Stardust Power Business Summary

Stardust Power Inc. (SDST) is a development-stage American manufacturer and refiner specializing in the production of battery-grade lithium carbonate (BGLC). The company’s business model is centered on the midstream processing of lithium brine feedstock sourced from diversified American suppliers, with future revenue expected to be generated through direct sales to electric vehicle (EV) manufacturers, battery producers, the U.S. military, and original equipment manufacturers (OEMs). Operating primarily within the industrial products and energy transition segments, Stardust Power is currently developing a strategically central lithium refinery in Muskogee, Oklahoma, designed with an anticipated production capacity of up to 50,000 metric tons per annum. The company competes directly with established and emerging lithium players such as Piedmont Lithium (PLL), Standard Lithium (SLI), Aemetis (AMTX), and Cibus (CBUS), positioning itself as a critical midstream infrastructure provider aimed at reducing U.S. reliance on foreign lithium refining and bolstering domestic energy security. The leadership team is anchored by Founder and CEO Roshan Pujari, who also serves as Chairman and brings over 20 years of investment experience from VIKASA Capital, where he oversaw more than $2 billion in transactions. The technical foundation is led by Co-Founder and CTO Pablo Cortegoso, a civil engineer with over 15 years of expertise in global lithium projects at SRK Consulting and Aurora Lithium, alongside Co-Founder and Director Charlotte Nangolo, a mining engineer and founder of Minerals of Africa. Key executives include CFO Uday Devasper, formerly a partner at Effectus Group and an auditor at KPMG, and General Counsel Bruce Czachor, who was appointed in January 2026 following his tenure as Executive Vice President and Chief Legal Officer at Piedmont Lithium. The company’s board features notable figures such as former Oklahoma City Mayor Mick Cornett and Synopsys SVP Sudhindra Kankanwadi, while its capital structure is supported by institutional investors including Armistice Capital and a recent $10 million equity financing facility with B. Riley Principal Capital II.