactions. Strategic partnerships were also formed, including a potential long-term supply agreement with Sumitomo Americas and a licensing agreement with KMX Technologies.

Looking ahead, Stardust Power is focused on executing its business plan to meet the growing demand for secure U.S. supply chains and energy independence. With recent strategic site acquisitions, key partnerships, and investments in innovative technologies, the company aims to position itself for growth and value creation in the lithium sector.