Join our daily newsletter At The Bell to receive exclusive market insights
- Alpha HPA (A4N) has been awarded a $45 million grant under the Modern Manufacturing Initiative by the Commonwealth Department of Industry, Science, Energy and Resources
- The grant will be applied toward the capital expenditure of the full-scale HPA First project
- Alpha is currently fully funded to the commercial production at its Stage 1 Precursor Production Facility which is scheduled to commence commercial production from the September 2022 quarter
- Alpha was supported by Orica as a joint applicant as their collaboration and will be given 10 per cent of the grant to offset the capital expenditure required to support the HPA first project
- A4N shares are up 19.2 per cent, trading at 59 cents
Alpha HPA (A4N) has been awarded a $45 million grant under the Modern Manufacturing Initiative by the Commonwealth Department of Industry, Science, Energy and Resources.
The grant will be used towards the capital expenditure of the company’s full-scale high purity alumina (HPA) first project.
The project represents the commercialisation of the production of approximately 10,000 tonnes per annum equivalent of HPA and related high purity precursor products using Alpha’s proprietary licenced solvent extraction and HPA refining technology.
“This grant recognises the unique potential for the HPA First Project to supply critical high purity aluminium materials to the important de-carbonising industries of LED lighting and eMobility,” said Alpha Managing Director Rimas Kairaitis.
“This financial commitment represents strong Government endorsement for the Project’s development and the ongoing economic benefits it will provide to the Gladstone region [in Queensland] and leaves the Project strongly positioned to secure the additional funding required to see it through to full-sale commercial production”.
Alpha is currently fully funded to the commercial production at its Stage 1 Precursor Production Facility which is scheduled to commence commercial production from the September 2022 quarter.
Alpha was supported by Orica as a joint applicant as their collaboration forms a key part of the HPA First Project which Alpha leverages off the existing Orica manufacturing facility in Gladstone, QLD.
The company confirmed 10 per cent of the grant proceeds will be given to Orica to offset their capital expenditure required to support the HPA first project.
Alpha is in touch with the Department of Industry to execute a grant agreement.
A4N shares spiked 19.2 per cent, trading at 59 cents at 11:15 am AEDT.
