IperionX Drives Towards Commercial Scale Titanium Metal Production; Co Has Received The First $2.4M Payment From The $12.7M Department Of Defense DPA Title III Grant To Fund Phase I Ramp-Up Of The Virginia Titanium Production Facility
Portfolio Pulse from Benzinga Newsdesk
IperionX is advancing towards commercial-scale titanium production with significant progress at its Virginia Titanium Manufacturing Campus. The company has received the first $2.4M from a $12.7M Department of Defense grant for the Phase I ramp-up. The HAMR titanium furnace, a key asset, has passed factory tests and is expected to be installed in Q2 2024, with titanium production starting mid-year. This initiative aims to revitalize the U.S. titanium supply chain, offering high-performance, low-cost titanium products with lower environmental impacts.
February 14, 2024 | 1:44 pm
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IperionX is progressing towards commercial-scale titanium production, supported by a $12.7M DoD grant, with its HAMR furnace set to start production in mid-2024.
The receipt of the first installment of the Department of Defense grant and the successful progress in the installation of the HAMR titanium furnace are significant milestones for IperionX. These developments not only de-risk the project but also position the company closer to achieving commercial-scale production. The focus on sustainability and cost-effectiveness in titanium production could attract interest from industries and investors, potentially driving up the stock price in the short term.
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