Ann: FYI & ALCOA SIGN BINDING JV TERM SHEET FOR FYI HPA PROJECT, page-566

Here's what Alcoa said about the project during the presentation:

Roy Harvey – President and Chief Executive Officer:
And we've earned a premium on ASI-certified products, which we can sell globally. Earlier this month, we also announced the beginning of a joint development project related to the market for high purity alumina or HPA. Industry analysis shows that demand for HPA will be strong with increasing year-over-year demand due to the need for low carbon solutions in transportation and other sectors. non-metallurgical alumina.
HPA is used to create a variety of products for a sustainable economy. This includes lithium-ion batteries that are the backbone of clean, emissions-free electric vehicles, and energy-efficient LED lighting applications.
While we are still at an early stage of development, we believe our process knowledge of alumina refining can help ensure the operational and financial success of this joint development project.