The National Reconstruction Fund Corporation (NRFC) has approved a $75 million investment in Alpha HPA.
The investment will support the delivery of the HPA (High Purity Alumina) First Project in Gladstone, Queensland, Australia.
The project is expected to be operational by 2027.
The NRFC investment was made as a cornerstone commitment in a $225 million funding round, acting as a catalyst to fund a further $150 million from institutional investors, which included support from Orica Limited & Australia Super to complete the raise.
The investment is strongly complementary to Alpha HPA’s existing long-term funding support from the Northern Australia Infrastructure Facility (NAIF), Export Finance Australia (EFA) and Queensland Investment Corporation (QIC).
This commitment will support Australia’s manufacturing capability, creating supply chain resilience and economic sovereignty.
Alpha HPA’s Managing Director, Rob Williamson, stated: “NRFC’s investment is a strong endorsement of Alpha HPA’s strategy, technology and role in building sovereign manufacturing capability in Australia.
“High Purity Alumina is a critical input into semiconductors, lithium-ion batteries and pharmaceutical manufacturing, where ultra-high purity materials are essential for performance, safety and reliability.
“Our Gladstone HPA First Project positions Australia as a trusted supplier into diversified global supply chains.”
The project will also deliver substantial economic and employment benefits for regional Queensland.
Alpha HPA currently employs around 130 people, with the initiative expected to create approximately 120 additional jobs for the local community.
Mr Williamson added: “During construction, the project is expected to generate more than 420 jobs, supporting skills development and long-term industrial capability in Gladstone.”
The HPA First Project is designed to operate on 100% renewable electricity, using Alpha HPA’s proprietary processing technology.
The process delivers near-zero waste, low-emissions production and a purity profile that differentiates Alpha HPA globally.
NRFC Chief Executive Officer, David Gall, said: “This investment backs a truly innovative Australian company while also strengthening Australia’s economic security and supply chain resilience around a critical material that is essential to the future economy.
“The National Reconstruction Fund is delighted to support an Australian company commercialising breakthrough intellectual property to produce materials that Australia and the world will increasingly rely on.”
Export Finance Australia (EFA) Managing Director and CEO, John Hopkins, reinforced the value of the HPA First Project: “EFA welcomes the next step in Alpha HPA’s investment and financing arrangements.
“We look forward to continuing to work with Alpha HPA, which is receiving support through the Australian Government’s critical minerals facility and our own commercial account.”
Northern Australia Infrastructure Facility (NAIF) Chief Executive Officer, Craig Doyle, said the NRFC support reinforces the strategic importance of the Gladstone development, and the NAIF is pleased to see the NRFC become a shareholder while continuing to proudly support the HPA First Project.
Alpha HPA is also assessing opportunities to expand the project through a potential third stage, reflecting customer interest and the scalability of its technology platform.
