IperionX Limited (NASDAQ: IPX, ASX: IPX) has agreed to an
order with Lockheed Martin (NYSE: LMT) for the delivery of titanium
plate components produced using IperionX’s U.S. manufactured
titanium.
IperionX’s advanced titanium production technologies have the
potential to provide a lower cost and more sustainable U.S.
domestic supply chain for titanium raw material.
“Reducing the cost of titanium components will mean broader use
of this material to increase the performance of our products,”
said Brian Rosenberger, Lockheed Martin senior fellow for
Additive Manufacturing Processes and Materials. “With this
order, Lockheed Martin will perform an initial evaluation of the
material quality and mechanical performance of IperionX’s titanium
plate material.”
The titanium plate components for Lockheed Martin will be
manufactured with powder metallurgy production methods and
IperionX’s advanced titanium angular powder. To deliver higher
performance and durability, IperionX will also employ its patented
Hydrogen Sintering and Phase Transformation (HSPT) technologies, a
cutting-edge technique to enhance the microstructure of titanium
parts to deliver strength and fatigue properties that are
comparable to wrought titanium alloys.
Titanium is prized for its high strength-to-weight ratio,
resistance to high temperatures and corrosion. Titanium is a
critical material for many U.S. defense systems, including military
fighter aircraft and engines, munition and weapon components, naval
platforms and military ground vehicles. Lockheed Martin makes heavy
use of titanium alloys for critical structures and other key
components across the breadth of its products for air, land, sea,
and space.
The United States has very limited domestic primary titanium
metal (titanium sponge) capacity, resulting in the U.S. importing
over 95% of the titanium sponge required for the U.S. defense
sector. IperionX plans to re-shore titanium metal production to the
U.S., reduce the acute reliance on titanium imports from foreign
nations, and strengthen the domestic titanium supply chain for
critical defense systems.
Titanium has been mass produced in the same way since the 1940’s
when the existing ‘Kroll Process’ was developed. The Kroll Process
is energy intensive, high cost and produces high levels of
greenhouse gas emissions. In contrast, IperionX’s titanium
production technologies use less energy to produce high-strength
titanium, at lower costs, with zero Scope 1 and 2 emissions.
Anastasios (Taso) Arima, IperionX CEO said:
“This collaboration with Lockheed Martin is another important
milestone towards the rapid commercialization of IperionX’s
breakthrough low-carbon titanium technologies. These patented
technologies can either use titanium minerals or titanium scrap
metal as feedstock to manufacture high quality titanium products at
significantly lower cost and carbon footprint than existing
production processes.”
About IperionX
IperionX’s mission is to be the leading developer of low carbon
titanium for advanced industries including space, aerospace,
electric vehicles and 3D printing. IperionX holds an exclusive
option to acquire breakthrough titanium technologies that can
produce titanium products that are low carbon and fully circular.
IperionX is producing titanium metal powders from titanium scrap at
its operational pilot facility in Utah, and intends to scale
production at a Titanium Demonstration Facility in Virginia.
IperionX holds a 100% interest in the Titan Project, which has the
largest JORC-compliant resource of titanium, rare earth and zircon
rich mineral sands in the U.S.A.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin Corporation
is a global security and aerospace company that employs
approximately 116,000 people worldwide and is principally engaged
in the research, design, development, manufacture, integration and
sustainment of advanced technology systems, products and
services.
About HSPT
Hydrogen Sintering and Phase Transformation (HSPT) is a
proprietary technology that forms part of IperionX’s extensive
titanium technologies patent portfolio. The HSPT process was
developed as a low-cost titanium powder metallurgy process to
produce high performance titanium alloys with wrought-like
microstructures and mechanical properties.
Zhigang Zak Fang, James D. Paramore, Pei Sun, K. S. Ravi
Chandran, Ying Zhang, Yang Xia, Fei Cao, Mark Koopman & Michael
Free (2018) Powder metallurgy of titanium – Past, present, and
future, International Materials Reviews, 63:7, 407-459, DOI:
10.1080/09506608.2017.1366003
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version on businesswire.com: https://www.businesswire.com/news/home/20230817114295/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
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