Winner Water Services is joining Mobix Labs’ national-security electronics platform, bringing U.S.-based rare-earth processing into the supply chain for defence, aerospace, and advanced RF systems.
Special Project Delivery, Inc. (SPD) has entered into a definitive Business Combination Agreement with U.S.-based rare-earth company Winner Water Services Inc., dated 30 September 2026. Winner will join the National Security Matters (NSM) platform that SPD is assembling with Mobix Labs, Inc. (Nasdaq: MOBX), becoming the first operating company to join the platform through SPD.
Mobix Labs’ NSM initiative brings together defence and aerospace electronics, advanced RF sensing subsystems, rare-earth elements and critical minerals, and energy and critical infrastructure. The move links domestic critical-mineral processing with the materials supply chain supporting defence and advanced RF electronics.
Winner has developed a proprietary metallurgical process to recover rare-earth elements, scandium, and alumina from coal-ash impoundments. The company says the accessible domestic stockpile provides a first-mover advantage over newly developed rare-earth sources and could avoid the need to open new mines or wait for related permits.
Winner and its research partners have received $53 million through six consecutive U.S. Department of Energy and Department of Defense awards over 10 years, with each award building on the previous one’s outcomes. In August 2026, Winner broke ground on a rare-earth extraction demonstration plant at the National Carbon Capture Center in Wilsonville, Alabama.
Based in Sharon, Pennsylvania, Winner was formed in 2013 as a joint venture with a leading national research institute. Its technology has progressed from laboratory chemistry to a demonstration plant under construction.
The transaction is subject to shareholder approvals, registration statement effectiveness, Nasdaq requirements, and other customary conditions.
