IperionX awarded major US DoD contract for supply of low-cost titanium components
Critical minerals company IperionX (ASX: IPX) has won a contract from the US Department of Defense to supply low-cost titanium components for project-specific defence applications.
The company received a five-year Small Business Innovation Research (SBIR) Phase III grant capped at US$99 million, which establishes a funding mechanism through which qualifying US government agencies can place task orders.
SBIR Phase III contracts are awarded to technologies that are ready to transition from research and development into scaled production for US government use.
Strategic components
IperionX expects to start initial titanium manufacturing and supply projects at its Titanium Manufacturing Campus in Virginia over the coming months, including titanium fasteners produced using patented and advanced forging technologies.
Chief executive officer Anastasios Arima said the “indefinite delivery, indefinite quantity” award recognised the company’s readiness to deliver strategic titanium components for US defence applications.
“Securing this contract is a pivotal milestone for us as it validates the performance of our technologies and underscores the US government’s commitment to reshore an all-American titanium supply chain,” he said.
“We look forward to delivering mission-critical components that are lighter, stronger and more cost-effective while reducing reliance on international suppliers.”
Patented technologies
IperionX uses patented metal technologies to produce high-performance titanium alloys from minerals or scrap metal consuming less energy at a lower cost and with fewer carbon emissions.
The critical minerals are essential for advanced US industries including space, aerospace, defence, consumer electronics, hydrogen, automotive and additive manufacturing.
The company also recently commenced a definitive feasibility study for its Titan critical minerals project in Tennessee—the largest US mineral resource of titanium, rare earth and zircon mineral sands.
The Titan project is uniquely positioned to supply low-cost, domestic critical mineral feedstock to support future large-scale expansions of the company’s titanium production, thereby enhancing the strength and resilience of the US titanium supply chain.