Alpha HPA has secured $400 million financing support from the Australian Government to advance its Gladstone based HPA First Project into one of the largest single site ultra-high-purity alumina refineries in the world.
The company announced today that it had received conditional approval for $320 million in project loan facilities and an $80 million cost overrun facility.
The funding will assist Alpha HPA in entering full-scale production of over 10,000 tonnes of high-purity aluminium products per year, creating 120 ongoing local jobs on top of 300 jobs during construction.
The facilities will be jointly funded by Australian Government financing agencies Northern Australia Infrastructure Facility (NAIF) and Export Finance Australia (EFA), with support provided under the Australian Government’s $4 billion Critical Minerals Facility (administered by EFA) and EFA’s Commercial Account.
Alpha’s Managing Director Rimas Kairaitis said the funding represented a comprehensive endorsement of the company.
“We are delighted to receive comprehensive and attractive financing support from the Australian Government,’’ Mr Kairaitis said.
“This financing support represents a comprehensive endorsement of the Company’s technology and business strategy. This key milestone brings Alpha HPA one step closer to establishing Australia’s first, sovereign, large scale commercial capability to manufacture high purity alumina’s and related products to support key high technology growth sectors driving the global energy transition. This support, combined with the deep and positive end-user engagement, consolidates our confidence in this unique business opportunity.”
Alpha HPA’s proprietary process technology offers a unique opportunity to manufacture a wide range ultra-high purity aluminium materials that are cost competitive, low-carbon and which leverages off established industrial infrastructure in Gladstone.
The innovative process allows for the extraction and purification of aluminium from industrial feedstock, producing materials of exceptional purity for high-technology applications, including the semiconductor, lithium-ion battery and LED lighting sectors.
The funding will be directed at the construction of Stage 2 of the HPA First Project, which builds on the already operational Stage 1 facility to establish full commercial scale operation.
“The 10-hectare, state-of-the-art facility will leverage the established Stage 1 facility, and Alpha’s novel and Australian owned and developed process IP and will be capable of producing over 10,000 tonnes of high-purity aluminium products, and one of the largest single-site HPA refineries globally’’ Mr Kairaitis said.
In a win for the environment, the facility is near zero waste, recycles nearly 100% of its reagents, will run on 100% renewable energy and will utilise 70% lower carbon processes compared to traditional HPA refining methods.
Ends.
Media contact: Ellie Blumel – +61 (0) 448 122 948 or eblumel@alpha.dev.lancemontana.com.au
Investor contact: Rob Lord – +61 (0) 400 008 553 or rlord@alpha.dev.lancemontana.com.au
