“We are off to a flying start for the year with the kick-off of two important projects. Both our domestic advanced battery materials production facility and our overseas pilot project in thermo-chemical renewable energy storage (SOCRATCES) have commenced preliminary front-end engineering design. We’ll keep you informed of both exciting projects as they progress.
In another leap forward, our Low Emissions Intensity Lime and Cement (LEILAC) project in Belgium has executed all major fabrication and construction contracts, and work has begun in earnest. We are pleased to have been selected by Australia’s Export Finance and Insurance Corporation (EFIC) to help with our working capital commitments to this project. In conjunction with the ramp-up of this project, an Innovation in Industrial Carbon Capture and Storage conference was held on February 7 and 8, with top-level delegates from our consortium partners, industry and the European Commission in attendance.
Also, our commercial business continues its expansion overseas, with our first shipments to the US (Hawaii) despatched in February.
In Issue 23 of our Newsletter, we mentioned our intention to look at an Initial Public Offering (IPO) of the company in the near future. Our IPO strategy has been recently bolstered via a small yet successful preIPO capital raising of AU$2m to help cover some of the costs of an IPO. At the same time, the company converted around AU$3.5m out of our AU$4m in debt into equity / shares. The company now has the resources and balance sheet to continue to progress an ASX listing. Provided market conditions are conducive for such a listing at the time we choose to list, the company will make a prospectus available for the IPO. Anyone who wishes to acquire shares under the IPO will need to complete the application form that will accompany the prospectus, once published. We will keep you informed as we progress this process. On behalf of the Calix team, thank you for your continued interest in Calix.”