IperionX (IPX) secures US$6.6M DoW funding and JLTV prototype order
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
IperionX Limited has been awarded up to US$6.6 million under a U.S. Department of War program funded by the Office of the Secretary of War Submarine Workforce and Industrial Base (OSW-SWIB) to scale titanium plate and component production at its Titanium Manufacturing Campus in Virginia.
The program runs in two phases, with US$0.2 million for initial scoping and test work and, upon successful completion, a further US$6.4 million for capital equipment and expanded capacity. IperionX will apply its patented HAMR™, HSPT™ and THRM™ powder-to-plate technologies to produce ballistic-grade titanium plate and large-format components for demanding maritime and land defense applications, in collaboration with Texas A&M’s George H.W. Bush Combat Development Complex and the U.S. Army Research Laboratory. The company also received a prototype order for titanium fasteners for the Joint Light Tactical Vehicle, reinforcing its role in the U.S. defense industrial base.
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Insights
IperionX secures phased U.S. defense funding to scale titanium manufacturing and wins a JLTV prototype order.
IperionX has been awarded up to US$6.6 million from a U.S. Department of War OSW-SWIB program to expand domestic production of ballistic-grade titanium plate and large-format components. Phase 1 provides US$0.2 million for scoping, followed by US$6.4 million for process scale-up and capital equipment at its Virginia Titanium Manufacturing Campus.
The company will deploy its HAMR™, HSPT™ and THRM™ powder-to-plate technologies to simplify conventional titanium processing and target applications requiring high strength-to-weight performance, corrosion resistance and ballistic tolerance. Collaborations with the George H.W. Bush Combat Development Complex and the U.S. Army Research Laboratory support testing, validation and transition into defense and strategic industrial uses.
Alongside the grant, IperionX received a prototype order for titanium fasteners for the Joint Light Tactical Vehicle and its trailer. While the initial order value is described as not material, the filing notes that a successful prototype program could lead to an accelerated rollout across a large vehicle fleet, deepening IperionX’s integration into the U.S. defense industrial base.
Key Figures
Total OSW-SWIB award: US$6.6 million
Phase 1 funding: US$0.2 million
Phase 2 funding: US$6.4 million
+2 more
5 metrics
Total OSW-SWIB award
US$6.6 million
U.S. Department of War program to scale titanium production
Phase 1 funding
US$0.2 million
Project scoping and test work
Phase 2 funding
US$6.4 million
Scale manufacturing capacity and purchase capital equipment
Project duration
Two years
Scheduled completion for Phase 1 and Phase 2
Virginia facility address
1092 Confroy Drive, South Boston, VA 24592
Titanium Manufacturing Campus location
Key Terms
OSW-SWIB, ballistic-grade titanium plate, HAMR™, HSPT™, +2 more
6 terms
OSW-SWIB regulatory
"funded by the Office of the Secretary of War Submarine Workforce and Industrial Base, or OSW-SWIB."
ballistic-grade titanium plate technical
"including ballistic-grade titanium plate, for maritime and land defense platforms."
HAMR™ technical
"The Company’s proprietary HAMR™ process can produce low-cost titanium powder"
HAMR (heat-assisted magnetic recording) is a hard-drive technology that uses a tiny, brief burst of heat to make it possible to write much smaller, more tightly packed bits of data on a spinning disk. For investors, HAMR matters because it enables much higher storage capacity and lower cost per unit of data for cloud and enterprise storage customers, which can boost demand and pricing power for makers of hard drives and their suppliers—think of it as shrinking shelves so a warehouse can hold far more boxes without growing the building.
