[Music] welcome to CEO insights I'm Marilyn De Guzman with investing news.com I'm speaking with Roshan pujari founder and CEO of Stardust power a NASDAQ listed developer and producer of battery grade lithium in the US nice to see you again rosan thanks for having me Marilyn great to see you today yeah so for those not familiar with Stardust power could you provide an overview of the company and what you're building happy to so Stardust power is an American developer of battery grade lithium products


designed to Foster energy Security in the United States as many of us know battery grade lithium is an essential component of all the batteries that make them go from EVS to handheld electronics and that the military has become so accustomed to use and what a lot of people might not know is that America produces and manufacturers very little of this battery grade lithium most of it is done overseas most of it is done in China so at Stardust power we're building a really large centrally located lithium Refinery um in the


Heartland in Oklahoma that will be capable of producing up to 50,000 tons perom of battery grade lithium carbonate um to supply American Energy Independence now Stardust uh Power recently filed an NK announcement mentioning sumitu Corporation could you tell us more about this and why this matters to investors and the company yeah thanks for asking the question you know um the we we recently filed our AK saying that we have formed a non-binding letter agreement with sumomo Corporation here in New York and for the offtake of


up to 20,000 tons per anom of battery grade lithium carbonate this would represent 40% of our total capacity and 80% of line one and this is a huge milestone for our company having an oft partner such as sumomo a very credible and prestigious organization and they can provide a lot of value ad other than just acquiring the product and they can help with our marketing efforts they could potentially off sour offtake a technical great lithium as we ramp up um our production so they're a great value


ad partner through the entire supply chain and we're really proud to work with them yeah that's certainly building some momentum what other uh catalysts are coming from the company that invest should look forward to we we've been busy you know a couple of weeks ago we had our groundbreaking which was a wonderful event at our site in Mogi Oklahoma well attended by the lieutenant governor of Oklahoma the mayor and former mayor of Mogi as well as many business and Civic leaders and really


exciting to get those shovels in the ground but it underlied the tremendous Community Support we are receiving in Oklahoma and generally within the state of Oklahoma so that that was another critical Milestone we are permitted for the start of major construction we own our site we have Supply we have off take and next we'll be finishing our fell level three engineering study um which is really the last large gating item from an engineering perspective to start major construction and so we are moving


the project forward in really quick time and we're excited to start major construction later this year wonderful we'll leave it at that thanks again Roshan for taking the time to speak with me great thanks for having me Marilyn and thanks everyone for watching join us again next time for another edition of CEO insights [Music]