“In this first quarter of the new financial year, Calix completed one of the most important commercial deals since listing the company in July 2018 – the investment by US-based Impact Fund Carbon Direct into our LEILAC (Low Emissions Intensity Lime And Cement) Technology. The investment of 15m euro for a 7% equity in the technology puts a significant value stake-in-the-ground, and is a testament to the hard work in technical development and value creation the Calix team have put into this exciting technology, at a time when there is accelerating interest and investment in global climate solutions. Please explore this deal a bit further in our article in this newsletter, as well as an in-depth look at our development projects in Europe – the LEILAC-1 and LEILAC-2 projects.
To support this important phase of growth, I am also very pleased to confirm that a seasoned Calix executive – Daniel Rennie – has been promoted to lead our CO2 business as CEO. Dan has been instrumental in winning grant funding for, and co-ordinating, both our LEILAC-1 and LEILAC-2 projects, and in raising the profile of Calix’s LEILAC technology from an unknown new technology only a few years ago to the European and then world stage.
In response to the growing interest in our technology and in line with our March 2021 capital raise, we have continued to recruit some great new talent into our organisation – our engineering and R&D teams have been bolstered by the addition of Ruth, Chris, Rana and Andrea – read about their impressive backgrounds in this newsletter also. And we also feature one of our longer-serving loyal staff members in Joshua Menzies on the back page.
In our water business, off the base of our AQUA-Cal+ solution to prawn farm pollution, we are launching a new project to look at whether AQUA-Cal+ can help with the environmental pressures associated with salmon farming – particularly on the sea bed of salmon pens and also typical salmon diseases. We look forward to the results from this program, given the environmental pressures the industry is beginning to face. We also take a look at a customer case study in the US, where our US team continues to expand the business based upon technical expertise, customer service and great product. We also share a link through to an interview I conducted with Nick Chiarelli of the Ocean Impact Organisation, of which Calix is now a sponsor. Click the link to hear about Nick’s vision for a cleaner ocean and help get behind this great initiative.
An article on our Biotech business features the on-going successful testing our marine coatings developments. Again, global pressure to reduce environmental impact is a great tailwind for this potential business, where our safe, environmentally friendly very high surface area magnesium oxide coating additives are dramatically improving the performance and life of existing marine coatings.
Our R&D update features two projects based upon our LEILAC Technology, both of which are helping to address the UN Sustainable Development Goals (“SDG’s”) through a novel energy storage system “SOCRATCES” powered by concentrated solar radiation, and a “calcium looping“ system “ANICA” which is looking at the wider application of the LEILAC Technology in more general flue gas CO2 capture. As always, we continue to very much appreciate the support of all our shareholders and stakeholders as we continue another year of significant development for the company.”