Alpha HPA Limited has secured $30 million in funding from the Queensland Government’s Critical Minerals and Battery Technology Fund (QCMBTF).
The investment, provided through Queensland Investment Corporation (QIC), will help advance construction of Alpha HPA’s Stage Two HPA First Project in Gladstone.
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The project is set to become the world’s largest single-site production facility of ultra-high purity aluminium materials, critical for semiconductors to power AI demand, lithium-ion batteries for electric vehicles and other advanced future-facing technologies.
Under the agreement, QIC has entered into royalty deeds with Alpha HPA subsidiaries, providing a source of funding across the entire business.
Alpha HPA managing director Rob Williamson said, “Alpha HPA is delighted to have reached this important milestone with QIC and is grateful for its continued support to grow our business and deliver value to the State of Queensland.”
QIC senior investment director Jonathan Crombie said the funding reflects strong confidence in Alpha HPA’s leadership and its role in Queensland’s clean energy transition.
“QIC is proud to continue supporting Alpha HPA as it advances its innovative HPA First and Sapphire Glass Projects and cements its footprint in Queensland’s critical minerals sector,” he said.
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“This investment reflects our confidence in Alpha HPA’s strategic vision and its potential to deliver long-term value for the State and the broader advanced manufacturing supply chain.”
The QIC investment was supported by Alpha HPA’s Australian Government funding partners, Export Finance Australia (EFA) and the Northern Australia Infrastructure Facility (NAIF), following contractual close of a $400 million senior debt financing package earlier this year.
