IperionX (ASX:IPX) has received the final US$4.6 million of a previously awarded US$47.1 million from the US Department of War under its Industrial Base Analysis and Sustainment program.
The funding will support the scale-up of titanium production at IperionX's Titanium Manufacturing Campus in Virginia, increasing output to 1,400 metric tons per year.
In addition, the US Government has transferred approximately 290 metric tons of high-quality titanium alloy (Ti64) scrap—enough to supply roughly 1.5 years of production at full capacity—at no cost.
The IBAS program aims to strengthen domestic defence supply chains by establishing a resilient, low-cost titanium platform, reducing reliance on imports.
This latest tranche completes DoW's total funding obligations of US$47.1 million, which have supported long-lead manufacturing equipment and advanced the Titan Critical Minerals Project in Tennessee to shovel-ready status.
At the time of reporting, IperionX's share price was $7.18.