IperionX Limited (NASDAQ: IPX, ASX: IPX) is proud to announce its recent agreement with Lockheed Martin (NYSE: LMT) for the delivery of titanium plate components. These components are uniquely produced using IperionX’s U.S. manufactured titanium.
Brian Rosenberger, Lockheed Martin senior fellow for Additive Manufacturing Processes and Materials, commented on the partnership, “Reducing the cost of titanium components will mean broader use of this material to increase the performance of our products. With this order, Lockheed Martin will perform an initial evaluation of the material quality and mechanical performance of IperionX’s titanium plate material.”
The components destined for Lockheed Martin will be crafted using powder metallurgy production methods combined with IperionX’s state-of-the-art titanium angular powder. To further enhance the quality, IperionX will incorporate its patented Hydrogen Sintering and Phase Transformation (HSPT) technologies. This innovative technique refines the microstructure of titanium parts, ensuring strength and fatigue properties on par with wrought titanium alloys.
Titanium's exceptional strength-to-weight ratio, high-temperature resistance, and anti-corrosion properties make it indispensable for numerous U.S. defense systems. These include military fighter aircraft, engines, munition and weapon components, naval platforms, and military ground vehicles. Lockheed Martin extensively utilizes titanium alloys for vital structures and components across its diverse product range.
Despite titanium's significance, the U.S. has limited domestic primary titanium metal capacity, leading to over 95% of titanium sponge imports for the defense sector. IperionX aims to shift titanium metal production back to the U.S., minimizing dependence on foreign imports and fortifying the domestic titanium supply chain for pivotal defense systems.
Historically, titanium production has remained unchanged since the 1940s with the inception of the 'Kroll Process'. This method is not only energy-intensive and costly but also results in substantial greenhouse gas emissions. In stark contrast, IperionX’s titanium production technologies are more energy-efficient, cost-effective, and produce zero Scope 1 and 2 emissions.
Anastasios (Taso) Arima, IperionX CEO, shared his enthusiasm about the collaboration, stating, “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.”
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.