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Investing.com -- Stardust Power Inc (NASDAQ:SDST) shares continued their upward trajectory, climbing 2.7% in premarket trade Tuesday, following the company’s announcement of an exclusive licensing agreement with KMX Technologies. The stock gained 9.3% on Monday.
The agreement, finalized after its initial announcement on October 8, 2024, grants Stardust Power the exclusive rights to utilize KMX’s vacuum membrane distillation (VMD) technology for lithium extraction and concentration in the United States, Canada, and select international markets.
This strategic move is aimed at enhancing the efficiency and sustainability of lithium production, a critical component for the burgeoning electric vehicle (EV) and renewable energy sectors.
Stardust Power’s CEO, Roshan Pujari, emphasized the importance of the partnership with KMX Technologies, stating that the VMD technology will significantly reduce energy and water use in the company’s supply chain.
By concentrating lithium feedstocks, Stardust Power expects to lower operating costs and strengthen the U.S. critical mineral supply chain, thus enhancing national security in an environmentally responsible way.
KMX’s VMD technology not only promises to concentrate lithium from brine sources with minimal losses, thereby improving the economic viability of lithium projects, but it also produces high-quality water as a byproduct.
Stardust Power is an Oklahoma-based company focused on developing battery-grade lithium products.