IperionX (ASX:IPX) has executed a sourcing contract for the supply of manufactured metal components for global automaker Ford Motor Company.
The contract, which will run for 45 months starting next year, will see IperionX supply titanium metal powder and manufacture components to Ford. The total revenue from the contract is expected to be US$11 million ($16.13 million).
IperionX, which has a market capitalisation of $741.15 million, says the actual revenues and contract timing are subject to Ford’s annual volume estimates and final delivery schedule, which may change.
During July last year, IperionX announced it had agreed to a scope of work for the supply of titanium metal components for Ford, using its 100% recycled, low-carbon titanium metal.
Both companies have been actively collaborating to design, test, and additively manufacture a series of high-quality titanium components for future Ford Performance production vehicles.
Ford Performance is the high-performance and racing division of the Ford Motor Company, which is known for a range of performance cars.
The company adds there are potential changes to be made to component designs prior to starting production, which is subject to a final engineering design.
IperionX says the titanium components are set to undergo a comprehensive ‘finishing study’ to assess a range of potential surface finish of parts. The insights gained from this will guide the final design and unit costs for the low-carbon titanium components for the vehicles.
Automotive parts made with titanium are notable for superior strength-to-weight ratios, high-levels of corrosion resistance, outstanding durability, and can be sustainable recycled at the end of the product life.
The company’s proprietary technologies can unlock sustainability benefits that are critical for a low-carbon, fully circular titanium automotive supply chain.
IperionX aims to become a leading American titanium and critical materials company, focused on using patented metal technologies to produce high-performance titanium alloys, from titanium minerals or scrap titanium, at lower energy, cost, and carbon emissions.
Write to Aaliyah Rogan at Mining.com.au
Images: IperionX
