How did Stardust Power's expenses surge in Q3 2024?

Stardust Power's expenses surged in Q3 2024 due to **Increased Infrastructure Costs**. The company's expenses increased significantly, primarily due to the costs associated with the construction of an electric substation. This substation was built in partnership with Oklahoma Gas and Electric Company (OG&E) to support the development of a lithium refinery in Muskogee, Oklahoma. 1. **Substation Construction Costs**: The cost of engineering, procurement, and construction for the substation was covered through a long-term power usage commitment from Stardust Power. This commitment was a key part of the agreement with OG&E, ensuring that Stardust Power would have the necessary reliable and scalable electricity to power its lithium refinery. 2. **Long-Term Impact**: The substation is essential for supplying power to the lithium refinery, which is a critical component of Stardust Power's operations. The long-term nature of the commitment means that these infrastructure costs will have a sustained impact on the company's expense structure. In summary, Stardust Power's expenses surged in Q3 2024 primarily due to the significant upfront costs associated with the construction of the electric substation. This investment is crucial for the company's future operations and growth in the lithium refining sector.