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CHARLOTTE, N.C., July 23, 2025 (GLOBE NEWSWIRE) — IperionX Limited (IperionX) (NASDAQ: IPX, ASX: IPX) is pleased to present its quarterly report for the period ending June 30, 2025. Key highlights during and subsequent to the end of the quarter include:
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Commercial operations: production online and commissioning of all major equipment complete
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- Successful commissioning of the Titanium Manufacturing Campus in Virginia, with all major scrap-to-forged titanium manufacturing equipment now online and proven to meet operational capacity.
- Repeated back-to-back production cycles of the Hydrogen Assisted Metallothermic Reduction (HAMRTM) furnace continue to produce high-quality titanium that exceeds industry standards.
- Commissioning-phase process improvements have reinforced the low-capex modular scalability of the HAMR process and underscore strong potential to surpass original nameplate titanium powder production. Higher throughput capacities will be confirmed in the coming weeks.
- Commissioning of powder metallurgy and Hydrogen Sintering & Phase Transformation (HSPTTM) forging systems are complete, underpinning production of near-net-shape and forged titanium components.
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Strong momentum across commercial and strategic customer partnerships
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- Customer activities accelerated during the quarter with increasing engagement across automotive, defense and aerospace, with a range of customers completing inspection and pre-qualification visits to the Titanium Manufacturing Campus in Virginia.
- Consumer-electronics scrap processing commenced, validating circular supply chain from recycled titanium feedstock to manufactured forged titanium parts, as announced in collaboration with ELG Utica on July 3, 2024.
- New verticals opening across mass industrial titanium manufacturing, where material manufacturing waste is typically high — including the production of titanium fasteners. These efforts are opening up new sales channels across aerospace, commercial, military, and large-scale commercial markets.
- IperionX is building a pipeline of partnerships with global manufacturers seeking to transition to low-cost, sustainable, circular, and traceable titanium supply chains.
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U.S. Government backing to secure a low-cost domestic titanium supply chain
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- IperionX received a Small Business Innovation Research (SBIR) Phase III Indefinite Delivery, Indefinite Quantity (IDIQ) contract allowing task order funding from U.S. Department of Defense (DoD) agencies up to a total of US$99 million.
- First task order awarded under the SBIR IDIQ contract to expedite the production and delivery of titanium parts for U.S. Army ground vehicle programs.
- The SBIR Phase III contract and task order are in addition to the US$47.1 million in DoD funding awarded to IperionX in the prior quarter to accelerate development of a secure, low-cost, mineral-to-metal titanium supply chain.
- IperionX continues to progress its long-term, tax-exempt bond financing through Virginia’s Halifax County Industrial Development Authority to underpin future titanium production expansions.
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Titanium production expansion plans fast-tracked
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- Strong customer momentum and U.S. Government funding commitments driving accelerated titanium production scale-up.
- Subsequent to the end of the quarter, on July 23, 2025, IperionX announced a private placement to raise approximately US$46 million.
- IperionX intends to use proceeds from the private placement to fast-track ordering of long-lead HAMR and HSPT modules, plus parallel expansion of forging capacity to meet 2026-2027 production schedules.
- Modular, low-capex design allows accelerated production growth phases through 2030.
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