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Australia's Calix snares backing for carbon capture technology

By Sonali Paul MELBOURNE (Reuters) - Australia's Calix (NYSE:CALX) Ltd has lined up an investor to buy a stake in its carbon capture technology unit, valuing the business at A$350...
Australia's Calix snares backing for carbon capture technology © Reuters.

By Sonali Paul

MELBOURNE (Reuters) - Australia's Calix (NYSE:CALX) Ltd has lined up an investor to buy a stake in its carbon capture technology unit, valuing the business at A$350 million ($256 million), it said on Wednesday.

Calix's shares rocketed 20% to a record high after the company said Carbon Direct, a New York-based investor, had invested 15 million euros ($18 million) for a 7% stake in Calix's LEILAC Group to back the scaling-up of its technology.

LEILAC, which stands for Low Emissions Intensity Lime and Cement, is focused on commercialising Calix's patented kiln which captures carbon dioxide (CO2) from limestone in the production of lime and cement.

The International Energy Agency and the UN's climate panel have said carbon capture is essential to curb global warming. Cement manufacturing accounts for 8% of global carbon emissions, producing more than 4 billion tonnes of CO2 a year, two-thirds of which comes from heating limestone to produce lime and cement.

Calix CEO Phil Hodgson said capturing emissions was a huge business opportunity given the royalties LEILAC could earn as a percentage of carbon prices. In the European Union, the carbon price currently averages around 55 euros per tonne.

"As the world puts emissions trading schemes in place ... it does start to look like a multibillion dollar addressable market," Hodgson told Reuters.

Carbon Direct backed LEILAC after Calix completed a two-year pilot test of its kiln at a Heidelberg Cement plant in Belgium in June. Based on the success of that test, Heidelberg Cement and the EU have agreed to fund a scaled-up trial at one of the company's plants in Germany.

"We are very impressed by the technical and commercial rigor of the LEILAC team, and plant partners are outspoken in their excitement about LEILAC," Carbon Direct CEO Jonathan Goldberg said in a joint statement with Calix.

Calix aims to complete construction to retrofit Heidelberg's plant for the larger trial in late 2023 or 2024.

($1 = 1.3674 Australian dollars)

($1 = 0.8475 euros)

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28-09-2021 03:08:01 (UTC+7)

EUR/USD

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EUR/USD

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 EUR/USD1.1697↑ Sell
 GBP/USD1.3704Sell
 USD/JPY111.00Neutral
 AUD/USD0.7289↑ Sell
 USD/CAD1.2629↑ Buy
 EUR/JPY129.85Neutral
 EUR/CHF1.0831Neutral
 Gold1,750.25↑ Sell
 Silver22.648Sell
 Copper4.2817↑ Sell
 Crude Oil WTI75.47↑ Buy
 Brent Oil78.64↑ Buy
 Natural Gas5.851Sell
 US Coffee C194.98↑ Buy
 Euro Stoxx 504,165.48↑ Sell
 S&P 5004,444.03↑ Sell
 DAX15,573.88↑ Sell
 FTSE 1007,063.40↑ Sell
 Hang Seng24,208.78↑ Buy
 Small Cap 20002,284.15↑ Sell
 IBEX 359,002.90Buy
 BASF64.740↑ Sell
 Bayer47.47↑ Buy
 Allianz196.19↑ Buy
 Adidas278.80↑ Sell
 Lufthansa6.561↑ Buy
 Siemens AG147.27↑ Sell
 Deutsche Bank AG11.120↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,665/ 5,715
(0/ 0) # 900
SJC HCM5,635/ 5,700
(0/ 0) # 885
SJC Hanoi5,635/ 5,702
(0/ 0) # 887
SJC Danang5,635/ 5,702
(0/ 0) # 887
SJC Nhatrang5,635/ 5,702
(0/ 0) # 887
SJC Cantho5,635/ 5,702
(0/ 0) # 887
Cập nhật 28-09-2021 03:08:03
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Cập nhật lúc 18:54:42 27/09/2021
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