Calix raises funds to speed battery research

Industrial process technology company Calix has raised $14 million from investors to speed its battery development program and accelerate other areas of business development.

The company has received commitments from investors for $14 million, and also plans to offer existing shareholders new equity, raising an additional $3 million.

Calix is involved in a number of important industrial developments:

• Funded by the European Union, a full demonstration plant of its Low Emissions Intensity Lime And Cement (LEILAC) technology is being built at a HeidelbergCement plant (pictured) in Germany
• Calix has joined with Sweden’s SaltX and Sumitomo SHI FW to further develop a salt based energy storage system
• And Calix is developing advanced battery materials through its BATMn “flash calcination” technology as a partner in the the Future Battery Industries Cooperative Research Centre (FBI-CRC).

Calix CEO Phil Hodgson said the company needed to employ more engineers and dealmakers and buy more equipment to drive its environment, social and governance (ESG) investing.

Hodgson said: “Following a strategic review on generating best value for our shareholders, we felt it was the right time to hit the accelerator and access some additional capital to fully resource these opportunities.”

Hodgson said the review included further very encouraging results from its battery development program.

Advanced batteries will be allocated $4.5 million in new capital to pay for battery ad laboratory equipment.

Water businesses $2 million to fund two new plants in the Unites States and Europe as well as five new staff positions.

CO2 mitigation will receive $1.5 million to fund eight new engineers.

Further details here.

Picture: Calix/HeidelbergCement

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