HOUSTON, (ARGUS) July 1 - The US Department of Defense has awarded IperionX, a titanium metal producer based in North Carolina, a maximum of $6.6 million in funding for a production project of titanium plates and related components for military use.
The company, headquartered in North Carolina, announced on Wednesday that the funding will be disbursed in two phases: the company can receive $200,000 initially for project planning and experimental research and development; if the project meets the requirements, the remaining funds will be available to purchase new equipment and expand the production capacity of its Virginia-based plant. IperionX plans to complete all the construction work of the two phases within two years.
IperionX stated that this funding was provided by the US Secretary of Defense's Submarine Manpower and Industrial Base Special Program and is part of the US Department of Defense's overall initiative to promote the localization of titanium manufacturing in the country.
Earlier this year, the company expanded its research and development center in Utah and added equipment for the verification of titanium plate production processes. IperionX uses a combined process of sintering and additive manufacturing to produce near-net-shape components and intermediate products from waste-based titanium powder.
In addition, IperionX has received an order for the prototype of titanium fasteners for the US Joint Light Tactical Vehicle. The company stated that the order amount is low and does not have disclosure value, but if the prototype project passes the performance verification, the related titanium fasteners are expected to be widely used in various ground military vehicles of the US Army.
