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* Magazine * Industry * Maker * Applications & Case Studies * Lifestyle & Art * Medical * Research & Education * 3D Printer * Materials * 3D Scanner * Software * Events * Contact * Submit News * Job Board * Webinars Search * Contact * Submit News * Partner Area * Log In * Deutsch 3Printr.com * Magazine * Industry * Maker * Applications & Case Studies * Lifestyle & Art * Medical * Research & Education * 3D Printer * Materials * 3D Scanner * Software * Events * Contact * Submit News * Job Board * Webinars Home Industry IperionX secures $11.5 Million Funding * Industry IPERIONX SECURES $11.5 MILLION FUNDING By Lucia Gartner - Oct 24, 2023 Picture: IperionX IperionX Limited is pleased to announce that it has received a Letter of Interest (“LOI”) from the Export-Import Bank of the United States (“EXIM Bank”) for a preliminary amount of US$11.5 million for 7-year equipment financing for the development of IperionX’s titanium production facility in Halifax County, Virginia. EXIM Bank has informed IperionX that the proposed titanium production facility may fall under both EXIM Bank’s ‘China and Transformational Exports Program’ and ‘Make More in America Initiative’. These programs support projects that reduce China’s dominant position in strategic sectors and promote exports. IperionX plans to use the financing for essential production equipment, such as industrial furnaces and crushing equipment. The company intends to build a titanium production facility in Virginia with a capacity of 125 metric tons per year, with first production expected in 2024. Once operational, IperionX plans to gradually increase the capacity of this advanced titanium production facility to 1,125 metric tons per year. Titanium is sought after for its high strength-to-weight ratio, heat resistance and corrosion resistance. It plays a critical role in many U.S. defense systems and has applications in areas such as aerospace, medical, consumer electronics, 3D printing and automotive. IperionX has the capability to provide a complete U.S. titanium supply chain from titanium mineral production to high-performance titanium product manufacturing, including the use of 100% recycled scrap titanium. The company can produce a variety of titanium products, and do so in a more energy-efficient, cost-effective and environmentally friendly manner. Although the letter of intent is not binding, the potential financing from EXIM Bank provides IperionX with a solid foundation for the development of the planned titanium production facility. > Anastasios (Taso) Arima, IperionX CEO said: “Titanium for the U.S. > manufacturing sector is currently sourced over long distances from foreign > nations. We are pleased to receive the letter of interest for the provisional > sum of US$11.5 million in equipment finance from US EXIM that will assist > IperionX to re-shore a lower-cost, more sustainable and fully integrated U.S. > titanium supply chain that is critical both for the manufacturing of advanced > goods as well as for America’s national security.” -------------------------------------------------------------------------------- SUBSCRIBE TO OUR NEWSLETTER 3DPResso is a weekly newsletter that links to the most exciting global stories from the 3D printing and additive manufacturing industry. First Name Last Name E-Mail* Privacy Policy* I want to register for the newsletter for free. You can find the privacy policy for the newsletter here. You can unsubscribe from the newsletter at any time. For further questions, you can contact us here. Subscribe for free * TAGS * 3Dprint * Additive Manufacturing * additivemanufacturing * AM * Finance * funding * industry * investment * million * technology Lucia Gartner RELATED ARTICLESMORE FROM AUTHOR Industry WASP PRESENTS NEW 3D PRINTING TECHNOLOGIES AT FORMNEXT Industry 3DCERAM PRESENTS NEW SOLUTIONS FOR CERAMIC 3D PRINTING AT FORMNEXT Industry RIVELIN ROBOTICS TO SHOWCASE AUTOMATED METAL AM POST-PROCESSING AT FORMNEXT 2023 Industry 6K ADDITIVE ACQUIRES GLOBAL METAL POWDERS: FOCUS ON SUSTAINABLE METAL POWDER PRODUCTION Industry 3D SYSTEMS PRESENTS NEW MATERIALS AND TECHNOLOGIES AT FORMNEXT Industry SINTRATEC AND THES3D ENTER INTO PARTNERSHIP IN GREECE Industry MELTIO APPOINTS NEW EXECUTIVES FOR POLAND AND DACH REGION Industry ITALIAN CONTRACT MANUFACTURER CI-ESSE ACQUIRES SAPPHIRE PRINTER FROM VELO3D Industry STRATASYS PUBLISHES REPORT ON 3D PRINTING IN THE FASHION INDUSTRY SOCIAL MEDIA * linkedin * twitter * facebook * tiktok * instagram * youtube POPULAR POSTS 3DMAKER.AI CONVERTS 2D IMAGES INTO 3D MODELS WITH ARTIFICIAL INTELLIGENCE Software Sep 4, 2023 PROJECT R3D BEGINS SHIPPING ITS TALOS SERIES 3D PRINTERS 3D Printer Nov 1, 2023 3D SYSTEMS PRESENTS NEW MATERIALS AND TECHNOLOGIES AT FORMNEXT Industry Nov 2, 2023 AXTRA3D OPENS NEW HEADQUARTERS IN CHARLOTTE Industry Oct 31, 2023 ELEGOO INTRODUCES ITS FIRST INDUSTRIAL 3D PRINTER 3D Printer Sep 15, 2023 NEWSLETTER 3DPResso is a weekly newsletter that links to the most exciting global stories from the 3D printing and additive manufacturing industry. 3DPresso is published every Tuesday and is free of charge. 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For further questions, you can contact us here LATEST NEWS TANGIBLE ENGINEERING PRESENTS LARGE-FORMAT RESIN 3D PRINTER SOLIDATOR 8K AT FORMNEXT 3D Printer Nov 3, 2023 WASP PRESENTS NEW 3D PRINTING TECHNOLOGIES AT FORMNEXT Industry Nov 3, 2023 NEW PROCESS DEVELOPED FOR COST-EFFECTIVE 3D PRINTING OF STEEL Research & Education Nov 3, 2023 POPULAR 3DMAKER.AI CONVERTS 2D IMAGES INTO 3D MODELS WITH ARTIFICIAL INTELLIGENCE Software Sep 4, 2023 PROJECT R3D BEGINS SHIPPING ITS TALOS SERIES 3D PRINTERS 3D Printer Nov 1, 2023 3D SYSTEMS PRESENTS NEW MATERIALS AND TECHNOLOGIES AT FORMNEXT Industry Nov 2, 2023 * Imprint and Disclaimer * Privacy Policy © 3Printr.com DEFINITIONER CEOChief Executive Officer MORE STORIES 3D Printer TANGIBLE ENGINEERING PRESENTS LARGE-FORMAT RESIN 3D PRINTER SOLIDATOR 8K AT FORMNEXT 3Printr.com - Nov 3, 2023 Edit with Live CSS .td-post-category {display:none !important;} Save Write CSS OR LESS and hit save. CTRL + SPACE for auto-complete. 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