Funding boost to drive HPA First development
The National Reconstruction Fund Corporation is investing $75 million to support the delivery of the HPA First project in Gladstone.
It will act as the cornerstone investor in a $225 million capital raising set to drive commercialisation of Stage 2 of the HPA First Project, which is under construction, and to unlock further capacity from Stage 1.
HPA First proponent Alpha HPA (ASX:A4N) said the NRFC investment acted as a catalyst to successfully crowd in a further $150 million from institutional investors, including ongoing support from Orica and AustralianSuper.
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