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A New SPAC is Set to Bring Lithium Refining to America

November 26, 2023
x min read

A new SPAC deal might lay the groundwork for the future of lithium refining in America.

What’s happening:

  • New York based lithium refiner Stardust Power has entered into a deal to go public via a SPAC with Global Partner Acquisition Corp II
  • The SPAC deal is valued at approximately $490M USD

Going deeper:

  • Stardust Power is aiming to build one of the largest lithium refineries based in the United States to produce battery grade lithium for electric vehicles
  • Most lithium refining currently takes place outside of the United States, with much of the world’s supply of refined lithium coming from China

By the numbers:

  • Stardust plans to open their facility in Tulsa, Oklahoma on a 66 acre property
  • They aim to produce 50,000 metric tonnes of battery grade lithium from that facility per year
  • Currently, China controls about 90% of the world’s lithium refining capacity

The intrigue:

  • Stardust Power is owned by VIKASA Capital, a private American holding company focused on accelerating the energy transition

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