Mobix Labs, Inc (Nasdaq: MOBX), a defense and dual-use technology company supplying advanced components to aerospace and national security sectors, has signed a non-binding Letter of Intent to acquire Special Project Delivery LLC (SPD), a US based infrastructure platform focused on rare earth elements, critical minerals and energy storage systems. The proposed acquisition is expected to position Mobix Labs directly within one of the most strategically significant industrial sectors globally as governments and allied nations intensify efforts to secure independent supply chains for critical materials used in defense, aerospace and advanced technology manufacturing.
Rare earth materials play an essential role in a broad range of defense platforms and advanced industrial applications. Industry estimates indicate that an F-35 Lightning II fighter aircraft requires nearly 418 kilograms of rare earth materials, while a Virginia-class nuclear submarine uses approximately 4,500 kilograms. These materials are also critical for advanced radar systems, missile defense technologies, satellites, AI infrastructure and energy storage systems.
The proposed transaction comes amid growing global concern over concentrated rare earth production and refining capabilities. China currently controls major portions of the world’s rare earth mining and processing capacity, prompting the United States and allied nations to accelerate investments in domestic and diversified supply chains.
James Peterson, former Chief Executive Officer of Microsemi Corporation, said the acquisition opportunity aligns with the strategic priorities of defense and aerospace customers seeking secure access to essential materials. He noted that rare earths and critical minerals have emerged as a defining geopolitical and industrial battleground for the next decade.
Founded in 2019, SPD has developed a US-based platform aligned with major federal initiatives supporting critical resource resilience, including Project Vault, the Defense Production Act and the U.S. Department of Energy’s Loan Programs Office. SPD’s work includes recovery of rare earth elements from domestic feedstock sources, including legacy coal ash deposits, using extraction technologies validated through defense research collaborations. The company is also working alongside U.S. government agencies, utility companies and institutional financial partners to strengthen domestic resource infrastructure.
The company is led by Paul Singarella, a former partner at Latham & Watkins LLP trained at Massachusetts Institute of Technology, and Co-Founder and CFO John Dewey, who has overseen more than $2 billion in cumulative infrastructure development initiatives. Mr Singarella said SPD was established to help build sovereign industrial infrastructure around rare earths, critical minerals and energy systems that are increasingly central to the modern industrial economy. He added that combining with Mobix Labs would create stronger integration between critical materials infrastructure and defense technology ecosystems.
The proposed acquisition also reflects a broader geopolitical shift among allied nations including the United States, United Kingdom, Australia, Canada, Japan, South Korea and India, all of which are pursuing strategies to reduce dependence on China-centric supply chains. Industry observers expect new US Department of Defense restrictions on certain Chinese-origin rare earth magnet materials beginning in 2027 to further accelerate demand for alternative suppliers and allied production networks.
Mobix Labs believes the proposed transaction could create long-term opportunities to participate more directly in the rapidly expanding critical minerals sector while strengthening supply chain resilience for strategic defense technologies already supported by the company’s existing component and wireless technology portfolio.
The Letter of Intent between Mobix Labs and SPD remains non-binding and is currently subject to due diligence and negotiation of definitive agreements. The companies stated that there can be no assurance that a final agreement will be completed or that the transaction will ultimately close.
Mobix Labs Inc is a California-based defense and dual-use technology company headquartered in Irvine, specializing in advanced components and wireless technologies for aerospace, defense, homeland security, and other mission-critical applications requiring high reliability and performance. The company serves customers across strategic sectors by delivering next-generation connectivity and electronic solutions designed for demanding operational environments.
Special Project Delivery LLC is a privately held infrastructure development platform headquartered in Newport Beach, California. Established in 2019, the company focuses on strategic investments and development initiatives across critical minerals, energy storage, and water infrastructure projects in the western United States, supporting long-term infrastructure resilience and resource sustainability.
