The company said in a announcement that the financing will be provided through the Queensland Investment Corporation (QIC).
It will support the second phase of the 10 hectare construction of the first ever project in Gladstone, which aims to become the world’s largest single-site manufacturing facility.
According to Alpha HPA it is phase one of the project is already in production. Products include aluminum nitrate, HPA, nano-HPA and high purity aluminum hydroxides in small commercial quantities.
“QIC is proud to continue to support Alpha HPA as it advances its innovative HPA First and Sapphire Glass projects and strengthens its footprint in Queensland’s critical minerals sector,” said QIC Senior Investment Director Jonathan Crombie.
The investment was also supported by Australian Government financing partners Alpha HPA, Export Finance Australia and the Northern Australia Infrastructure Facility.
High-purity aluminum materials play a role in the energy transition, as they are used for technological innovations such as semiconductors to meet AI demand and lithium-ion batteries for electric vehicles.
In addition to manufacturing, the facility also has a testing laboratory to ensure process purity and quality control standards are met.
Alpha HPA also boasts that the first phase is operational 24 hours a day, runs on renewable energy and has created 70 full-time jobs in the local community, with 28 (40 percent) of employees being female.
“(Gladstone is) a city with a strong industrial background and one of the busiest multi-commodity ports in Australia,” said Rob Williamson, managing director of Alpha HPA.
During construction, phase two of the plant is expected to create more than 300 jobs. It is also planned to increase the annual production of the entire project to 10,000 tonnes of HPA equivalent.
Phase two is aimed at starting operations in 2027.
The company said it will create an additional 120 full-time jobs for the local community and the site will continue to run on renewable energy.
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Securities Disclosure: I, Gabrielle de la Cruz, have no direct investment interest in any company mentioned in this article.
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