Business Wire
Mobix Labs to Acquire U.S. Rare Earth and Critical Minerals Company Powering Defense and National Security
Proposed acquisition would position Mobix Labs inside strategic U.S. supply chains powering defense, national security, and AI infrastructure.
Mobix Labs, Inc. (Nasdaq: MOBX) today announced it has signed a non-binding Letter of Intent to acquire Special Project Delivery LLC (SPD), a strategic infrastructure platform building sovereign U.S. supply chains for rare earth elements, critical minerals, and energy storage.
The proposed acquisition would expand Mobix Labs - already a supplier to advanced U.S. and allied defense and aerospace systems - directly into one of the world's most strategically important industrial sectors.
Key Facts at a Glance
Estimated rare earth materials used in each F-35 Lightning II.
Estimated rare earth materials used in each Virginia-class nuclear submarine.
New U.S. Department of Defense restrictions on certain Chinese-origin rare earth magnet materials are expected to accelerate allied demand.
NATO, AUKUS, and Five Eyes nations have publicly identified rare earth independence as a defining geopolitical priority.
Why This Moment Matters
In my decades leading Microsemi, I watched our defense and aerospace customers grow increasingly dependent on a narrow set of strategic materials they could not always source securely. Today, rare earths and critical minerals have become one of the defining competitive battlegrounds of the next decade. SPD is the right platform at exactly the right moment - federally aligned, technically validated, and assembled by an exceptional team. We believe the combination with SPD provides Mobix Labs and its shareholders substantial long-term opportunity.
James Peterson, Chairman of the Board of Mobix Labs and former Chief Executive Officer of Microsemi
A Platform Built for America's Critical Minerals Push
Founded in 2019, SPD has assembled a U.S. critical-minerals and energy platform aligned with the major federal initiatives reshaping the Western industrial base - including Project Vault, the recently announced $12 billion U.S. Export-Import Bank public-private partnership for critical-resource resilience, the Defense Production Act, and the DOE Loan Programs Office.
SPD's work includes recovery of rare earth elements from underutilized domestic feedstock - including legacy U.S. coal ash - using extraction technologies validated by U.S. defense-research partners. SPD is publicly aligned with the U.S. Departments of Energy and Defense, Lawrence Berkeley National Laboratory, two of the largest U.S. utility participants, and three institutional financial partners.
SPD is led by Co-Founder and CEO Paul Singarella, a former Latham & Watkins partner trained at MIT, and Co-Founder and CFO John Dewey, who brings over $2 billion of cumulative infrastructure-development responsibility.
No F-35. No Submarine. No Missile. Without Rare Earths.
There is no F-35 Lightning II without rare earth materials. No F-22 Raptor. No F/A-18. No Virginia-class submarine. No Arleigh Burke-class destroyer. No Patriot or THAAD interceptor. No Tomahawk. No Javelin. No advanced radar. No defense satellite. No AI data center.
Rare earths and critical minerals are increasingly viewed as the oil of the modern defense, aerospace, AI, and advanced-industrial economy - and the same platforms that depend on them already incorporate Mobix Labs technologies today.
An American-Led Supply Chain Backed by Washington and Our Allies
From the United States and United Kingdom to Australia, Canada, Japan, South Korea, and India, allied nations are racing to build independent, non-China supply chains for strategic materials. The proposed Mobix-SPD combination would sit directly inside that transformation.
SPD was built to onshore the materials, technologies, and infrastructure defining national sovereignty in the 21st century - rare earths, critical minerals, and the energy systems powering the AI Industrial Revolution. A combination with Mobix Labs would pair our platform directly with a publicly traded defense and dual-use technology company already operating inside the defense and aerospace ecosystems our materials are built to supply.
Paul Singarella, Co-Founder and CEO of SPD
Transaction Status
The Letter of Intent with SPD is non-binding and establishes a framework for due diligence and negotiation of definitive agreements. No assurance can be given that a definitive agreement will be executed or that the proposed transaction will be completed.
About Mobix Labs
Mobix Labs, Inc. (Nasdaq: MOBX) is a defense and dual-use technology company headquartered in Irvine, California, supplying advanced components and wireless technologies to aerospace, defense, homeland security, and other high-reliability applications.
About Special Project Delivery LLC
Special Project Delivery LLC (SPD) is a privately held U.S. infrastructure development platform with positions across critical minerals, energy storage, and Western U.S. water infrastructure. SPD was formed in 2019 and is headquartered in Newport Beach, California.
Forward-Looking Statements
This press release contains forward-looking statements regarding the proposed acquisition of Special Project Delivery LLC. The Letter of Intent is non-binding, and there can be no assurance that the parties will execute a definitive agreement, that the proposed transaction will be completed, or that anticipated strategic, commercial, or financial benefits will ultimately be realized.