SDSTW

EX-99.1

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EX-99.1

Exhibit 99.1

Stardust Power Reports Preliminary 2025 Results and Highlights Development Progress at Muskogee Lithium Refinery

GREENWICH,

Conn., March 17, 2026 -- Stardust Power Inc. (Nasdaq: SDST) (“Stardust Power” or the “Company”), an American developer of battery-grade lithium carbonate, today announced its preliminary results for the year ended December 31, 2025 and provided an update on the continued development of its lithium refinery project in Muskogee, Oklahoma.

“2025 marked a year of meaningful progress for Stardust Power as we advanced the technical, commercial and regulatory foundations of our lithium refinery in Muskogee,” said Roshan Pujari, Founder and Chief Executive Officer of Stardust Power. “During the year, we completed key engineering milestones, including our FEL-3 study, entered into strategic feedstock supply agreements and received independent third-party validation of the refinery design. Phase I is expected to produce up to 25,000 metric tons per year of battery-grade lithium carbonate, forming the first stage of a planned 50,000 metric tons per-year refining platform, with estimated Phase I CapEx of approximately $500 million. The refinery is designed to support the development of a more secure domestic lithium supply chain. Following year-end, we also received our air quality construction permit from the Oklahoma Department of Environmental Quality, which helps position the refinery to move toward construction.”

2025 Refinery Project Milestones and Business Highlights:

●Completed the Front-End Loading Level 3 (“FEL-3”) engineering study by Primero for the planned lithium refinery in Muskogee, Oklahoma, providing engineering and project definition and establishing an estimated capital cost of approximately $500 million to support the next stage of development and construction planning. The Company continues to evaluate a range of project financing alternatives, including potential strategic partners, government-supported financing programs and capital markets transactions, to support the development and construction of the Muskogee lithium refinery.

●Completed an independent third-party review of the Muskogee lithium refinery by Black & Veatch, which concluded that the project presents low technical and design risk and that Phase 1 production targets are expected to be achievable.

●Broke ground at the site in Muskogee, Oklahoma, initiating early site preparation as the refinery advances toward construction.

●Entered into non-binding lithium chloride feedstock supply arrangements with Mandrake Resources and Prairie Lithium totaling up to 13,500 metric tons per year of lithium carbonate equivalent (“LCE”), which is a positive step towards establishing a diversified supply pipeline to support future refining operations.

●Raised $13.2 million in equity capital and secured up to $10.0 million in debt financing, supporting continued advancement of the Company’s lithium refinery.

●Strengthened senior leadership team with the appointments of Carlos Urquiaga, Kenneth Pitts and Bruce Czachor, adding deep experience across legal and regulatory matters, project development, capital markets and the global battery materials supply chain.

●Continued development and planning for the Muskogee lithium refinery, including engineering, feedstock sourcing and permitting milestones supporting the refinery’s progression toward a final investment decision.

Subsequent Events since Year-End 2025

●Received the final air quality construction permit from the Oklahoma Department of Environmental Quality for the Muskogee lithium refinery, positioning the project to advance toward construction and commissioning.

●Established a $10.0 million synthetic ATM equity facility with B. Riley Principal Capital II, providing flexible access to capital to support project advancement.

●Engaged Washington, D.C.– based 38 North Solutions to support federal government relations, policy engagement and funding initiatives related to domestic critical-minerals supply chains.

2025 Financial Highlights

● As of December 31, 2025, the Company had cash and cash equivalents of approximately $3.5 million and continued to deploy capital toward engineering, permitting and development activities for its planned Muskogee lithium refinery.

● For the year ended December 31, 2025 and December 31, 2024, the Company incurred a net loss of $15.7 million and $23.8 million, respectively. The improvement was primarily driven by lower financing charges and reduced general and administrative expenses compared to the prior year, which included costs associated with being a public company.

● Loss per share was $2.13 for the current year, compared to $5.55 for the prior year, the decrease being driven primarily by a decrease in finance charges for short term loans, lower general and administrative costs and an increase in outstanding share capital due to public offerings during the year.

