Iondrive Ltd (ASX:ION) has appointed former BHP head of innovation Dr Grant Caffery as chief executive officer as the critical minerals technology company moves toward commercial deployment of its IONSolv™ metal extraction platform.
Caffery will begin the role on August 1, 2026, bringing experience in technology development, commercialisation and global resources operations.
The appointment follows six months of progress under outgoing CEO Lewis Utting, including independently verified rare earth recovery results, a potential US government funding pathway and advancing feedstock and offtake discussions.
Leadership structured for commercial scale-up
Caffery most recently led the identification, development and commercial application of new technologies across BHP’s global operations.
Iondrive said his experience building partnerships between resources companies, technology developers and research organisations would support the company’s transition from technology development to commercial production.
Utting will move into the newly created role of chief strategy and commercial officer, retaining responsibility for strategic partnerships, government engagement, financing, licensing opportunities, mergers and acquisitions and international expansion.
Chairman Michael McNeilly said Caffery’s appointment strengthened Iondrive’s executive capability as the company prepared to scale the IONSolv platform.
“His track record leading innovation and commercialisation within one of the world’s largest resources companies is exactly what Iondrive needs as it scales into production,” McNeilly said.
Oklahoma deployment pathway advances
Iondrive is progressing plans for its first commercial deployment in Oklahoma, where a letter of intent with the Oklahoma Department of Commerce provides a pathway to funding support with a target aggregate value of up to US$15 million.
Around US$5.2 million of that potential support is associated with the first module of the proposed Oklahoma facility.
The company is also advancing negotiations covering feedstock supply, product offtake and strategic partnerships across North America, Europe and Australia.
Iondrive said this progress addressed three major commercial requirements for rare earth recycling projects: securing feedstock, validating processing performance and establishing a route to market.
Wet commissioning of its pilot plant remains targeted for the fourth quarter of 2026 following design enhancements intended to accommodate a wider range of inputs, including e-waste and solar cells.
Verified rare earth recovery performance
IONSolv has demonstrated independently verified recoveries of neodymium, praseodymium and dysprosium from commercial e-waste feedstock.
The company previously reported a dysprosium recovery rate of 93.5%, supporting its strategy to establish a circular supply chain that converts waste materials into recovered rare earth products.
Incoming CEO Caffery said Iondrive had established the foundations required to execute its commercial strategy at scale.
“Independently verified, industry-leading processing performance, a defined US deployment pathway and surging global demand for secure rare earth supply — the foundations are firmly in place,” he said.
About Iondrive
Iondrive is developing IONSolv, a proprietary metal extraction platform designed for the selective recovery of critical minerals from multiple feedstocks.
The technology is being advanced for scalable applications across rare earths, battery materials and e-waste, with potential deployment across North America, Australia and Europe.