Stardust Power gains on substation deal with Oklahoma Gas and Electric

Shares of Stardust Power SDST.O up 10% at 55 cents premarket

Company partners with Oklahoma Gas and Electric Company (OG&E) to develop an electric substation on SDST's site of proposed lithium refinery in Oklahoma

Cost of engineering, procurement, and construction of the substation will be paid for by a long-term usage commitment by SDST at the facility

Adds, the site currently can provide construction power, but the new substation will provide operating power for the facility

OG&E will support power load requirements up to 40 Megawatts

As of last close, company's shares down 86% YTD