IperionX Receives $25M to Accelerate Titanium Production
Iperion X has received $25 million from the U.S. Department of War to support the build-out of a resilient, fully integrated, and low-cost titanium supply chain. The funds will be applied to the scale-up of production to 1,400 tpa at IperionX’s Titanium Manufacturing Campus in Virginia.
The award has come through the Industrial Base Analysis and Sustainment (IBAS) program and is part of a $42.5 million obligation expected to be granted over time. The IBAS program is designed to reinforce U.S. defense supply chains mineral-to-metal titanium that reduces reliance on imports and establishes a secure, uninterruptible domestic source of critical materials.
This latest obligation follows prior tranches of $12.5 million and $5 million, which funded long-lead items for titanium manufacturing equipment and to advance the Titan Critical Minerals Project in Tennessee.
IperionX is an American titanium metal and critical materials company that uses patented metal technologies to produce high performance titanium alloys, from titanium minerals or scrap titanium, at lower energy, cost and carbon emissions. Their Titan critical minerals project is the largest JORC-compliant mineral resource of titanium, rare earth, and zircon minerals sands in the United States. Titanium metal and critical minerals are essential for advanced U.S. industries including space, aerospace, defense, consumer electronics, hydrogen, automotive and additive manufacturing.
Press release is available in its original form here.
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