IperionX and Vegas Fastener to Co-Produce Titanium Fasteners for U.S. Army

IperionX Limited (NASDAQ: IPX, ASX: IPX)and Vegas Fastener Manufacturing, LLC (Vegas Fastener) have agreed to partner to develop and manufacture titanium alloy fasteners and precision components with IperionX’s advanced titanium products.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240501104505/en/

Figure 1: High-performance fasteners manufactured by Vegas Fastener (Photo: Business Wire)

Vegas Fastener, headquartered in Las Vegas, Nevada, is a global leader in the development and manufacturing of high-performance fasteners and custom machined components. Together with its allied company, PowerGen Components, Vegas Fastener serves a diverse array of customers in the defense, marine, power generation, oil & gas, nuclear, chemical, and water infrastructure sectors. Vegas Fastener develops and manufactures precision high-performance fasteners using specialized alloys to meet demanding quality specifications.

IperionX and Vegas Fastener’s commercial focus is on developing and manufacturing titanium alloy fasteners and precision components for the U.S. Army Ground Vehicle Systems Center (GVSC), which is the United States Armed Forces' research and development facility for advanced technology in ground systems. GSVC’s research and development includes robotics, autonomy, survivability, power, mobility, intelligent systems, maneuver support and sustainment.

Additionally, the partners will design, engineer and produce titanium fasteners for critical sectors such as the aerospace, naval, oil & gas, power generation, pulp & paper and chemical sectors. These sectors demand fasteners that provide not only high strength-to-weight ratios but also exceptional corrosion resistance for high-performance applications.

The global market for industrial fasteners, valued at ~US$95 billion in 2023, is projected to grow at nearly 5% annually from 2024 to 2030¹. The U.S. is one of the largest fastener markets worldwide, with growth underpinned by strong demand for automation, aerospace, and other advanced industrial applications. Growing demand for lightweight vehicles and aircraft is leading to a shift to custom high-performance, light-weight fastener products.

IperionX’s leading titanium technology portfolio includes high-performance near-net shape titanium products, semi-finished titanium products, spherical titanium powder for additive manufacturing and metal injection molding, and angular titanium powder for a wide range of advanced manufacturing applications. These innovative patented technologies allow for world class leading sustainability and superior process energy efficiencies over the traditional Kroll titanium production process.