Alpha HPA Secures $225 Million for High Purity Alumina Facility in Gladstone
Alpha HPA has secured $225 million to build the world's largest High Purity Alumina facility in Gladstone, Australia, with $210 million earmarked for the project's second stage, expected to be completed by late 2027 or early 2028. The investment, which includes $75 million from the National Reconstruction Fund, aims to create 420 construction jobs and 80 ongoing roles, while promoting domestic HPA production essential for semiconductors and lithium-ion batteries, all powered by 100% renewable energy.
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Alpha HPA has raised $225 million to fund the construction of the world's largest High Purity Alumina (HPA) facility in Gladstone, Australia. Of this, $210 million will be allocated to the HPA First Project Stage 2, expected to complete by late 2027 or early 2028, while $5 million will upgrade Stage 1 capacity.
The remaining $10 million is for general corporate purposes. A share purchase plan will allow eligible shareholders to acquire new shares starting from 6 February 2025. The National Reconstruction Fund (NRF) will invest $75 million, creating 420 construction jobs and 80 ongoing roles in advanced manufacturing.
This investment is expected to enhance Gladstone's industrial capabilities and support the domestic production of HPA, crucial for semiconductors and lithium-ion batteries. The project will operate on 100% renewable electricity, significantly reducing emissions compared to traditional HPA production methods.
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