Highlights:
- Second U.S. Army task order under SBIR Phase III contract: Task Order 2 issued under IperionX’s existing US$99 million SBIR Phase III contract for Low-Cost, Domestic Titanium for Defense Applications.
- US$11.5 million obligated, up to US$25.4 million potential value: Current funding fully covers three priority industrialization work packages and provides an initial allotment to a fourth. Unexercised and unfunded options could increase Task Order 2’s value to a maximum of US$25.4 million.
- Industrial-scale American titanium capacity: The program advances integrated titanium powder-to-finished-component operations, with continuous HSPT™ and dehydride furnace capacity, together with equipment that will bring titanium fastener finishing fully in-house at IperionX’s Virginia facility.
- Continuous titanium powder-to-part manufacturing platform: Continuous HSPT™ processing is the downstream complement to GenX™, IperionX’s next-generation continuous HAMR™ titanium production platform. Together, the technologies are designed to increase throughput and reduce unit costs from titanium powder through to finished titanium components for the U.S. defense sector.
- Expanded U.S. defense manufacturing capability: Manufacturing program for titanium track pins, bolts and fasteners for defense applications, with inspection and acceptance planned at Detroit Arsenal and Army Research Laboratory’s Aberdeen Proving Ground.
- Potential expansion into aerospace and refractory alloys: Future option line items could extend IperionX’s patented technologies into an aerospace-grade titanium component program with a leading global aerospace and defense supplier, C103 alloy scrap recycling for a large advanced materials company, and spherical niobium and C103 powder development with Global Advanced Metals.
- August 31, 2026. IperionX Limited (NASDAQ: IPX; ASX: IPX) (IperionX or the Company) announces that the U.S. Army has awarded Task Order 2 under the Small Business Innovation Research (SBIR) Phase III Indefinite Delivery, Indefinite Quantity (IDIQ) contract for Low-Cost, Domestic Titanium for Defense Applications.
IperionX’s SBIR Phase III IDIQ contract enables qualifying U.S. Government agencies to place project-specific orders collectively capped at US$99 million (refer to details in the release dated June 5, 2025 “IperionX Awarded U.S. DoD SBIR Contract for up to US$99M”). Task Orders 1 and 2 have an aggregate stated value of approximately US$19.8 million, with US$79.2 million remaining available under the IDIQ contract ceiling.
Task Order W911QX26FA097 is firm-fixed-price and has a stated base value of US$18.5 million. Of this amount, US$11.5 million is currently funded and obligated. A further US$6.9 million of unexercised and unfunded options could increase the maximum potential task order value to US$25.4 million if exercised and funded at the U.S. Government’s discretion.
The SBIR funding supports equipment and manufacturing systems to expand IperionX’s domestic titanium powder-to-part manufacturing capacity. The program will increase titanium component-processing capability, bring critical manufacturing steps in-house and support shorter lead times, providing the potential to lower acquisition and production costs for U.S. defense applications.
CEO Commentary
“This second U.S. Army task order represents an important step in scaling IperionX’s titanium powder-to-part manufacturing platform. The SBIR Phase III award aims to advance continuous and industrial-scale HSPT™ and dehydride capacity and bring titanium fastener finishing fully in-house at our Virginia titanium manufacturing facility.
This award aligns with GenX™, our next-generation continuous HAMR™ production platform, which together will provide an integrated American titanium manufacturing system. The program will expand our capacity to manufacture titanium track pins, bolts and fasteners for the U.S. Army, shorten production lead times and strengthen the domestic titanium manufacturing capabilities required to support U.S. defense supply chains.”
- Taso Arima, IperionX CEO
Expanding American titanium powder-to-part manufacturing capacity
IperionX’s titanium manufacturing platform integrates two proprietary technologies. HAMR™ converts titanium scrap or mineral feedstocks into low-oxygen titanium powder. HSPT™ then consolidates that powder into near-net-shape components with a wrought-like microstructure and high-performance mechanical attributes.
Task Order 2 will expand downstream conversion capacity required to transform larger volumes of titanium powder into qualified finished components. The three fully funded work packages support continuous HSPT™ furnace development, centerless grinding and thread-rolling equipment for in-house fastener production, and industrial-scale continuous HSPT™ and dehydrogenation furnaces. Refer to Appendix A with details of tasks and Appendix B for the terms of the Task Order.
