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IperionX Awarded Up to About $7 Million by US Department of War for Titanium Manufacturing Expansion

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IperionX (ASX:IPX) said it has been awarded up to $6.6 million under a US Department of War program funded by the Office of the Secretary of War Submarine Workforce and Industrial Base, according to a Wednesday Australian bourse filing.

The award supports expanded manufacturing capability for large-format military titanium components at its Titanium Manufacturing Campus in Virginia.

The company said the award forms part of a larger, multi-organization program to scale production of high-performance titanium alloy products, including ballistic-grade titanium plate, for land and maritime defense platforms.

IperionX has also received an additional purchase order from the US Army Ground Vehicle Systems Center to manufacture a range of titanium fasteners for the Joint Light Tactical Vehicle in support of US Army and Marine Corps operational requirements, it added.

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