IperionX wins $9.5m in US government funding to scale titanium manufacturing
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The news: Critical minerals company IperionX has been awarded up to USD6.6 million ($9.5 million) under a US Department of War program, which will support domestic production of ballistic-grade titanium plate and large-format military titanium components.
The context: The award forms part of a larger, multi-organisation program to scale production of high-performance titanium alloy products for land and maritime defence platforms.
Dual-listed IperionX will use the funding to support capital equipment at its titanium manufacturing campus in Virginia.
The program will be completed in two phases, with the first phase granting USD200,000 for project scoping and test work. Once completed, IperionX is expected to receive a further USD6.4 million to scale manufacturing capacity and purchase capital equipment.
What they said: “This award is an important validation of IperionX’s strategy to scale high-performance titanium manufacturing capacity in the United States,” said IperionX CEO Taso Arima.
“Our objective is to shorten the conventional titanium production chain, reduce supply-chain complexity and build a more resilient, lower-cost US titanium supply chain for defense, aerospace and advanced manufacturing customers.”
The source: ASX
