Calix Raises $22.1m Through Placement and SPP to Fund Growth
Calix Limited has successfully closed its Share Purchase Plan, raising $2.1 million to complement a prior $20 million institutional placement, strengthening its balance sheet to advance key environmental technology projects.
- Share Purchase Plan raised $2.1 million
- Institutional placement secured $20 million
- Funds allocated to Leilac, lithium, and ZESTY projects
- Balance sheet strengthened for 18-month operational runway
- Directors fully participated in the SPP
Calix Completes $22.1 Million Equity Raise
Australian environmental technology company Calix Limited (ASX: CXL) has successfully closed its Share Purchase Plan (SPP), raising $2.1 million. This follows a $20 million institutional placement completed in December 2024, bringing the total capital raised to $22.1 million. The combined equity raise underscores strong investor confidence in Calix’s commercialisation strategy and its role in industrial decarbonisation.
Calix’s Managing Director and CEO, Phil Hodgson, expressed gratitude to both new and existing shareholders for their support, highlighting that the capital injection provides the company with the financial strength necessary to pursue its ambitious growth plans.
Strategic Use of Funds
The proceeds from the placement and SPP are earmarked for advancing key projects within Calix’s portfolio, including Leilac, lithium, and ZESTY, initiatives focused on transforming industrial processes in cement, steel, and critical minerals sectors. These projects aim to convert Calix’s opportunity pipeline into revenue-generating engineering ventures in the near term.
Additionally, the funds will maintain Calix’s capacity to rapidly restart the Pilbara Minerals joint venture Mid-Stream Project, contingent on favourable market conditions or government support. Strengthening the group’s balance sheet also provides an 18-month runway, supporting ongoing subsidiary-level capital raisings essential for progressing demonstration projects.
Investor Confidence and Board Participation
Notably, each director of Calix participated fully in the SPP, signaling strong internal confidence in the company’s future. The SPP shares are scheduled for issue on 6 February 2025, with trading commencing the following day.
Calix’s patented core platform technology enables indirect heating of raw materials, facilitating efficient, renewably powered mineral processing and industrial emissions capture. This technology positions Calix at the forefront of global decarbonisation efforts, with applications spanning cement, steel, alumina, and critical minerals industries, as well as direct air capture of atmospheric CO2.
Looking Ahead
With global demand for decarbonisation technologies intensifying, Calix’s strengthened financial position and focused project pipeline place it well to capitalise on emerging opportunities. However, the company’s ability to execute on its plans will depend on market dynamics and potential government incentives, particularly regarding the Pilbara Minerals JV.
Bottom Line?
Calix’s successful capital raise sets the stage for critical project milestones amid evolving market and policy landscapes.
Questions in the middle?
- How will Calix prioritise funding among Leilac, lithium, and ZESTY projects?
- What market conditions or government support could trigger the Pilbara Minerals JV restart?
- When can investors expect tangible revenue contributions from these initiatives?
