Hyperion’s $24m raise puts wind behind its titanium metal tech
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Hyperion has received firm commitments from investors for a $24m placement to advance its patented titanium metals technologies.
Notably, Fidelity Management & Research Company – one of the largest investment management firms in the US with over 26 million customers and US$6.5 trillion in total customer assets – was the cornerstone investor for the placement of 20 million shares priced at $1.20 per share.
Proceeds will be used to accelerate the scale-up and commercialisation of Hyperion Metals’ (ASX:HYM) patented titanium metal and metal powder technologies and its Titan critical minerals project in Tennessee, US.
The company has an exclusive licence to produce low carbon titanium metal and spherical powders using the breakthrough HAMR & GSD technologies that were invented by Dr Z. Zak Fang and his team at the University of Utah with government funding from ARPA-E.
“We are extremely pleased to welcome Fidelity as a key shareholder in Hyperion Metals, and for the outstanding support from institutional, sophisticated and professional investors,” managing director Anastasios Arima said.
“Hyperion’s mission is to produce zero carbon, low-cost titanium metals and powders with an all-American, sustainable, and fully traceable supply chain.
“The proceeds from the placement will allow us to accelerate our plans to become a leading zero carbon materials supplier to the aerospace, space, EV and defence sectors.”
The HAMR process has demonstrated the potential to produce high-quality titanium powders that exceed current industry standards with low-to-zero carbon intensity, lower energy consumption and significantly lower costs. This provides the potential for titanium, a metal with superior strength, weight and corrosion characteristics, to disrupt the enormous stainless steel and aluminium markets.
Meanwhile, the GSD technology is a thermochemical process combining low-cost feedstock material with high yield production that can produce spherical titanium and titanium alloy powders at a fraction of the cost of comparable commercial powders.
These technologies have strong synergies with the company’s Titan critical minerals project in Tennessee, protective for titanium, zircon, rare earths and other industrial minerals.
Recent drilling by Hyperion had intersected thick, high-grade intercepts of total heavy minerals (THM) with notable hits of 15.2m at 6.5% THM and 13.7m at 4.3% THM within a broader 48.8m intersection at 3.3% THM as well as 7.6m at 7% THM and 13.7% THM within a 42.7m zone grading 3.7% THM.
Test work has also confirmed the potential of the project to produce a high-value mixed heavy and light rare earths product to be produced from monazite and xenotime minerals, including elements highly critical to advanced U.S. industries and defense, being neodymium, praseodymium, dysprosium and terbium.
This article was developed in collaboration with Hyperion Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.