HSPT™ technical
"while its HSPT™ and THRM™ technologies deliver high-performance, wrought-like titanium properties"
THRM™ technical
"IperionX's patented THRM™ and HSPT™ processes use hydrogen-enabled thermodynamics"
Joint Light Tactical Vehicle technical
"produce a range of prototype titanium fasteners for the JLTV and associated trailer – known as the “workhorse”"
A joint light tactical vehicle is a military-grade, armored transport designed to carry troops, cargo and mission equipment while offering protection from small arms fire and roadside bombs; think of it as a heavy-duty pickup truck built for combat. It matters to investors because these vehicles are bought in large, long-term government contracts that create steady revenue for manufacturers, sustain parts and service businesses, and influence defense industry valuations.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
Date: July 1, 2026
Commission File Number: 001-41338
IperionX Limited
(Translation of registrant’s name into English)
129 W Trade Street, Suite 1405
Charlotte, North Carolina
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
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Form 20-F ☒
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Form 40-F ☐
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EXHIBIT INDEX
The following exhibits are filed as part of this Form 6-K:
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Exhibit
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Description
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99.1
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Press Release
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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IPERIONX LIMITED
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(registrant)
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Date: July 1, 2026
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By:
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/s/ Marcela Castro | |
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Name: Marcela Castro
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Title: Chief Financial Officer
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Exhibit 99.1
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PRESS RELEASE | NASDAQ: IPX | ASX: IPX
July 1, 2026
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IPERIONX AWARDED UP TO US$6.6M BY OSW-SWIB TO SCALE U.S. TITANIUM PLATE FOR DEFENSE APPLICATIONS
Funding supports domestic production of ballistic-grade titanium plate and large-format military titanium components at IperionX’s Titanium Manufacturing
Campus
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IperionX awarded up to US$6.6 million by the Office of the Secretary of War – Submarine Workforce and Industrial Base program (OSW‑SWIB)
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The award forms part of a larger, multi-organization program to scale production of high-performance titanium alloy products, including ballistic-grade titanium plate,
for land and maritime defense platforms
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Funding will support expanded manufacturing capability for large-format military titanium components at IperionX’s Titanium Manufacturing Campus in Virginia,
strengthening U.S. capacity for mission-critical titanium products and critical-material supply chains
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IperionX will collaborate with the George H.W. Bush Combat Development Complex (BCDC) and the U.S. Army Combat Capabilities Development Command (DEVCOM) Army Research Laboratory (ARL) to accelerate product
scale-up, validation, and transition pathways for defense and strategic industrial applications
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Alongside the OSW-SWIB award, IperionX has received an additional purchase order from the U.S. Army Ground Vehicle Systems Center to manufacture a range of titanium
fasteners for the JLTV in support of U.S. Army and Marine Corps operational requirements
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IperionX Limited (NASDAQ: IPX, ASX: IPX) (IperionX) has been awarded up to US$6.6 million under a U.S. Department of War (DoW) program, funded by the Office of
the Secretary of War Submarine Workforce and Industrial Base, or OSW-SWIB.
The award forms part of a larger program to scale domestic production of high-performance titanium alloy products, including ballistic-grade titanium plate, for maritime and land defense platforms.
The multi-organization defense program will focus on titanium mill products and components for platforms requiring exceptional strength-to-weight performance, corrosion resistance, durability,
ballistic-impact tolerance, and shock survivability. These requirements represent some of the most demanding performance standards in advanced defense materials, especially for applications exposed to harsh operating environments, high-impact loads,
and extended service-life demands.
Funding will support capital equipment at IperionX’s Titanium Manufacturing Campus in Virginia, expanding manufacturing capabilities for large-format titanium components and strengthening U.S. capacity
for mission‑critical titanium products. The program will be completed in two phases with Phase 1 granting US$0.2 million for project scoping and test work. Upon successful completion, IperionX is expected to receive a further US$6.4 million to scale
manufacturing capacity and purchase capital equipment.
The program directly supports IperionX’s strategy to establish a secure, low-cost and resilient American titanium manufacturing platform for defense and advanced industrial customers.
Conventional titanium plate production is technically complex, capital- and energy-intensive, and often characterized by low yields. The process typically involves sponge production, vacuum melting and
remelting, ingot or slab casting, breakdown forging, hot rolling, repeated annealing, and final surface conditioning. Each of these steps can contribute to extended lead times, elevated production costs, material yield losses, and supply-chain
constraints.
IperionX’s patented titanium technologies are designed to simplify and shorten this production route. The Company’s proprietary HAMR™ process can produce low-cost titanium powder from titanium minerals
or recycled titanium, while its HSPT™ and THRM™ technologies deliver high-performance, wrought-like titanium properties without reliance on the full conventional melt-remelt-forge pathway.
