IperionX (IPX) said Monday the US Army awarded it a second task order under an existing $99 million contract to develop low-cost, domestic titanium for defense applications.

The new task order has an $18.5 million base value, with $11.5 million currently funded. Options could raise the total value to $25.4 million, the company said.

IperionX said the funding will support equipment and manufacturing systems at its Virginia facility to expand production of titanium components such as track pins, bolts and fasteners for the US defense sector.