CANYON AND IPERIONX PARTNER TO INVESTIGATE SUSTAINABILITY IMPROVEMENTS IN THE BICYCLE INDUSTRY SUPPLY CHAIN
KOBLENZ, GERMANY | EMBARGO: TUESDAY 28 MARCH 2023, 14:00 (CEST) — Canyon Bicycles has announced a collaboration agreement with IperionX Limited (“IperionX”) (Nasdaq | ASX: IPX) to develop a more sustainable titanium supply chain through the production of bicycle components using IperionX’s 100% recycled and low carbon titanium.
Canyon has a strong reputation for true innovation, implementing leading technologies, clean and clear design as well as the highest standards in quality and service. The potential to develop bicycle components utilizing IperionX’s 100% recycled titanium is aligned to its ambitions to drive the use of innovative material in the production process, and to match that with its environmental goals.
IperionX is working closely with Canyon’s product development and ESG teams to produce bicycle components using IperionX’s low-carbon, recycled titanium metal powders via additive manufacturing methods. The parties have agreed upon an initial project to prototype Canyon bicycle parts, including for bicycle frames, using IperionX’s 100% recycled titanium produced by IperionX via additive manufacturing methods.
Titanium as a frame material has a premium and desirable position for bicycle consumers, being both very strong and lightweight, including around half the weight of steel, as well as being extremely corrosion resistant, removing the requirement for paint as a corrosion inhibitor. However, until now, its utilization in bike components has been limited by its high cost compared to materials such as carbon frames, as well as the high-carbon footprint of the current titanium supply chain, which is based on the energy-intensive Kroll process.
The partnership between IperionX and Canyon represents another milestone in the rapidly growing, highly visible and sustainability focused global bicycle market, and complements IperionX’s recent partnerships in the luxury goods sector.
We’re delighted to have formed this working relationship with IperionX. Connecting IperionX to our product development and ESG teams is allowing us to identify bicycle components that can be produced using their low-cost, low-carbon, fully recycled titanium powders. This is a real breakthrough technology for us and we look forward to deploying this innovative technology in the production of more sustainable titanium for use in Canyon bicycles.Alison Jones, Canyon Chief Operating Officer
Our partnership with Canyon highlights the importance of fully circular, sustainable materials to customers with leading environmental goals. We are very pleased to be applying the patented technologies to create 100% recycled titanium parts for a leading company in a very large addressable market, and we look forward to progressing the partnership towards the extended use of titanium in bicycle production.Anastasios (Taso) Arima, IperionX CEO and Managing Director
1. For further information and enquiries to IperionX please contact: info@iperionx.com, +1 704 461 8000 or visit www.iperionx.com
About Canyon
What started in founder Roman Arnold’s garage has grown into the world’s leading direct-to-consumer bicycle manufacturer. Renowned as one of the most innovative brands in the industry, Canyon designs bikes for every discipline – from road, triathlon and gravel to mountain, city, trekking, and e-bikes.
Canyon partners with the finest athletes and teams on the planet, taking insights from the toughest race conditions to engineer bikes and components for the highest levels of the sport. The result: award-winning bikes that set the standard for performance, innovation, and engineering – built to deliver at the highest level on any terrain.
“Inspire to Ride” is the mission driving Canyon to ignite a passion for cycling around the world thanks to a streamlined direct-to-consumer model, smart digital services, and Canyon Stores and service partners offering expert advice, community experiences, and full support. At the same time, Canyon is committed to responsible business practices, sustainable production, and the safety and well-being of employees, partners, and the environment.
Canyon bikes are available at canyon.com, through the Canyon app, and at selected Canyon Stores worldwide.
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