IperionX Limited (NASDAQ: IPX, ASX: IPX) is pleased to
announce that it has won the prestigious R&D 100 award for its
innovative Hydrogen Assisted Metallothermic Reduction (HAMR)
titanium production process.
IperionX and the inventor of the technology, Dr. Zak Fang, have
been recognized for HAMR – a low cost and sustainable process for
producing titanium metal powder used for both additive
manufacturing and traditional powder metallurgy manufacturing
methods.
Titanium is a superior metal in many applications to both steel
and aluminum, but its cost often limits its use to high performance
applications. The breakthrough discovery made by Dr. Fang and the
team at the University of Utah – that hydrogen can destabilize the
bond between titanium and oxygen – led to the development of the
innovative HAMR process.
The patented HAMR technology can produce titanium metal from
either 100% recycled titanium scrap or from titanium minerals. The
resulting high quality titanium powder can be used in additive
manufacturing or powder metallurgy to deliver products in a broad
range of demanding applications, including aerospace, defense, and
biomedical, with dramatically lower costs and increased
sustainability.
For more than 50 years, a large amount of effort has been
applied to develop a new technology to replace the incumbent Kroll
process in order to lower the cost and environmental impacts
associated with the production of titanium metal. To date, these
efforts have failed to meet quality requirements, cost reduction
needs or commercial scalability.
In contrast to the Kroll process, the HAMR process uses
low-temperature processing, cuts direct carbon emissions and
substantially reduces the cost of producing titanium metal. When
using 100% titanium scrap as feedstock, the HAMR process can create
a circular supply chain for this advanced metal that is critical to
America's economic future and national security.
Commercialization of the HAMR process has been successfully
proven, with high-quality titanium powder currently being produced
at IperionX's Industrial Pilot Facility in Salt Lake City, UT. To
meet the increasing demand for sustainable and lower cost titanium
metal, IperionX has advanced plans to build a larger titanium
production facility in Halifax County, Virginia. Once commissioned,
IperionX has well-defined plans to rapidly scale the capacity of
this innovative titanium production facility in a low risk, modular
fashion.
R&D 100 Awards
The R&D 100 Awards is the only global science and technology
awards competition that recognizes new commercial products,
technologies and materials for their technological
significance.
The R&D 100 Awards are recognized in industry, government,
and academia as a mark of excellence for the most innovative ideas
of the year. Awards are based on the technology’s technical
significance, uniqueness, and effectiveness when compared to
competing technologies.
Since 1963, R&D 100 awards have been granted for
breakthrough technologies including Polacolor film, the flashcube,
the digital wristwatch, antilock brakes, the automated teller
machine, the liquid crystal display, the halogen lamp, the fax
machine and HDTV.
Anastasios (Taso) Arima, IperionX CEO said:
“It is pleasing that Dr. Zak Fang, his team at the University of
Utah, and IperionX have been recognized for the development and
commercialization of the HAMR technology to produce low cost,
sustainable titanium metal powders, highlighting an important
contribution to innovation and the significant progress made to
develop and commercialize this truly revolutionary titanium
technology.”
About IperionX
IperionX aims to become 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 U.S.A.
IperionX’s titanium metal and critical minerals are essential
for advanced U.S. industries including space, aerospace, defense,
consumer electronics, hydrogen, electric vehicles and additive
manufacturing.
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/20230823542860/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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