- IperionX’s commercial-scale HAMR titanium furnace has been
delivered and successfully installed at the new Titanium
Manufacturing Campus in Virginia
- The HAMR titanium furnace is similar in scale to a standard
Kroll titanium furnace, and underpins competitive advantages of
lower operating temperatures, higher efficiencies, shorter
production cycle times, and higher product qualities
- Construction and development of IperionX’s Titanium
Manufacturing Campus is advancing to schedule, with commissioning
of the HAMR titanium furnace scheduled for Q2 2024, and first
titanium powder expected in mid-2024
- IperionX’s portfolio of patented titanium technologies can
manufacture titanium powders, semi-finished titanium products,
near-net shape forged titanium products and additively manufactured
titanium components - with superior energy efficiency, lower costs
and lower environmental impacts
- IperionX is leading the development of an innovative ‘end to
end’ U.S. titanium supply chain that will use scrap titanium and
U.S. sourced titanium minerals to manufacture high-performance
titanium products for advanced industries
IperionX Limited (NASDAQ: IPX, ASX: IPX) is pleased to
announce a significant milestone in the development of
commercial-scale titanium metal manufacturing capabilities at the
Titanium Manufacturing Campus in Virginia.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240426726200/en/
Figure 1: HAMR Titanium Furnace at the
IperionX Titanium Production Facility (Photo: Business Wire)
The Hydrogen Assisted Metallothermic Reduction (HAMR TM)
titanium furnace has been delivered and successfully installed,
with first energization and commissioning on track to commence in
Q2 2024.
The advanced HAMR furnace is similar in scale to a traditional
single-unit Kroll titanium furnace, and enhances IperionX’s
manufacturing capabilities with numerous competitive advantages.
These include lower operating temperatures, increased efficiencies,
shorter production cycles, and higher product qualities.
These manufacturing advancements are supported by IperionX's
portfolio of patented technologies that can produce titanium
powders, semi-finished titanium products, near-net shape forged
titanium products, and additively manufactured titanium components.
These leading technologies can manufacture high-performance
titanium products with superior energy efficiency, lower costs, and
lower environmental impacts.
The full development of IperionX’s Titanium Manufacturing Campus
is advancing to plan, with first deoxygenation production of
titanium powder scheduled to commence in mid-2024. Full run rate
target capacity of at least 125 metric tons per year is anticipated
for the end of 2024, which is expected to scale-up to full target
production capacity of 2,000 metric tons per year in 2026.
Anastasios (Taso) Arima, IperionX CEO said:
“The deployment of our advanced HAMR titanium furnace at the
Virginia facility is another crucial step to re-shore a full ‘end
to end’ titanium supply chain within the United States.
This furnace has a similar capacity to existing furnaces used in
the incumbent industry’s Kroll process, but with far less energy
consumption and lower complexity to unlock a range of higher value
manufactured titanium products. The successful commissioning and
production from this furnace is the cornerstone for a
transformation of the U.S. titanium industry to manufacture
high-performance, low cost titanium alloys for advanced American
industries.”
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 one of the largest
mineral resources 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 space, aerospace, defense,
consumer electronics, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240426726200/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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