IperionX receives $25M to accelerate U.S. titanium production

IperionX receives $25M to accelerate U.S. titanium production

IperionX (NASDAQ: IPX, ASX: IPX) received an additional $25 million from the U.S. Department of War to accelerate titanium production at its Virginia manufacturing campus. The funding, part of the Industrial Base Analysis and Sustainment program, aims to build a resilient, low-cost domestic titanium supply chain and reduce U.S. import reliance. This latest $25 million tranche brings total obligations to $42.5 million under a previously awarded $47.1 million contract, following prior funding for long-lead manufacturing equipment. The funds will be directly applied to scaling production and advanced manufacturing capacity at the Virginia campus, targeting an output of up to 1,400 metric tons per year. According to the announcement, a remaining US$4.6 million is expected to be obligated by the Department of War over the remainder of the contract term.

The funding, part of the Industrial Base Analysis and Sustainment program, aims to build a resilient, low-cost domestic titanium supply chain and reduce U.S. import reliance.

This latest $25 million tranche brings total obligations to $42.5 million under a previously awarded $47.1 million contract, following prior funding for long-lead manufacturing equipment.

The funds will be directly applied to scaling production and advanced manufacturing capacity at the Virginia campus, targeting an output of up to 1,400 metric tons per year.

According to the announcement, a remaining US$4.6 million is expected to be obligated by the Department of War over the remainder of the contract term.