US-based titanium producer IperionX plans to raise $47mn to bolster its domestic supply chains and increase output of angular titanium powder to 2,000 metric tonnes (t)/yr by the end of 2026.
The company also will use some of the money increase its phase one operations beyond the 125 t/yr nameplate capacity of its modular furnace technology.
Additionally, IperionX plans to build out forging capabilities, as it seeks to grow its product portfolio by offering both semi-finished products and near-net-shape parts. Potential customers completed inspection and pre-qualification visits to IperionX's manufacturing campus in Virginia during the latest quarter, the company said.
The funding would come through a private placement, with the first tranche expected to be completed "on or about" Tuesday.
The second tranche — geared toward IperionX's directors — is subject to shareholder approval.
