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Iondrive Limited (ASX:ION)

ALERT: Price-sensitive ASX Announcement for ION
Current share price for ION : $0.030 0.006 (25%)+
Announcement
Release
29 Jun 2026 8:37AM
Price at Release
$0.024
Full Release
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Summary
Iondrive Limited announced receiving support from the Oklahoma Department of Commerce for its first commercial deployment of the IONSolv™ platform in the U.S., marking a significant milestone in establishing a scalable rare earth recovery operation. The project is designed to align with U.S. strategies to secure domestic supply chains for critical minerals. With strong third-party verified recovery results, the initiative provides a scalable solution through modular deployment, backed by state incentives potentially worth up to US$15 million. The initiative is led by Kevin Hobbie, focusing on advancing the company's U.S. strategy and operational capabilities.
Key Points
  • Iondrive Limited has received a Letter of Support from the Oklahoma Department of Commerce for the development of its critical minerals processing and recycling module in Oklahoma, USA.
  • The IONSolv™ platform has been independently verified, showing strong recovery rates for rare earth elements such as neodymium, praseodymium, and dysprosium.
  • The proposed project aligns with U.S. initiatives to establish secure and domestic rare earth supply chains.
  • State incentives potentially worth up to US$15 million are available, supporting the commercial rollout of IONSolv™ modules.
  • Iondrive's modular approach allows scalable capacity growth, reducing execution risk.
  • The Oklahoma initiative strengthens Iondrive's position in the rare earth recovery market and supports domestic supply chain development.
  • Kevin Hobbie, VP of North America, has been instrumental in advancing Iondrive's engagement in Oklahoma.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.