6-K - IPX - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16 of the

Securities Exchange Act of 1934

Date: April 20, 2023

Commission File Number: 001-41338

IperionX Limited

(Translation of registrant’s name into English)

129 W Trade Street, Suite 1405

Charlotte, North Carolina

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

EXHIBIT INDEX

The following exhibits are filed as part of this Form 6-K:

Exhibit	Description
99.1	Press Release
99.2	Corporate Presentation

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	IPERIONX LIMITED
	(registrant)
Date: April 20, 2023	By:	/s/ Gregory Swan
Name:	Gregory Swan
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Title:	Chief Financial Officer

Exhibit 99.1

PRESS RELEASE	NASDAQ: IPX	ASX: IPX<br><br> <br><br><br> <br>April 20, 2023

IPERIONX GREEN HYDROGEN MARKET ASSESSMENT

▪	Green hydrogen production is forecast to surge by over 1,000x by 2030, driven by the increasing demand for clean energy
▪	Titanium is an essential material for the PEM electrolyzers used in green hydrogen production and for hydrogen fuel cells
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▪	The potential global titanium demand from green hydrogen could be as large as the entire current global titanium market by 2050.
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▪	Significant U.S. Government incentives underpin near term growth in green hydrogen, providing opportunities for U.S. regions to be amongst the lowest cost global hydrogen producers
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▪	To ensure the hydrogen economy is more affordable and more sustainable, the U.S. needs to re-shore low carbon titanium and close the loop of the supply chain by recycling titanium metal.
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▪	IperionX’s patented titanium technologies provides a pathway to low carbon, sustainable production of titanium metal, using 100% scrap titanium as feedstock.
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IperionX Limited (“IperionX” or “Company”) (NASDAQ: IPX, ASX: IPX) is pleased to release a presentation on green hydrogen and the critical importance of titanium metal to successfully scale this high growth market.

Green hydrogen production is forecast to surge by over 1,000x by 2030, driven by the increasing demand for clean energy, the need to reduce greenhouse gas emissions and record government incentives to accelerate the scale-up green hydrogen. Titanium is an essential material for the PEM electrolyzers used in green hydrogen production and for hydrogen fuel cells that will power automotive, truck and bus transportation, as well as marine, aerospace and military applications.

The attached presentation highlights that the potential global demand from green hydrogen could be as large as the entire current global titanium market by 2050. Significant U.S. Government incentives, such as the Inflation Reduction Act, also underpin near term growth in green hydrogen, providing opportunities for U.S. regions rich in plentiful renewable energy sources to be amongst the lowest cost global hydrogen producers.

Titanium metal for green hydrogen is currently sourced over long distances from high carbon supply chains with traceability issues. To ensure the hydrogen economy is more affordable and more sustainable – the U.S. needs to re-shore low carbon titanium production and close the loop of the supply chain by recycling titanium metal.

IperionX’s patented titanium technologies provides a pathway to low carbon, sustainable production of titanium metal, using 100% scrap titanium as feedstock. IperionX already produces high quality titanium powder from titanium scrap at an industrial pilot production facility in Utah, U.S. To meet the demand for sustainable and lower cost titanium metal, IperionX has advanced plans to build a larger Titanium Demonstration Facility in South Boston, Virginia.

This announcement has been authorized for release by the CEO and Managing Director.

For further information and enquiries please contact:

info@iperionx.com

+1 704 461 8000

www.iperionx.com

North Carolina<br><br> <br>129 W Trade Street, Suite 1405<br><br> <br>Charlotte, NC 28202	Tennessee<br><br> <br>279 West Main Street<br><br> <br>Camden, TN 38320	Virginia<br><br> <br>1030 Confroy Drive <br> <br>South Boston, VA 24592	Utah<br><br> <br>1782 W 2300 S<br><br> <br>West Valley City, UT 84119

About IperionX

IperionX’s mission is to be the leading developer of low carbon titanium for advanced industries including space, aerospace, electric vehicles and 3D printing. IperionX holds

  an exclusive option to acquire breakthrough titanium technologies that can produce titanium products that are low carbon and fully circular. IperionX is producing titanium metal powders from titanium scrap at
    its operational pilot facility in Utah, and intends to scale production at a Titanium Demonstration Facility in Virginia. IperionX holds a 100% interest in the critical minerals Titan Project, which has the largest JORC resource of titanium, rare
    earth and zircon rich mineral sands in the U.S.A.