Together, these technologies support IperionX’s powder-to-plate titanium manufacturing platform, which is designed to reduce process steps, lower capital intensity, reduce energy intensity, improve
material utilization and strengthen domestic supply-chain resilience for strategic titanium products.
Through this program, IperionX will produce and evaluate high-performance titanium alloy products for applications where titanium can provide lightweight alternatives to steel, including armor precursor
plate, hatches, covers, brackets, structural components and maritime systems.
In maritime applications, titanium’s high strength, durability and corrosion resistance can support improved readiness, reduced maintenance and longer service life. Across land defense platforms, lower
component weight can support improved mobility, payload capacity, fuel efficiency and survivability.
IperionX will collaborate with the George H.W. Bush Combat Development Complex, an organization within The Texas A&M University System (TAMUS), and the U.S. Army Combat Capabilities Development
Command Army Research Laboratory. The collaboration is expected to support material testing, ballistic and shock-survival evaluation, product validation and transition into defense and strategic U.S. industrial applications.
The project is a systematic metallurgical study to demonstrate how THRM/HSPT microstructural engineering can be used to achieve ballistic performance. This project complements separately DoW-funded
IperionX programs for powder-to-plate production. Together these DoW-funded activities provide an alternative pathway that has the potential to reduce the U.S. dependency on imported titanium sponge.
Joint Light Tactical Vehicle (JLTV) fastener prototype order
Alongside the OSW-SWIB award, IperionX has received a purchase order from the U.S. Army Ground Vehicle Systems Center to produce a range of prototype titanium fasteners for the JLTV and associated
trailer – known as the “workhorse” of the Marine Corps’ ground tactical vehicle fleet – to support U.S. Army and Marine Corps operational requirements.
The JLTV is a U.S. military light tactical vehicle, originally built by Oshkosh Defense, designed to replace many Humvees by providing greater protection, mobility, payload capacity, and networked
mission flexibility for combat and support operations.
While the value of the initial purchase order is not considered material, a successful prototyping program has the potential to progress into an accelerated roll-out program across a large number of
ground vehicles, providing lightweight, strong and corrosion resistant titanium components for the U.S. warfighter.
IperionX Senior Adviser U.S. Army Lieutenant General Ross Coffman U.S. Army (Retired) said:
“During my time as Deputy Commanding General of Army Futures Command, I enjoyed my collaboration with BCDC, and I saw firsthand the importance of a secure U.S. low-cost titanium supply chain for
national security.
The Army has a pressing need to reduce the weight of our ground vehicle platforms to maintain combat effectiveness. The benefits of titanium across all defense mobility platforms, including robotics,
are well known and I’m proud to be on this mission with IperionX."
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IperionX CEO Taso Arima said:
"This award is an important validation of IperionX's strategy to scale high-performance titanium manufacturing capacity in the United States. By combining lower-cost titanium feedstocks with our
patented HAMR™, HSPT™ and THRM™ technologies, we are developing a more efficient domestic manufacturing platform for high-performance titanium plate and components.
Our objective is to shorten the conventional titanium production chain, reduce supply-chain complexity and build a more resilient, lower-cost U.S. titanium supply chain for defense, aerospace and
advanced manufacturing customers.
In addition to the award, the new prototype order for titanium fasteners for the JLTV is a further signal of the important role that is developing for IperionX in supporting the U.S. defense industrial
base.”
This announcement has been authorized for release by the CEO and Managing Director.
For further information and enquiries please contact:
info@iperionx.com
+1 980 237 8900
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Appendix A
Award details
IperionX has been awarded an initial $0.2 million in funding under the OSW Submarine Workforce and Industrial Base Program for project scoping and test work (Phase 1). Upon, and subject to, successful
completion of Phase 1, IperionX will be awarded a further $6.4 million to scale process technology and purchase capital equipment to be installed at IperionX’s Titanium Manufacturing Campus (Phase 2). Phase1 and Phase 2 of the project are scheduled
to be complete within two years.
