Leadership shift comes as Iondrive pushes IONSolv towards pilot plant

Former BHP Head of Innovation Dr Grant Caffery will become chief executive of Iondrive on 1 August 2026, taking charge as the ASX-listed company commercialises its IONSolv critical minerals processing technology.

Iondrive announced the appointment on 20 July 2026 in Adelaide, Australia. The company trades on the ASX under the code ION.

Lewis Utting, the outgoing chief executive, will become Chief Strategy & Commercial Officer. He will keep responsibility for commercial strategy, government engagement, financing, mergers and acquisitions, and international expansion.

During the past six months, Iondrive built a pipeline of feedstock supply, product offtake and strategic partnership opportunities across North America, Europe and Australia. That work came as Utting focused on accelerating commercialisation and expanding the company’s United States presence.

Oklahoma funding and pilot plant

In the US, Iondrive secured a Letter of Intent with the Oklahoma Department of Commerce. The document sets a pathway to funding support with a target aggregate value of up to US$15 million.

The company also reported independently verified recoveries of neodymium, praseodymium and dysprosium using its IONSolv platform. Those results support Iondrive’s rare earth recycling and critical minerals processing plans.

Meanwhile, wet commissioning of the pilot plant remains targeted for the fourth quarter of calendar 2026. Iondrive linked that timetable to design enhancements intended to broaden processing flexibility and manage development costs.

Caffery brings experience in innovation, technology commercialisation and the global resources sector. At BHP, he led the development and commercial application of new technologies across one of the world’s largest mining companies.

Chairman Michael McNeilly said Utting took the top role earlier in 2026 with a brief to speed up commercialisation and lay foundations for global growth while the board searched for a longer-term chief executive.

McNeilly said: “Iondrive is a fundamentally different company today, independently validated, with a defined pathway to government funding support and commercial momentum that is building on both the supply and offtake sides of its first deployment.”

According to Iondrive, the leadership change comes at a pivotal stage as the company advances toward first commercial production in rare earth recycling and critical minerals processing.

Caffery tied his priorities to the Oklahoma project and broader international growth. He said Iondrive plans to replicate its commercial model with new partners and in new geographies.

He said: “I look forward to working alongside Lewis, Kevin and the Board and the broader team to deliver the Oklahoma project, replicate the commercial model across new partners and geographies, and establish Iondrive as a globally significant participant in the rare earth circular economy.”