The funded SBIR Phase III program is designed to increase manufacturing throughput and flexibility while reducing reliance on external finishing suppliers. Bringing fastener finishing in-house will give IperionX greater control over cost and production schedules and establish a more complete titanium powder-to-finished-component capability at its Virginia facility.
The program includes production-scale titanium track pins, bolts and fasteners for U.S. Army ground-combat applications, with inspection and acceptance planned at Detroit Arsenal.
Accelerating commercial scale-up and strengthening the U.S. defense industrial base
IperionX’s customer programs range across defense, aerospace, automotive and consumer electronics, from material and component qualification through funded prototyping and initial low-rate orders. Finished component-conversion capacity is currently a key constraint in advancing these programs toward potential higher-volume supply arrangements.
The new HSPT™ and dehydrogenation capacity is expected to increase both the number and volume of components IperionX can process. Internalizing fastener finishing is also expected to shorten lead times, improve manufacturing control and retain more value within IperionX’s integrated powder-to-part production platform. The new capabilities will provide a scalable manufacturing backbone serving both U.S. defense requirements and IperionX’s commercial growth strategy.
For the defense industrial base, it will expand domestic capacity for titanium track pins, bolts, fasteners and other mission-critical components, while improving supply-chain resilience and potential surge capacity. The same equipment, workforce and operating expertise can support the scale-up of titanium products for aerospace and other advanced manufacturing markets. By integrating advanced titanium processing and finished-component manufacturing in Virginia, Task Order 2 is expected to accelerate IperionX’s commercial scale-up and enhance American industrial capability for strategically important titanium components.
Continuous manufacturing across the platform
IperionX is advancing a transition from batch to continuous processing at both ends of its titanium manufacturing platform.
GenX™, IperionX’s next-generation HAMR™ development platform, targets continuous production of low-oxygen titanium powder. Task Order 2 separately supports the development of continuous HSPT™ processing and industrial-scale dehydrogenation capacity for converting HAMR™ powder into titanium near-net-shape components.
Connecting continuous powder production with continuous downstream titanium component manufacturing is designed to increase throughput, improve production consistency and progressively reduce unit costs as manufacturing volumes scale.
Potential expansion into aerospace and refractory metals
The SBIR Phase III Task Order 2 includes four option line items totaling US$6.9 million, subject to U.S. Government exercise, additional funding, technical development and customer qualification. If exercised and funded, the options would support:
- an integrated binder-jet and HSPT™ demonstration for an aerospace-grade titanium component with a leading global aerospace and defense supplier;
- recycling C103 alloy scrap for a large advanced materials company into high-purity powder suitable for additive manufacturing or remelting; and
- niobium reduction, powder spheroidization and scaled production of spherical niobium and C103 powders with Global Advanced Metals.
C103 is a niobium-hafnium-titanium refractory alloy designed for sustained operation in high-temperature environments, including space and defense propulsion systems. Its use in additive manufacturing and powder metallurgy depends on reliable access to tightly specified low-oxygen powder feedstock. The funding options could position IperionX’s patented technologies to establish an integrated domestic capability spanning C103 scrap recycling, niobium reduction, deoxygenation and powder spheroidization.
End-to-end U.S. Government support for a secure domestic titanium supply chain
The SBIR Phase III Task Order 2 adds industrial-scale titanium component manufacturing to a broader portfolio of previously announced U.S. Government programs supporting IperionX’s development of an integrated American titanium supply chain.
Collectively, these separate initiatives span strategic feedstock, titanium metal and powder production, workforce and industrial-base development, and finished-component manufacturing. Previously announced support includes:
- US$59.8 million of fully obligated reimbursable funding under the Defense Production Act Title III and Industrial Base Analysis and Sustainment (IBAS) programs, supporting the expansion of domestic titanium production capabilities;
- approximately 290 metric tons of high-quality titanium alloy scrap transferred at no cost, providing IperionX with a strategic domestic feedstock for recycled titanium production; and
- the initial US$1.3 million U.S. Army task order under the SBIR Phase III contract, which commenced the development of low-cost, American-made titanium components for defense applications.
Task Order 2 extends this engagement further downstream by funding equipment and manufacturing systems that convert titanium powder into production-scale finished components. The progression from strategic feedstock and primary metal production through to qualified defense components reinforces IperionX’s role in rebuilding a secure, vertically integrated and competitive U.S. titanium supply chain.
This announcement has been authorized for release by the CEO and Managing Director.
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About IperionX
IperionX is 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 the largest JORC-compliant mineral resource 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, automotive and additive manufacturing.
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