IperionX Selects Virginia for America’s First 100% Recycled, Low Carbon Titanium Metal Facility

IperionX Limited (“IperionX” or “Company”) (Nasdaq | ASX: IPX)is pleased to announce that it has selected the Southern Virginia Technology Park, in Halifax County, Virginia, near the town of South Boston, as the preferred location for the development of America’s first 100% recycled, low carbon titanium manufacturing development (“Titanium Demonstration Facility”).

IperionX undertook an extensive site selection process across the continental U.S. to secure the ideal site for the development of the Titanium Demonstration Facility. Over 250 sites in over 30 states were evaluated for cost, site readiness, expansion capability, access to infrastructure and potential financial incentives.

Subject to completion of binding documentation, IperionX has selected a 50,000-square-foot site at the Southern Virginia Technology Park, in Halifax County, Virginia, near the town of South Boston.

The site at the Southern Virginia Technology Park provides IperionX with an excellent location to scale up its titanium metal production, with direct access to major highways, a large talent pool, high quality infrastructure and 100% renewable power. The state, county and local authorities have provided an attractive incentive package to locate the site in Halifax County, VA.

Virginia & Halifax Proposed Incentive Package

The Virginia Economic Development Partnership (VEDP) worked with Halifax County, the Southern Virginia Regional Alliance, the Virginia Department of Environmental Quality, and Virginia Department of Energy to develop an incentive package for IperionX to locate the Titanium Demonstration Facility in Halifax County Virginia.

The Governor of Virginia, Mr. Glenn Youngkin, has approved a US$300,000 grant from the Virginia Commonwealth’s Opportunity Fund to assist Halifax County with the project. The Virginia Tobacco Region Revitalization Commission approved a grant for US$573,000 from the Tobacco Region Opportunity Fund for the project.

The Company is also eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program. The Virginia Department of Environmental Quality, Virginia Department of Energy, and Virginia Clean Cities also oversee financial incentive programs that can support the Company’s commitment to decarbonization and the circular economy.