IperionX Receives $12.5M U.S. Government Funding to Accelerate Expansion of U.S. Titanium Production

Core Insights - The U.S. Department of Defense has obligated US$12.5 million to IperionX as part of a US$47.1 million award aimed at enhancing the U.S. Defense Industrial Base by scaling up a resilient titanium supply chain [1][5] - The funding will be utilized for long-lead capital equipment necessary for increasing production capacity to over 1,000 metric tons per year at the Virginia Titanium Manufacturing Campus [3][6] - The project scope has been revised to prioritize the expansion of titanium metal production capacity in response to the strategic need for domestic titanium components [2] Funding and Project Details - The total funding obligations received under the DoD award now amount to US$17.5 million, with an additional US$29.6 million expected to be obligated over the contract term [5] - The US$12.5 million will support the purchase of equipment for titanium deoxygenation, sintering, powder metallurgy, and ancillary infrastructure upgrades [3] - Previous funding of US$5 million was allocated to advance the Titan Critical Minerals Project in Tennessee, which is on track for a definitive feasibility study completion in the first half of 2026 [4] Company Strategy and Vision - IperionX aims to secure long-lead capital equipment and manufacturing slots with key suppliers to accelerate its expansion plans [6] - The company is executing a multi-phase modular scale-up in titanium production, which is seen as a strong endorsement of its technology and mission to reshore a resilient titanium supply chain in the U.S. [7] - IperionX is recognized as a leading American titanium metal and critical materials company, focusing on producing high-performance titanium alloys with lower energy and carbon emissions [7][8]