Alpha HPA secures $30 million from QCMBTF

Aluminium chemicals company Alpha HPA has secured $30 million in funding from the Queensland government’s Critical Minerals and Battery Technology Fund (QCMBTF), which will help progress the company’s Stage Two HPA First Project in Gladstone.

In a statement on Thursday, Alpha said that under the agreement, its subsidiaries had entered into Royalty Deeds with Queensland Investment Corporation (QIC), “providing a source of funding across the entire business.”

State government-owned investment company QIC manages the $150 million QCMBTF, which provides up to $30 million in “equity and/or debt investment… for growth-stage businesses looking to scale-up activity”.

Alpha HPA said the capital will help advance construction of the Stage Two HPA First Project in Gladstone, which will produce ultra-high purity aluminium materials used in semiconductors, lithium-ion batteries and other products.

Alpha HPA Managing Director Rob Williamson said: “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.”

The $30 million in financing from QIC was originally announced in September 2023.

Picture: supplied

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