Forward Looking Statements Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs. Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, and achievements to differ materially from any future results, performance, or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, the Company’s ability to comply with the relevant contractual terms to access the technologies, commercially scale its closed-loop titanium production processes, or protect its intellectual property rights, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control. Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements, or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

Contacts

Anastasios (Taso) Arima, Founder and CEO

Toby Symonds, President

Dominic Allen, Chief Commercial Officer

Investors: investorrelations@iperionx.com

Media: media@iperionx.com

+1 980 237 8900

www.iperionx.com

Exhibit 99.2

Green Hydrogen Market Assessment “The Green hydrogen market needs low carbon and sustainable titanium” April 2023

Disclaimers 2 Forward Looking Statements Information included in this presentation constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs. Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control. Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based. Cautionary Statements and Important Information This presentation has been prepared by the Company as a summary only and does not contain all information about assets and liabilities, financial position and performance, profits and losses, prospects, and the rights and liabilities attaching to securities. Any investment in the Company should be considered speculative and there is no guarantee that they will make a return on capital invested, that dividends would be paid, or that there will be an increase in the value of the investment in the future. The Company does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this presentation. Recipients of this presentation should carefully consider whether the securities issued by the Company are an appropriate investment for them in light of their personal circumstances, including their financial and taxation position. About IperionX IperionX’s mission is to be the leading developer of low carbon titanium for advanced industries including space, aerospace, electric vehicles and 3D printing. IperionX holds an exclusive option to acquire breakthrough titanium technologies that can produce titanium products that are low carbon and fully circular. IperionX is producing titanium metal powders from titanium scrap at its operational pilot facility in Utah, and intends to scale production at a Titanium Demonstration Facility in Virginia. IperionX holds a 100% interest in the critical minerals Titan Project, which has the largest JORC resource of titanium, rare earth and zircon rich mineral sands in the U.S.A. IPERIONX LIMITED ABN 84 618 935 372

Green hydrogen market analysis: Titanium 1. Refer to details on slides 4, 6 and 9. 3 The green hydrogen market is forecast to rapidly accelerate and may see global production growth of +1,000x by 20301 These forecasts are underpinned by powerful government subsidies and incentives for green hydrogen production, including from the Inflation Reduction Act and the EU Hydrogen Bank1 This generational scale-up in green hydrogen is likely to drive record demand for Proton Exchange Membrane (PEM) hydrogen electrolyzers and fuel cells – and these technologies require large quantities of titanium metal Titanium’s high strength-to-weight ratio, corrosion resistance and durability are essential for robust, long-life and efficient hydrogen PEM electrolyzers and fuel cells The global titanium demand from green hydrogen alone has the potential to exceed the entire current global titanium sponge market by 2050 under IperionX’s upside demand scenario estimates1 To make the green hydrogen economy more affordable and sustainable, the U.S. needs to domestically re-shore titanium production and close the supply chain loop by recycling titanium metal

The green hydrogen market Forecast to rapidly accelerate, with potential for green hydrogen production growth of +1,000x by 2030 Adapted from IEA - Future of Hydrogen (2019), IEA Net Zero by 2050: a roadmap for the global energy system (2021), and Global Hydrogen Review (2021). Green Hydrogen shown as hydrogen production from electrolysis. 4 World hydrogen production1 (million tons H2/yr)

