Alpha HPA has secured a $75 million cornerstone investment from the National Reconstruction Fund Corporation (NRFC) to support delivery of its HPA First Project in Gladstone, Queensland, strengthening Australia’s position in critical advanced materials manufacturing.

The NRFC commitment forms part of a $225 million funding round, acting as a catalyst to attract a further $150 million from institutional investors, including Orica Limited and AustralianSuper. The capital will fund construction and commissioning of the HPA First Project, which is targeted to be operational by 2027.

The investment complements Alpha HPA’s existing long-term funding support from the Northern Australia Infrastructure Facility (NAIF), Export Finance Australia (EFA) and Queensland Investment Corporation (QIC), reflecting broad public and private sector confidence in the project.

The HPA First Project will utilise Alpha HPA’s proprietary processing technology, enabling near-zero waste, low-emissions production and operation on 100 % renewable electricity. The facility will produce high-purity alumina (HPA) for use in semiconductors, lithium-ion batteries and pharmaceutical manufacturing, where ultra-high purity materials are essential for performance, safety and reliability.

Alpha HPA Managing Director Rob Williamson said the investment endorses the company’s strategy and role in building sovereign manufacturing capability in Australia, positioning the country as a trusted supplier into diversified global supply chains.

The project will also deliver significant regional benefits. Alpha HPA currently employs around 130 people, with the project expected to create approximately 120 additional ongoing jobs, while more than 420 roles are anticipated during construction. The company is also assessing opportunities for a potential third stage expansion, reflecting customer demand and the scalability of its technology platform.