IperionX Receives $12.7M DOD Funding to Boost Titanium Powder Production
Titanium Powder Vital To Defense Supply Chains
IperionX, a Charlotte-based company specializing in titanium powder production, has been awarded $12.7 million in funding from the Department of Defense (DOD) as part of the Defense Production Act Investment (DPAI) program. The funding aims to enhance the nation's industrial base by investing in critical industries, according to the DOD's announcement on Monday.
Titanium powder is a vital component in the manufacturing of titanium alloys, which find extensive use in various defense applications, including aircraft, spacecraft, and missiles. Currently, the DOD heavily relies on foreign suppliers for a significant portion of its titanium powder needs. However, the DPAI program seeks to bolster domestic production and reduce dependence on foreign sources.
IperionX, with its innovative approach to titanium powder production, plans to leverage the funding to expand its facility in Halifax County, Virginia, and transform it into a demonstration plant. The company's ambitious goal is to produce 10,000 metric tons of titanium metal powder annually within the next five years.
The investment from the DOD will enable IperionX to scale up its operations, significantly increasing titanium powder production to 125 metric tons per year. This expansion will not only help meet the growing demand for this critical material but also enhance the nation's defense supply chains.
Since the beginning of 2023, the DPAI program has awarded a total of $674 million across 21 projects. The program falls under the purview of the Office of the Deputy Assistant Secretary of Defense for Industrial Base Resilience, specifically the Manufacturing Capability Expansion and Investment Program, which oversees the DPAI program.
The DOD's investment in IperionX underscores the government's commitment to bolstering domestic production capabilities and strengthening the nation's industrial base. By reducing reliance on foreign suppliers, the DPAI program aims to enhance national security and ensure a stable supply chain for critical defense applications.
As the DOD continues to invest in critical industries, such as titanium powder production, the nation's defense supply chains will become more resilient and less vulnerable to disruptions caused by geopolitical tensions or supply chain disruptions. IperionX's innovative approach to titanium powder production, coupled with the DOD's funding, will play a crucial role in achieving these objectives.
With the commissioning of the demonstration plant in Halifax County, Virginia, IperionX is poised to make significant contributions to the domestic production of titanium powder. By increasing production capacity and reducing reliance on foreign sources, IperionX and the DOD's partnership will strengthen the nation's defense capabilities and pave the way for a more secure future.