What is green hydrogen? Green hydrogen uses net-zero carbon or renewable energy 5 Hydrogen production via Proton Exchange Membrane (PEM) electrolysis2 Green hydrogen is efficiently produced when renewable energy is used to split water into hydrogen and oxygen via water electrolysis A hydrogen fuel cell works using the inverse operation, combining hydrogen and oxygen to create electricity with water as a by-product Creating hydrogen consumes a lot of energy in splitting the hydrogen from oxygen, creating a highly corrosive environment Leading companies, such as Toyota, use titanium for electrolysis stack components to improve the durability of equipment attributed to titanium’s high corrosion resistance Titanium’s high strength-to-weight is also important to improve the power density of fuel cells used for transportation Hydrogen production by type1 GREY HYDROGEN BLUE HYDROGEN TURQUOISE HYDROGEN GREEN HYDROGEN Source: International Renewable Energy Agency. Source: Toyota (image link).

Source: Rocky Mountain Institute – Fuelling the Transition: Accelerating Cost Competitive Green Hydrogen (2021). Figures shown are after RMI’s assumed near term cost reduction, excluding IRA Act incentives. 6 Government incentives underpin growth in green hydrogen U.S. Inflation Reduction Act incentives ~$370 b Funding to address U.S. energy security and climate change U.S. Inflation Reduction Act Up to $3 / kg Clean hydrogen production tax credit Clean Hydrogen Production Tax Credit (Section 45V) Up to 30% Capex tax credit Advanced Energy Project Credit (Section 48C) Estimated cost of green hydrogen production & storage1 (US$/kg H2) U.S. Inflation Reduction Act incentives provide the opportunity for U.S. regions rich in renewable energy sources, like Texas, to be the lowest cost producer globally Conceptual negative cost of production inclusive of $3.00/kg IRA Act tax credit Houston, U.S.

Titanium is fundamental for green hydrogen Titanium is a critical material for green hydrogen due to its corrosion resistance, durability and strength 7 PEM water electrolyzer stack components2 Titanium PTL components (mesh / porous layer) PEM Sealant Titanium bipolar plate Insulator Compression plate End plate Titanium Stainless steel Aluminum Copper Iridium Platinum Indicative raw material intensity in a PEM water electrolyzer stack1 (g/kW electrolyser capacity) >400g ~100g <50g <5g <1g <0.5g Source: Adapted from Kay Bareiß et al, Applied Energy, 237, 862-872, 2019. Source: Adapted from Selamet, O.F. et al., Int. J. Hydr. Energ., 36, 11480— 11487. 2011.

Titanium components in PEM electrolyzers 8 Titanium is essential for key Proton Exchange Membrane (PEM) electrolyzer components, including bipolar plates and Porous Transport Layers (PTL), due to its superior corrosion resistance, durability and strength PTLs for electrolyzers use spherical and angular CP titanium powder1 IperionX’s titanium technologies can produce low carbon, 100% recycled spherical and angular powder using scrap titanium as feedstock Major western PEM hydrogen electrolyzer producers Manufacturer 2023 capacity (GW) Country Electrolyzer type Market cap. (US$) Plug Power 3.0 USA PEM $5.3 billion ITM Power 2.5 UK PEM $0.6 billion Ohmium 2.0 USA PEM Private Cummins 1.6 USA PEM $33.2 billion Siemens (Energy) 1.3 Germany PEM $18.7 billion Nel 0.6 Norway Alkaline / PEM $2.1 billion BloombergNEF’s list of the world’s largest PEM hydrogen electrolyzer makers2 Titanium Porous Transport Layer (PTL) Bipolar plate Source: Industrial Manufacturing Technologies of Porous Transport Layers for a Proton Exchange Membrane Electrolyser, Ornetzeder, 2020. Source: BloombergNEF ‘A Breakneck Growth Pivot Nears for Green Hydrogen’ – November 2022.

