- Alpha HPA (A4N) receives a grant of up to $15.5 million by the Department of Industry, Science, Energy and Resources under the Critical Minerals Accelerator Initiative
- The funds will go towards immediately expanding and accelerating the production capability of the Precursor Production Facility (PPF)
- The PPF is currently under construction in Gladstone as Stage 1 of the HPA First Project
- Alpha HPA will seek to promptly finalise a grant agreement with the Department of Industry and is in the mature phases of market outreach and project financing with respect to the full scale HPA First Project
- A4N shares have ended the day 8.2 per cent in the green to close at 66 cents
Alpha HPA (A4N) has been given a grant of up to $15.5 million by the Commonwealth Department of Industry, Science, Energy and Resources.
The $15.5 million grant is under the Critical Minerals Accelerator Initiative (CMAI) and the funds will be used to expand and accelerate the production capability of the Precursor Production Facility (PPF). The PPF is currently under construction in Gladstone as stage one of the HPA First Project.
“These additional funds will allow Alpha to accelerate its response to inbound demand for additional product volumes, in particular the production of HPA tablets to meet the immediate demand for sapphire glass production, and rapidly establish Alpha HPA in the supply chain at commercial volumes,” Managing Director Rimas Kairaitis said.
The funds will be directed towards Facilitating up to 10 tonnes per annum of additional capacity of high purity alumina (HPA) production and high purity boehmite production each.
Alpha HPA will seek to promptly finalise a grant agreement with the Department of Industry.
The company is fully funded to the commercial production at its stage one PPF which is scheduled to commence commercial production for the company’s high purity aluminium precursors from the September 2022 quarter.
Right now, Alpha HPA is in the mature phases of market outreach and project financing with respect to the full scale HPA First Project, with the expectation of positioning the HPA First Project to final investment decision.
A4N shares ended the day 8.2 per cent in the green to close at 66 cents.