SYDNEY, AUSTRALIA: IperionX Limited (IperionX) (NASDAQ: IPX, ASX: IPX), a leading titanium producer, has announced that it has received a Letter of Interest (LOI) from the Export-Import Bank of the United States (EXIM Bank) for the provisional sum of US$11.5 million in equipment finance with a repayment tenor of 7 years. The finance will support the development of IperionX’s Titanium Production Facility in Halifax County, Virginia.

The proposed facility may qualify for equipment finance under EXIM’s ‘China and Transformational Exports Program’ and ‘Make More in America Initiative’. These programs aim to reduce Chinese dominance in strategic sectors and promote export-orientated domestic projects.

IperionX plans to use the equipment finance to acquire key production assets such as industrial furnaces and comminution equipment. The company intends to build a 125 metric ton per annum titanium production facility in Virginia, with first production expected in 2024. The facility will have the potential to scale up to 1,125 metric tons per annum on the same site using a modular development approach.

Titanium is a critical material for many U.S. defense systems and for various applications in the aerospace, space, medical, consumer electronics, additive manufacturing, hydrogen and automotive sectors. It has high strength-to-weight ratio, resistance to high temperatures and corrosion.

IperionX can deliver a full U.S. titanium supply chain from titanium mineral production to high performance titanium products, using 100% recycled scrap titanium. The company can produce a wide range of titanium products – including titanium powder, ingots, bars, and plate – at higher energy efficiency, lower costs, and lower environmental impacts.

The LOI from EXIM Bank is non-binding and conditional, but it provides IperionX with a strong foundation as it explores various funding options for its Titanium Production Facility. IperionX will not update the market on any EXIM Bank financial support application or discussion until it reaches a definitive agreement for U.S. government financial support.

Anastasios (Taso) Arima, IperionX CEO said: “We are pleased to receive the letter of interest from US EXIM that will help us re-shore a lower-cost, more sustainable and fully integrated U.S. titanium supply chain that is vital for the manufacturing of advanced goods and for America’s national security.”

IperionX Limited