● Net cash used

EX-99.1

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Exhibit 99.1

Stardust Power Announces Q3 2024 Financial Results

GREENWICH,

Conn., November 13, 2024 -- Stardust Power Inc. (“Stardust Power” or the “Company”) (Nasdaq: SDST), an American developer of battery-grade lithium products, today announced its results for the third quarter ended September 30, 2024.

Third Quarter Business Updates and Subsequent Events

Operational highlights for the third quarter of 2024 include:

●Completion of the business combination with Global Partner Acquisition Corp II and subsequent listing on the Nasdaq Global Market (“Nasdaq”).

●Strengthened senior management team with the appointment of Paramita Das as Chief Strategy Officer and Senior Advisor to the Chief Executive Officer and Adam Johnson as Chief Commercial Officer.

●Selection of Primero USA to complete a Front-End Loading-3 (FEL-3) engineering design and cost study for the centrally located lithium refinery in Muskogee, Oklahoma.

●Entered into a 90-day exclusivity period with KMX Technologies, Inc. (“KMX”) to negotiate the exclusive use of lithium brine concentration technology from KMX for use in the Stardust Power refining process in the United States and Canada, as well as certain other jurisdictions around the world.

●The Company entered into a common stock purchase agreement (the “Purchase Agreement”) with B. Riley Principal Capital II, LLC (“B. Riley”), with the Company having the right to sell up to $50,000,000 of newly issued shares to B. Riley, subject to certain conditions and limitations contained in the Purchase Agreement, from time to time during the term of the Purchase Agreement.

“We are thrilled to report our third quarter results and the strides we have made in advancing our strategic objectives since becoming a public company. Our team has executed on many critical milestones, as we move forward to reaching final investment decision and starting construction on one of the largest lithium refineries in the world. We’re excited for the upcoming quarters and the milestones we are working towards to create value for shareholders and stakeholders,” stated Roshan Pujari, Founder and Chief Executive Officer, Stardust Power.

Third Quarter Financial Highlights

As of September 30, 2024, we had cash and cash equivalents of approximately $1.6 million. As of September 30, 2024, we had zero long term debt. Other financial highlights include:

●Net Loss of $10.0 million for the three months ended September 30, 2024, compared to $0.8 million for the three months ended September 30, 2023, driven by higher administrative expenses in connection with being a public company, as well as to complement increased scope of operations.

●Loss per share was $(0.22) for the three months ended September 30, 2024, compared to $(0.02) for the three months ended September 30, 2023, driven by higher net loss

●Net cash used in operating activities totaled $8.5 million for the nine months ended September 30, 2024, compared to $1.6 million for the nine months ended September 30, 2023, driven by continued investment in operations and key talent and certain expenses related to the close of the business combination.

●Net cash used in investing activities was $1.3 million for the nine months ended September 30, 2024, compared to $Nil for the nine months ended September 30, 2023 driven by our initial capital investments made in the anticipated building of the refinery and promissory notes given to our partners.

●Net cash provided by financing activities was $10.1 million for the nine months ended September 30, 2024, compared to $2.5 million for the nine months ended September 30, 2023, driven by cash received from closing of the business combination including the private investment in public equity subscription agreement and convertible notes, net of transaction costs paid during the nine months ended September 30, 2024.

“We are pleased to announce our third-quarter 2024 results as we execute our strategy. We are excited about the opportunities ahead as we continue to scale our operations, while keeping an eye on being efficient with our resources” said Uday Devasper, Chief Financial Officer.

Conference Call Details

Stardust Power will host a conference call to discuss the results today, November 13, 2024, at 5:30pm EST. Participants may access the call by clicking the participant call link and ask questions: https://register.vevent.com/register/BI636e5a7167ac45fe86b733d151aba0af. Upon registering at the link you will receive the dial-in info and a unique PIN to join the call as well as an email confirmation with the details. You can also access the call via live audio webcast using the website link to listen in: https://edge.media-server.com/mmc/p/vd7zimt8.

The earnings call will be available on the Company website following the event.

About Stardust Power

Stardust Power is a developer of battery-grade lithium products designed to supply the electric vehicle (EV) industry and bolster America’s energy