Calix rebounds on sales, critical industries technologies

Industrial technologies developer Calix has reported strong FY23 results underpinned by its traditional water treatment business and novel technologies that have positioned it as a leader in decarbonisation of the cement sector, lithium processing and advanced battery materials.

The company reported revenue up 43 percent to $29.6 million underpinned by its US and Asia Pacific water business and progress across its technology development portfolio.

Calix ended the year with cash of $74.5 million, bolstered by a $60 million institutional placement and a $21.6 million share purchase plan.

During the year it boosted R&D, investing $31.7 million in capability and capacity building – R&D and engineering accounted for 77 percent of the total increase in operational expenditure.

Leilac’s core kiln and processing technologies progressed during the year:

• The company completed its first licence agreement with Heidelberg Materials for its Leilac subsidiary’s technology to decarbonise cement and lime production. The Leilac-2 demonstration plant will be commissioned in 2025 and is targeting 100,000 tonnes per annum of CO2 separation during the cement production process
• Calix’s joint venture with Pilbara Minerals progressed towards construction of their mid-stream lithium processing demonstration plant which will produce lithium salts from ores which are not normally easily treatable. The financial investment decision was approved by the two companies in August.
• And Calix produced commercial prototype lithium manganese oxide battery cells in collaboration with US partner AMTE Power.

Calix Managing Director and CEO Phil Hodgson said the company’s strong balance sheet provided the capacity to pursue commercialisation opportunities across the breadth of the company’s business.

Hodgson said: “It is the result of solid revenue and margin growth in our water business in the US, grants and tax rebates from government, and ongoing fiscal prudence.

“By design we retain flexibility to pursue the right capital strategy for each investment opportunity across the business.”

Hodgson said that an unprecedented array of government policies and programmes had been announced globally to support industry decarbonisation.

“For Calix, these policies and programmes were complemented by demand from industry and investors, despite the turbulent global economic environment.

“The favourable tailwinds…see Calix well positioned for another landmark year in FY24.”

Further reading:
Calix licenses low-emission cement tech to German giant
Calix and Pilbara Minerals advance lithium processing technologies

Picture: Calix/ Leilac-2 demonstration plant