IperionX Limited (NASDAQ:IPX, ASX: IPX) has agreed a
Scope of Work (“SoW”) for the supply of titanium metal components
for Ford Motor Company (“Ford,” NYSE: F) using IperionX’s unique
100% recycled, low-carbon titanium metal. Ford and IperionX have
been actively collaborating to design, test and additively
manufacture a series of high-quality titanium components for future
Ford Performance production vehicles.
Ford Performance is the high-performance and racing division of
the Ford Motor Company, well known for a leading range of
performance cars such as the F150 Raptor, Bronco Raptor, Mustang
Mach 1 and the Shelby GT500. Ford aims to be the only manufacturer
competing in Formula 1, Le Mans 24 Hours with Mustang GT3, WRC with
the M-Sport Ford Puma Hybrid Rally1, Baja 1000 with Ranger Raptor
and Bronco, and NASCAR and Supercars with Mustang.
This Ford SoW follows a detailed program of quality and strength
testing of IperionX’s low-carbon, circular titanium metal. Ford’s
Sustainability and Advanced Materials divisions undertook a range
of testing procedures, verifying that IperionX’s titanium surpassed
the required parameters set under ASTM International standards.
The titanium components are set to undergo a comprehensive
“finishing study” to assess a range of potential surface finish of
parts. The insights gained from this SoW will guide the final
design, and unit costs, for a range of low-carbon titanium
components for Ford Performance production vehicles.
Automotive parts made with titanium are notable for superior
strength-to-weight ratios, high levels of corrosion resistance,
outstanding durability and – unique to IperionX’s technologies –
can be sustainably recycled at the end of the product life.
IperionX’s proprietary technologies can unlock significant
sustainability benefits that are critical for a low-carbon, fully
circular titanium automotive supply chain – attributes that can’t
be achieved with any other known commercial titanium production
process.
Ford recently joined the First Movers Coalition, a global
initiative to harness the purchasing power and supply chains for
innovative clean industrial materials technologies. The First
Movers Coalition leverages the collective purchasing power from the
50+ foundation companies - that includes Volvo, Airbus, Apple,
Amazon and Microsoft - to send a clear demand signal necessary to
scale-up critical emerging technologies essential for the net-zero
transition.
Anastasios (Taso) Arima, IperionX CEO said:
“Ford has a commitment to achieve carbon neutrality by 2050. We
are proud to partner with Ford to accelerate the deployment of a
sustainable, circular titanium supply chain for the global
automotive market.
Our low-carbon titanium metal is uniquely made with 100%
recycled titanium and can significantly improve automotive supply
chains by using high-strength titanium components with nearly half
the weight of steel.
IperionX is re-shoring a lower cost and more sustainable U.S.
titanium supply chain – shifting from a linear supply chain to a
lower carbon, circular titanium supply chain – recycling titanium
scrap to manufacture low carbon, high performance titanium
components. We are pleased that Ford has partnered with us to
improve automotive supply chains and scale our low-carbon,
circular, titanium business.”
About IperionX
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.
Forward Looking Statements
Information included in this release constitutes forward-looking
statements. Often, but not always, forward looking statements can
generally be identified by the use of forward-looking words such as
“may,” “will,” “expect,” “intend,” “plan,” “estimate,”
“anticipate,” “continue,” and “guidance,” or other similar words
and may include, without limitation, statements regarding plans,
strategies and objectives of management, anticipated production or
construction commencement dates and expected costs or production
outputs.
Forward looking statements inherently involve known and unknown
risks, uncertainties and other factors that may cause the Company’s
actual results, performance, and achievements to differ materially
from any future results, performance, or achievements. Relevant
factors may include, but are not limited to, changes in commodity
prices, foreign exchange fluctuations and general economic
conditions, increased costs and demand for production inputs, the
speculative nature of exploration and project development,
including the risks of obtaining necessary licenses and permits and
diminishing quantities or grades of reserves, the Company’s ability
to comply with the relevant contractual terms to access the
technologies, commercially scale its closed-loop titanium
production processes, or protect its intellectual property rights,
political and social risks, changes to the regulatory framework
within which the Company operates or may in the future operate,
environmental conditions including extreme weather conditions,
recruitment and retention of personnel, industrial relations issues
and litigation.
Forward looking statements are based on the Company and its
management’s good faith assumptions relating to the financial,
market, regulatory and other relevant environments that will exist
and affect the Company’s business and operations in the future. The
Company does not give any assurance that the assumptions on which
forward looking statements are based will prove to be correct, or
that the Company’s business or operations will not be affected in
any material manner by these or other factors not foreseen or
foreseeable by the Company or management or beyond the Company’s
control.
Although the Company attempts and has attempted to identify
factors that would cause actual actions, events or results to
differ materially from those disclosed in forward looking
statements, there may be other factors that could cause actual
results, performance, achievements, or events not to be as
anticipated, estimated or intended, and many events are beyond the
reasonable control of the Company. Accordingly, readers are
cautioned not to place undue reliance on forward looking
statements. Forward looking statements in these materials speak
only at the date of issue. Subject to any continuing obligations
under applicable law or any relevant stock exchange listing rules,
in providing this information the Company does not undertake any
obligation to publicly update or revise any of the forward-looking
statements or to advise of any change in events, conditions or
circumstances on which any such statement is based.
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version on businesswire.com: https://www.businesswire.com/news/home/20230612520644/en/
Anastasios (Taso) Arima, Founder and CEO Toby Symonds, President
Dominic Allen, Chief Commercial Officer
Investors: investorrelations@iperionx.com Media:
media@iperionx.com +1 980 237 8900 www.iperionx.com
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