SOUTH BOSTON, Va., Aug. 31, 2026 (GLOBE NEWSWIRE) -- IperionX Limited (IperionX) (NASDAQ: IPX, ASX: IPX) IperionX Limited 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.
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.
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
Full announcement: (link)
Contacts
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
