Stardust Power Forges Alliance with MUFG Bank for Major Lithium Project

The American developer of battery lithium products, Stardust Power, has appointed MUFG Bank as the lead financial advisor for its upcoming refinery project in Muskogee, Oklahoma. This partnership could lay the foundation for one of the largest lithium refineries in the country. In the initial phase, the project is expected to achieve a production capacity of 25,000 tons of lithium carbonate per year, a crucial component for electric vehicle batteries. With an estimated total investment volume of $1.2 billion, the production capacity is expected to double to 50,000 tons annually in the second phase. MUFG plays a crucial role in capital raising and advisory in this endeavor. Known for its extensive experience in the commodities sector, the bank is considered one of the world's largest banks and thus a first-rate strategic advisor. Roshan Pujari, CEO and founder of Stardust Power, sees the partnership with MUFG as a significant step: 'After a thorough selection process, we are excited to work with MUFG. The bank has proven itself in the field of critical materials and has extensive investor relationships as well as comprehensive knowledge of lithium supply chains.' Adam Johnson, Chief Commercial Officer at Stardust Power, emphasizes the need for robust supply chains, especially for materials essential to the energy transition.