Mobix Labs signs all-stock deal to acquire pre-revenue SPD, targeting rare earth, critical mineral, and water infrastructure exposure across U.S. defense
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Special Project Delivery LLC
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About Special Project Delivery LLC
Special Project Delivery LLC (SPD) is a privately held U.S. infrastructure development company headquartered in Newport Beach, California, focused on building sovereign domestic supply chains for rare earth elements, critical minerals and energy storage. Founded in 2019, SPD develops platforms across critical minerals, energy systems and Western U.S. water infrastructure. In the rare-earth sector, the company specialises in recovering rare earth elements from underutilised and unconventional U.S. feedstock sources, including legacy coal ash, using extraction technologies validated with defense research partners. This positions SPD in the downstream processing and recovery segment of the supply chain rather than primary mining. In May 2026, Nasdaq-listed defense and dual-use technology firm Mobix Labs (MOBX) announced a non-binding letter of intent to acquire SPD, aiming to expand into the strategically critical rare-earth and critical-minerals sector supporting U.S. defense, national security and AI infrastructure. Financial terms were not disclosed.
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Mobix Labs' SPD acquisition targets critical minerals supply chain independence, but China's dominance in processing remains the real bottleneck.