Green hydrogen demands more titanium Potential for rapid increase in titanium demand to meet electrolyzer and fuel cell scale-up 9 Estimated titanium annual demand1 (metric tons) Rapid increase in titanium demand +1,000x growth to 2030 Green hydrogen demand growth forecast3 +300 kt potential demand by 2040 Titanium demand from green hydrogen alone has the potential to exceed the entire current global titanium sponge market by 2050 under upside estimates1 Titanium recycling provides a responsible, lower cost and ethical supply for the hydrogen market. ESG and consumer expectations demand a low carbon, circular solution IperionX proprietary estimates for implied titanium demand from hydrogen PEM electrolysers and hydrogen fuel cell in electric vehicles. Sources: IEA Global Hydrogen Review (2022); IEA Net Zero by 2050: a roadmap for the global energy system (2021); Federal Ministry of Transport and Digital Infrastructure - Industrialization of Water Electrolysis in Germany (2018). Upside Case assumes 50% of IEA's forecasted Electrolyzer production is attributable to Proton Electrolyte Membrane electrolyzers requiring titanium in the BiPolar Plates and Porous Transport Layer components, and 95% of forecasted manufacturing capacity is used to produce electrolyzers. Assumes that 50% of IEA's forecasted Fuel Cell EVs require approximately 300 fuel cells each with titanium-intensive BiPolar Plate components. Assumes 8% light vehicle FCEV penetration, 16% e-bus, and 16% heavy-duty vehicle FCEV penetration into global EV market figures by 2050. Wright’s Law scenario assumes that 10% material intensity savings accrue with each doubling of global PEM capacity. Source: U.S. Geological Survey. Source: IEA Net Zero by 2050: a roadmap for the global energy system (2021).

10 Global titanium sponge capacity1 Global 2022 titanium sponge production2 % Rest of World – 32% China – 58% Russia – 10% High risk global titanium supply chain ~70% of global titanium production is controlled by China and Russia, and demands careful supply chain risk analysis and traceability Chinese 2022 titanium sponge production by location3 % Rest of China – 80% Xinjiang Autonomous Region – 20% Titanium supply from China demands careful traceability analysis Source: Roskill. Locations shown are approximate. Excludes facilities with less than 5,000tpa capacity. Source: U.S. Geological Survey. Source: U.S. Geological Survey and Xiangrun New Material Technology Co., Ltd.

IperionX offers a potential pathway to produce lower cost 100% recycled titanium metal for the green hydrogen market in the U.S. – driving down the carbon intensity, reducing geopolitical and supply chain risks and creating a circular supply chain Sources: Bloomberg BEF, IEA Global Hydrogen Review (2022), Global Trade Tracker. Note: Locations shown are approximate. Listed titanium mineral producers, titanium sponge production centers, PEM electrolyzer manufacturing locations, and major hydrogen end users are not exhaustive. 11 Titanium sponge production Titanium mineral production Major hydrogen end users PEM electrolyser manufacturing (>1GW) The current 30,000+ mile titanium global supply chain Unsustainable supply chain that is high carbon, high cost and high risk

Titanium for the green hydrogen market Affordable, lower cost and sustainable titanium is required for a successful green hydrogen market Green hydrogen production is forecast to expand by over 1,000x by 2030 – and is underpinned by record government subsidies1 The global titanium demand from green hydrogen alone has the potential to exceed the entire current global titanium sponge market by 2050 under IperionX’s upside demand scenario estimates1 Titanium for green hydrogen is currently sourced over long distances from high carbon, risky supply chains with traceability issues To make the hydrogen economy more affordable and sustainable – the U.S. needs to re-shore low carbon titanium production and close the loop of the supply chain by recycling titanium metal Titanium production from recycling provides a responsible, lower cost and ethical supply for the green hydrogen market. ESG and consumer expectations demand a low carbon, circular titanium supply chain – and as with EV’s, recycling will become mandatory and will require minimum recycled content within a decade We believe that IperionX is the solution for lower cost, sustainable titanium for the green hydrogen market 1. Refer to details on slides 4, 6 and 9. 12

A sustainable, affordable and circular titanium supply chain for the U.S. Further information contact: info@iperionx.com