Stardust Power Secures Lithium Supply Agreement with Charge CCCV

US lithium developer Stardust Power has announced a non-binding Letter of Intent regarding battery-grade lithium carbonate supply from its Muskogee, Oklahoma refinery to support manufacturing joint ventures in the United States. The agreement involves Charge CCCV LLC and aims to bolster domestic production capabilities as reliance on imports grows.

Preliminary demand forecasts indicate a phased approach for potential off-take volumes starting at 3,000 metric tonnes in 2028, rising to 10,000 MT in 2029 and reaching 20,000 MT by 2030. If finalized, the deal could cover a significant portion of planned production and generate substantial sales revenue should current pricing levels persist.

This development occurs as America seeks to secure domestic lithium sources amidst heightened concerns over dependence on Chinese imports. The company previously secured an agreement in February to supply at least 20,000 tonnes annually to Japan’s Sumitomo Corporation upon refinery entry into production and was selected for a Department of Energy-funded research program focused on extracting lithium from waste materials.

Stardust Power CEO Roshan Pujari noted that Charge CCCV represents one of the few gigafactory platforms currently operating domestically, highlighting the scale of battery manufacturing taking shape. The company reported second-quarter net income of $480 million compared to $22.9 million in the prior year quarter.

Shares closed down 8.5% on Nasdaq following the announcement with a market capitalization of $6.6 million. Broader industry concerns regarding supply chain erosion and underinvestment continue to influence investor sentiment as geopolitical tensions amplify bottlenecks affecting critical materials like uranium production.