IperionX Limited (“IperionX”) (NASDAQ: IPX, ASX: IPX) and
Heroux-Devtek (TSE: HRX) have signed an agreement to underpin a
100% recycled titanium supply chain using scrap titanium metal from
the aerospace industry.
Heroux-Devtek specializes in the design, development,
manufacture, and repair of landing gear, actuation systems and
components for the global aerospace market. It serves both the
commercial and defense aerospace sectors and is the third largest
landing gear company in the world.
Under this partnership, Heroux-Devtek will supply IperionX with
Ti-6Al-4V alloy scrap metal generated from landing gear
manufacturing. In turn, IperionX will employ its patented titanium
processing technologies to convert this titanium scrap into
low-carbon titanium for future applications. The processing of the
Heroux-Devtek titanium scrap will be expertly managed by Aperam /
ELG Utica Alloys, under their existing partnership with
IperionX.
The aerospace industry depends on titanium, given its superior
strength, light weight, and exceptional corrosion resistance.
Titanium is integral to a myriad of aerospace applications,
including airframe structural components, engine components and
landing gears. The proportion of titanium used in large commercial
aircraft has significantly increased over the last two decades and
is now ~15% of the weight of modern unladed aircraft1.
Titanium has been mass produced in the same way since the 1940’s
when the existing ‘Kroll Process’ was developed. The Kroll process
is energy intensive, high cost and produces high levels of
greenhouse gas emissions. In addition, the current manufacturing
process for titanium products generates large volumes of titanium
waste that is typically downcycled to the ferro-titanium market or
shipped to landfill.
IperionX’s patented titanium production technologies use less
energy to produce titanium, at lower costs, with zero Scope 1 and 2
emissions, and provides a pathway to sustainable production of
titanium by using 100% scrap titanium as feedstock.
Notably, aerospace industry landing gears also use other high
performance titanium alloys, including Ti-5553 and Ti-10-2-3, that
are valued for improved fracture toughness and strength. IperionX's
technologies can upcycle these titanium alloys, eliminating the
need for a re-melt process, and allow these alloys to be used in a
range of new high-performance applications.
Dominique Dallaire, Heroux-Devtek Vice-President Central
Division said:
“The partnership between Heroux-Devtek and IperionX establishes
a new benchmark in the sustainability of the aerospace supply chain
through the development of low carbon titanium materials for North
American markets. We look forward to building upon this agreement
and investigating the potential application of fully circular
recycled titanium metal within Heroux-Devtek’s future
operations.”
Anastasios (Taso) Arima, IperionX CEO said:
“We are pleased to partner with Heroux-Devtek to develop a
sustainable, circular titanium supply chain for the advanced U.S.
industries. This partnership with Heroux-Devtek provides
IperionX with a diversified, long term supply of titanium feedstock
for the production of American titanium and will enhance the
sustainability of the aerospace supply chain.”
About Heroux-Devtek
Heroux-Devtek Inc. is an international company specializing in
the design, development, manufacture, and repair and overhaul of
landing gear, actuation systems and components for the Aerospace
market. The Corporation is the third largest landing gear company
worldwide, supplying both the commercial and defense sectors of the
Aerospace market with new landing gear systems and components, as
well as aftermarket products and services. The Corporation also
manufactures hydraulic systems, fluid filtration systems and
electronic enclosures.
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.
1
https://www.researchgate.net/publication/230251737_Titanium_and_Its_Alloys_Metallurgy_Heat_Treatment_and_Alloy_Characteristics
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version on businesswire.com: https://www.businesswire.com/news/home/20230906398962/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
Heroux Devtek (TSX:HRX)
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