Calix Limited is pleased to announce today that it has executed final transaction documents with PLS Group Limited (PLS) to complete the restructure of the lithium Mid-Stream Project (Project) and commercialisation framework under the previously announced terms.
Execution of the transaction documents triggers a first cash payment of A$5.7m to Calix. A second A$5.7m cash payment is unconditional and due on 31 July 2026.
As described further in the Calix and PLS ASX announcement dated 19 February 2026, completion of the restructure with PLS:
- Removes any ongoing funding requirements and execution exposure for Calix relating to the Project.
- Releases $11.4m net capital previously invested into the Project.
- Realigns the commercialisation of the Calix technology for the primary lithium market with Calix’s long-term capital-light licensing model.
- Grants PLS a perpetual royalty-free licence for the use of the Calix technology in all primary lithium processing applications at plants PLS owns or has a joint venture interest in.
- Positions Calix as an upside-only beneficiary of the technology for the primary lithium market through a 20:80 (Calix:PLS) royalty split arrangement for third-party use of the technology.
The $11.4m cash payment from PLS will further enhance the cash and liquidity position of the Group and strengthen the Groups’ resourcing and focus on the large market opportunities for Calix’s platform technology in iron and steel, cement and lime, alumina and magnesia.