About THRMTM and HSPTTM
IperionX's patented THRM™ and HSPT™ processes use hydrogen-enabled thermodynamics and powder-metallurgy processing to engineer wrought-like microstructures and mechanical properties in titanium alloys.
These technologies reduce processing complexity and limit reliance on conventional high-cost forging and extensive thermo-mechanical work, enabling a faster and lower-cost route to advanced titanium components.
IperionX’s leading R&D team includes THRM™ and HSPT™ co-inventor Dr. James Paramore, who joined the Company after previously serving at both the U.S. Army DEVCOM ARL and BCDC.
Titanium for U.S. Defense Industrial Base
U.S. Department of War’s SWIB program reflects the strategic priority of rebuilding domestic industrial capability in critical defense materials.
Why titanium matters
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Defense platforms require titanium plate, sheet and fabricated components where weight, durability, corrosion resistance and strength matter most.
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In land defense systems, titanium plate supports armor precursor plate, hatches, covers, brackets and structural components where lower mass can improve mobility, payload, fuel efficiency and survivability.
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In maritime defense platforms, titanium’s strength, durability and corrosion resistance can reduce maintenance, extend service life and improve readiness.
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Why incumbent production is difficult
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Conventional wrought titanium plate typically requires sponge production, vacuum melting and remelting, ingot or slab casting, breakdown forging, hot rolling, repeated annealing and final surface
conditioning.
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Titanium’s high reactivity requires tight process control, multiple high-temperature steps and large specialized equipment, driving high capital intensity, long lead times and significant energy use.
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As plate thickness falls, manufacturing costs compound. Repeated rolling and annealing reduce throughput, while alpha-case removal through grinding, pickling or chemical milling lowers product yield.
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IperionX’s powder-to-plate manufacturing platform
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HAMR™ produces low-cost titanium powder from titanium minerals or recycled titanium, and HSPT™ + THRM™ deliver wrought-like titanium properties without the full conventional melt-remelt-forge pathway
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Together, these technologies support a powder-to-plate manufacturing platform with fewer major process steps, lower capital intensity, lower energy consumption, improved material utilization and stronger
domestic supply-chain resilience
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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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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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FAQ
What U.S. defense funding did IperionX (IPX) receive in this 6-K?
IperionX was awarded up to US$6.6 million under a U.S. Department of War program funded by OSW-SWIB. The funding supports scaling domestic production of ballistic-grade titanium plate and large-format titanium components for critical maritime and land defense applications.
How is the US$6.6 million OSW-SWIB award to IperionX structured?
The award is split into two phases: US$0.2 million for Phase 1 scoping and test work, followed by US$6.4 million in Phase 2. Phase 2 funding, subject to successful completion of Phase 1, will scale manufacturing capacity and fund capital equipment in Virginia.
What technologies will IperionX (IPX) use to deliver ballistic-grade titanium plate?
IperionX will apply its patented HAMR™, HSPT™ and THRM™ technologies to create a powder-to-plate manufacturing platform. These processes aim to reduce processing steps, capital intensity and energy use while achieving wrought-like titanium properties for demanding defense and industrial applications.
Which partners are collaborating with IperionX on this titanium defense program?
IperionX will collaborate with the George H.W. Bush Combat Development Complex within The Texas A&M University System and the U.S. Army Combat Capabilities Development Command Army Research Laboratory. These partners support material testing, ballistic and shock-survival evaluation, and product validation.
What is the significance of IperionX’s JLTV titanium fastener prototype order?
IperionX received a purchase order from the U.S. Army Ground Vehicle Systems Center to produce prototype titanium fasteners for the Joint Light Tactical Vehicle and its trailer. While initially not material in value, success could lead to wider deployment across a large ground vehicle fleet.
Where will IperionX expand titanium manufacturing capacity with OSW-SWIB funding?
Funding will support capital equipment at IperionX’s Titanium Manufacturing Campus in Virginia. The goal is to expand capacity for large-format titanium components and ballistic-grade plate, strengthening U.S. supply of mission-critical titanium products for defense and advanced industrial users.