Titanium company investing $82.1M in Halifax County
Expansion to create 108 jobs
Charlotte, North Carolina-based IperionX Ltd., a minerals company that produces titanium metal powder for use in manufacturing, announced plans to establish Virginia’s first titanium demonstration facility in Halifax County, an investment of $82.1 million expected to create 108 jobs, Gov. Glenn Youngkin announced Tuesday.
The three-year project will be in two phases: The first is a $12.5 million investment in construction and production-related machinery and tools, and the second is a $69.6 million expansion. The facility will also mark the nation’s first titanium powder producer using 100% recycled scrap metal.
“We are thrilled to welcome IperionX to the commonwealth,” Youngkin said in a statement. “The new Halifax County operation will represent the first titanium metal powder facility in the U.S. using 100% recycled titanium scrap as feedstock, putting Virginia on the map for providing a critical material that is essential for our advanced industries. We look forward to supporting this forward-thinking company that will develop a new supply chain of titanium right here in the commonwealth while creating high-quality jobs.”
IperionX will initially occupy a 50,000-square-foot building in the Southern Virginia Technology Park, leased at $8 per square foot for 10 years, and will double its size in coming years. Titanium is a lighter metal than steel but is just as strong, and it’s used in many products, including automotive, defense, aerospace, electric vehicles and 3D printing. The company, founded in 2017 and formerly known as Hyperion Metals Ltd., also offers a fully U.S.-sourced, low-carbon titanium supply that it bills as lowering carbon emissions of products that include its titanium powder.
IperionX plans to develop the Halifax facility as a showcase for the intersection of titanium powder production with additive manufacturing and other powder metallurgy applications.
“We are delighted to have chosen South Boston and Halifax County as the site for our inaugural titanium demonstration facility, which is a critical step in advancing IperionX’s ambition to re-shore an all-American source of titanium metal,” Anastasios “Taso” Arima, founder and CEO of IperionX, said in a statement. “We are highly appreciative of the support and welcome that we have received from our partners and stakeholders in Virginia and look forward to establishing IperionX as a leader in advanced manufacturing in our new home.”
Arima previously founded Piedmont Lithium, also based in North Carolina, which produces lithium hydroxide, a chemical used in electric vehicle and battery storage production.
For the IperionX deal, Virginia competed against North Carolina, South Carolina and West Virginia . The company is listed on the Australian stock exchange and has been publicly trading on Nasdaq since June.
The Virginia Economic Development Partnership worked with Halifax County, the Southern Virginia Regional Alliance, the Virginia Department of Environmental Quality and the Virginia Department of Energy to secure the project for Virginia.
Youngkin approved a $300,000 grant from the Commonwealth’s Opportunity Fund to assist Halifax County, and the Virginia Tobacco Region Revitalization Commission approved a grant for $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, at no cost to IperionX.