IperionX (NASDAQ: IPX, ASX: IPX) is pleased to announce
the successful commissioning of the Hydrogen Assisted
Metallothermic Reduction (HAMRTM) furnace, marking the first
titanium de-oxygenation production run at the Titanium
Manufacturing Campus in Virginia, U.S.A.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240812973672/en/
IperionX HAMR first furnace production
cycle (Photo: Business Wire)
This first titanium de-oxygenation production run represents a
key technological milestone for IperionX that underpins a
breakthrough +60x increase in titanium production capacity.
Produced entirely from 100% scrap titanium (Ti-6Al-4V alloy,
Grade 5 titanium), quality assessments confirmed a large reduction
in oxygen levels from 3.42% to below 0.07%, far exceeding the ASTM
standard requirement of 0.2% for Grade 5 titanium.
IperionX's proprietary HAMR technologies offer a range of
competitive advantages, including lower operating temperatures,
reduced energy consumption, enhanced process efficiency, and
accelerated production cycles - all achieved with lower capital
investment intensity.
Over the coming months, IperionX will commission and optimize
the supporting process equipment to achieve full system production
capacity in Virginia, with end-to-end system operations expected in
late Q4 2024.
Anastasios (Taso) Arima, CEO of IperionX, commented:
“The IperionX team delivered an important technological and
commercial milestone for the global titanium industry.
Over the last two years, we have successfully operated our pilot
titanium production facility in Utah, producing high performance
titanium products for customers and importantly - delivering first
revenues for our company.
Today, we demonstrated that our HAMR technology works at
commercial scale. We successfully increased the furnace production
capacity by ~60x times and produced high performance titanium that
exceeds industry quality standards.
IperionX’s patented technologies underpin long-term competitive
advantages over the Kroll titanium production process - with lower
energy consumption, lower capex, faster cycle times, higher product
yields and the ability to utilize 100% scrap titanium or upgraded
titanium minerals as feedstocks.
IperionX plans to expand the capacity of its Titanium
Manufacturing Campus by adding modular, low-risk and low-cost HAMR
furnaces. IperionX aims to be a leading U.S. titanium producer of
+10,000 metric tons per annum by 2030.
Our goal is to re-shore the full titanium supply chain to the
United States, at lower costs for our customers, and deliver the
most sustainable titanium products on the market.”
About IperionX
IperionX aims to become a leading American titanium metal and
critical materials company – using patented metal technologies to
produce high performance titanium alloys, from titanium minerals or
scrap titanium, at lower energy, cost and carbon emissions.
Our Titan critical minerals project is the largest
JORC-compliant mineral resource of titanium, rare earth and zircon
minerals sands in the United States.
IperionX’s titanium metal and critical minerals are essential
for advanced U.S. industries including consumer electronics, space,
aerospace, defense, hydrogen, electric vehicles and additive
manufacturing.
Forward Looking Statements Information included in this
release constitutes forward-looking statements. Often, but not
always, forward looking statements can generally be identified by
the use of forward-looking words such as “may”, “will”, “expect”,
“intend”, “plan”, “estimate”, “anticipate”, “continue”, and
“guidance”, or other similar words and may include, without
limitation, statements regarding plans, strategies and objectives
of management, anticipated production or construction commencement
dates and expected costs or production outputs.
Forward looking statements inherently involve known and unknown
risks, uncertainties and other factors that may cause the Company’s
actual results, performance, and achievements to differ materially
from any future results, performance, or achievements. Relevant
factors may include, but are not limited to, changes in commodity
prices, foreign exchange fluctuations and general economic
conditions, increased costs and demand for production inputs, the
speculative nature of exploration and project development,
including the risks of obtaining necessary licenses and permits and
diminishing quantities or grades of reserves, the Company’s ability
to comply with the relevant contractual terms to access the
technologies, commercially scale its closed-loop titanium
production processes, or protect its intellectual property rights,
political and social risks, changes to the regulatory framework
within which the Company operates or may in the future operate,
environmental conditions including extreme weather conditions,
recruitment and retention of personnel, industrial relations issues
and litigation.
Forward looking statements are based on the Company and its
management’s good faith assumptions relating to the financial,
market, regulatory and other relevant environments that will exist
and affect the Company’s business and operations in the future. The
Company does not give any assurance that the assumptions on which
forward looking statements are based will prove to be correct, or
that the Company’s business or operations will not be affected in
any material manner by these or other factors not foreseen or
foreseeable by the Company or management or beyond the Company’s
control.
Although the Company attempts and has attempted to identify
factors that would cause actual actions, events or results to
differ materially from those disclosed in forward looking
statements, there may be other factors that could cause actual
results, performance, achievements, or events not to be as
anticipated, estimated or intended, and many events are beyond the
reasonable control of the Company. Accordingly, readers are
cautioned not to place undue reliance on forward looking
statements. Forward looking statements in these materials speak
only at the date of issue. Subject to any continuing obligations
under applicable law or any relevant stock exchange listing rules,
in providing this information the Company does not undertake any
obligation to publicly update or revise any of the forward-looking
statements or to advise of any change in events, conditions or
circumstances on which any such statement is based.
Competent Persons Statement The information in this
announcement that relates to Exploration Results and Mineral
Resources is extracted from IperionX’s ASX Announcement dated
October 6, 2021 (“Original ASX Announcement”) which is available to
view at IperionX’s website at www.iperionx.com. IperionX confirms
that a) it is not aware of any new information or data that
materially affects the information included in the Original ASX
Announcement; b) all material assumptions and technical parameters
underpinning the Mineral Resource Estimate included in the Original
ASX Announcement continue to apply and have not materially changed;
and c) the form and context in which the relevant Competent
Persons’ findings are presented in this report have not been
materially changed from the Original ASX Announcement.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240812973672/en/
Anastasios (Taso) Arima, Founder and CEO Toby Symonds, President
Dominic Allen, Chief Commercial Officer
Investors: investorrelations@iperionx.com Media:
media@iperionx.com +1 980 237 8900
www.iperionx.com
IperionX (NASDAQ:IPX)
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