US lithium developer Stardust Energy (NASDAQ: SDST) introduced Wednesday it has entered right into a non- binding Letter of Intent with battery know-how firm Cost CCCV LLC, (CV4) for the provision of battery-grade lithium carbonate from Stardust Energy’s lithium refinery in Muskogee, Oklahoma to help C4V’s battery manufacturing joint ventures within the US.
C4V supplied a preliminary lithium carbonate demand forecast exhibiting a phased method for the potential offtake of three,000 MT in 2028; 10,000 MT in 2029 and 20,000 MT by 2030.
Stardust mentioned the agreements, if finalized, might cowl a big share of its deliberate lithium manufacturing and will generate billions of {dollars} in gross sales if lithium costs stay at present ranges.
The deal comes because the US races to safe home sources of lithium amid rising considerations over reliance on imports from China.
In February, the refiner inked a deal to provide Japan’s Sumitomo Company with a minimum of 20,000 tonnes of lithium carbonate a yr when its refinery in Oklahoma enters manufacturing.
In June, Stardust Energy was chosen for a US Division of Vitality-funded analysis program to develop next-generation electrochemical know-how for the extraction of lithium from waste.
“C4V is likely one of the few gigafactory platforms presently working in the US, and their forecasted demand profile highlights the size of home battery manufacturing now taking form,” Stardust Energy CEO Roshan Pujari mentioned in a information launch.
Stardust Energy inventory closed the day down 8.5% on the Nasdaq. The corporate has a $6.6 million market capitalization.
