Alpha HPA Ltd. has secured AU$30 million in funding from the Queensland government to construct what will become the world’s largest single-site production facility of ultra-high purity aluminium materials in Gladstone, Queensland.
Under the agreement, the Queensland Investment Corporation (QIC) has entered into Royalty Deeds with Alpha HPA subsidiaries to provide a source of funding across the entire business.
Rob Williamson, Alpha HPA managing director, said the funding reflects the confidence from the government in Australia’s ability to deliver value-added critical mineral products onshore.
“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,” Williamson said.
The investment has been supported by Alpha HPA’s Australian government funding partners, Export Finance Australia (EFA) and the Northern Australia Infrastructure Facility (NAIF).
Alpha HPA reached a contractual close for AU$400 million in debt financing from the two funding partners for the aluminium facility in 2024.
QIC Senior Investment Director Jonathan Crombie, said: “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.”
