Alpha secures funding for world’s largest HPA plant

Alpha HPA has secured a $30 million funding injection from the Queensland Government, backing its bid to construct what will become the world’s largest single-site ultra-high purity aluminium (HPA) facility in Gladstone.

The project targets critical materials for AI semiconductors, EV batteries and other next-generation technologies, positioning Queensland as a global hub for advanced manufacturing.

The investment, provided via Queensland Investment Corporation (QIC), will support stage two of Alpha’s HPA First project. QIC has entered royalty deeds with Alpha HPA subsidiaries, providing a long-term funding mechanism across the business.

Alpha HPA managing director Rob Williamson said the funding from QIC highlights the confidence from the government in Australia’s ability to deliver value-added critical minerals 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.

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.

“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 funding follows Alpha HPA’s $400 million senior debt financing package earlier this year, supported by Australian Government partners Export Finance Australia (EFA) and the Northern Australia Infrastructure Facility (NAIF).

“EFA welcomes investment in Australia’s critical minerals sector, and we welcome QIC support for Alpha HPA. We are pleased to continue our work with Alpha HPA, who is receiving support through the Australian Government’s Critical Minerals Facility,” EFA managing director and chief executive officer John Hopkins said.