IperionX Receives Final $4.6M In DoW Funding and 290 Metric Tons of Titanium Scrap from U.S. Government

Core Insights - IperionX Limited has received the final US$4.6 million from the U.S. Department of War under a total award of US$47.1 million to enhance titanium production capacity to 1,400 metric tons per year [1][9] - The U.S. Government is transferring approximately 290 metric tons of high-quality titanium alloy scrap metal to IperionX, which is equivalent to about 1.5 years' worth of titanium feedstock at current operating capacity [2][9] - The IBAS program aims to strengthen U.S. defense supply chains by creating a resilient and low-cost titanium platform, reducing reliance on imports [3][9] Funding and Production Capacity - The final obligation of US$4.6 million follows previous funding tranches totaling US$42.5 million, which supported the procurement of titanium manufacturing equipment and the advancement of the Titan Critical Minerals Project in Tennessee [4][9] - IperionX's Titanium Manufacturing Campus in Virginia is set to scale up production to 1,400 metric tons per year, with planning and design activities already in progress [1][9] Strategic Importance - IperionX is positioned as a leading American company in titanium metal and critical materials, utilizing patented technologies to produce high-performance titanium alloys with lower energy and carbon emissions [5][6] - The company's titanium products are essential for various advanced U.S. industries, including aerospace, defense, automotive, and consumer electronics [6]