IperionX Limited, based in Charlotte, North Carolina, USA, has entered a commercial partnership agreement with Italy’s Officine Panerai, a branch of Compagnie Financière Richemont SA, Switzerland, to produce unique high-end watches from IperionX’s sustainable, fully recycled titanium.
IperionX has worked closely with Panerai’s product and technical teams to identify suitable watch designs to be additively manufactured using its titanium metal powders. The company has produced prototype watch blanks for Panerai that have passed the rigorous metallographic testing and surface quality requirements for the luxury market, and will commence Additive Manufacturing of a watch case for a limited edition design that will be released to market in 2023.
“Panerai has steadily expanded its efforts to promote sustainable practices through operational, outreach, and educational initiatives to maintain a sustainable environment and healthy oceans,” stated Anthony Serpry, Research and Development Director at Panerai.
IperionX and Panerai will continue to work on additional watch designs that will incorporate additional sales agreements for future watch designs.
“IperionX’s fully recycled titanium provides a way for Panerai to produce top of the line luxury goods with sustainable titanium which provides a high end experience for our customers. Panerai is leading the way for luxury brands in both quality and sustainability. The next generation metals such as IperionX’s fully recycled titanium will enable Panerai to deliver on both quality and sustainability,” added Serpry.
The agreement is said to represent an important milestone for IperionX, as it enters the fast-growing luxury goods market. The company sees significant potential to establish a low carbon, closed loop and circular supply of titanium, which is superior to existing aluminium and stainless steel applications in these markets.
Anastasios (Taso) Arima, IperionX’s CEO and Managing Director, stated, “Panerai and Richemont have been leaders in the application of titanium metal alloys in luxury watches, and they are again leading the market to build a low carbon, circular supply chain using IperionX’s superior titanium product range.”
“Our partnership agreement with Panerai represents a major milestone in the luxury goods sector. For IperionX this demonstrates the potential in other consumer facing sectors which are demanding fully recycled and sustainable, low carbon materials. One of the most exciting sectors are the high growth markets in smart watch, wearable device and smartphone markets,” concluded Arima.