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Calix Limited has reached a significant commercial milestone by signing a Joint Development Agreement with Ambuja Cements, part of the Adani Group, positioning its Leilac low-carbon technology for deployment with one of the world’s top ten cement producers. This partnership exemplifies Calix’s capital-light commercialisation approach, designed to deliver immediate economic benefits while advancing long-term emissions reduction targets. Concurrently, Calix secured a second commercial cement project in East Asia, underscoring the growing adoption of its decarbonisation platform across diverse sectors.
Key Points
- Calix Limited (ASX:CXL) has formalised a Joint Development Agreement with Ambuja Cements, a member of the Adani Group and a top ten global cement producer with over 100 million tonnes annual output.
- The Leilac collaboration with Ambuja Cements involves zero capital expenditure from Calix and Leilac, with all project costs covered by the customer under a proposed technology licence agreement.
- Calix also signed a contract for a second commercial cement project in East Asia aiming to capture and utilise approximately 100,000 tonnes of CO2 annually, operating on a zero-capital, customer-funded basis.
- The restructured partnership with Pilbara Lithium Solutions (PLS) for the Mid-Stream Demonstration Plant has released Calix’s net capital contribution while retaining upside potential through licensing revenues.
Adani Cement Partnership Highlights Capital-Light Commercialisation Strategy
Calix announced the execution of a Joint Development Agreement between its Leilac division and Ambuja Cements, marking a pivotal commercial achievement for its decarbonisation platform. Ambuja Cements ranks among the top ten global cement producers, with annual production exceeding 100 million tonnes and plans for substantial growth to support India's development. This partnership aligns with Calix’s strategic priorities of generating immediate revenue, maintaining disciplined cash management, and pursuing capital-light commercialisation. Pending a successful 'go' decision, the collaboration aims to progress toward large-scale commercial deployment under a technology licence agreement, requiring no capital expenditure from Calix or Leilac.
This agreement illustrates Calix’s approach to capturing value through both immediate economic gains and long-term emissions reduction pathways. The Ambuja Cements partnership offers potential for rapid commercial-scale deployment and replication of Leilac technology across a growing cement fleet. Calix focuses on delivering immediate economic benefits via energy switching, enhanced productivity, and low-cost CO2 capture and utilisation to drive near-term adoption while ensuring future-proof climate solutions.
Second East Asian Cement Project Signals Expanding Market Demand
Following the Ambuja Cements announcement, Leilac secured a contract with a second East Asian cement partner, whose identity remains confidential. This project targets capturing and utilising around 100,000 tonnes of CO2 annually and also operates on a zero-capital, fully customer-funded model. The agreement includes upfront payment for Leilac’s engineering services, reflecting strong customer commitment to advancing technology deployment. The rapid succession of these agreements highlights increasing market appetite for Calix’s decarbonisation solutions in the cement industry.
This second East Asian project reinforces Calix’s strategy of pursuing immediate revenue streams while creating multiple pathways for technology scaling. Both projects eliminate capital requirements for Calix or Leilac, reducing financial risk and accelerating commercial rollout. These deals reflect a strategic shift in cement towards solutions addressing near-term economic pressures and long-term climate goals, positioning Calix as a trusted technology partner for large-scale producers.
Lithium Mid-Stream Demonstration Plant Launches with ARENA Support
Calix officially opened its Lithium Mid-Stream Demonstration Plant in partnership with Pilbara Lithium Solutions (PLS), with Western Australia Premier Roger Cook and ARENA Chair Justin Punch emphasising the platform technology’s potential across minerals and metals sectors. The partnership restructure transferred full ownership and funding responsibility of the plant to PLS, which secured an ARENA grant of up to $38.1 million to help subsidise the estimated $139.2 million project cost for commissioning and operation over approximately two years. This restructure freed Calix from operating cost obligations and released its net capital contribution.
Under the new arrangement, PLS received a royalty-free licence to use Calix technology while Calix retains upside exposure to third-party licensing revenues. This realignment aligns with Calix’s capital-light, customer-funded, and fast-tracked commercial strategy, reducing financial exposure while preserving growth potential. The plant’s opening follows government recognition of the technology’s importance for Western Australia, including applications in green iron production alongside lithium extraction.
Calcined Clay Commercialisation Achieves Key Milestones in 2026
In 2026, Calix reached two major commercialisation milestones for its calcined clay technology, advancing its position as a lower carbon-intensity alternative to conventional cement clinker. Boral, a leading construction materials firm, completed successful product trials of low-carbon concrete using Calix-calcined clay, validating its performance for practical use. Additionally, Calix signed a commercial toll processing agreement with Green360 Technologies, establishing a revenue-generating clay calcination service.
Calcined clay serves as a supplementary cementitious material that partially replaces conventional clinker, avoiding CO2 emissions from limestone processing. The technology offers value beyond emissions reduction, including lower processing temperatures that reduce energy costs and emissions compared to traditional clinker production. The Boral trials confirm commercial viability and performance standards, while the Green360 agreement initiates immediate revenue generation. These milestones align with Calix’s strategy to deliver economic and environmental benefits, addressing market demand for cost-effective decarbonisation solutions.
Water Treatment Innovation Validates ACTI-Mag® Performance
Calix’s magnesia division conducted a wastewater trial showcasing the effectiveness of its ACTI-Mag® product combined with the Flex Dose System. The trial demonstrated Calix’s water treatment solutions as a more cost-efficient, safer, and sustainable alternative to traditional chemicals like caustic soda. The dosing and monitoring systems provide additional cost savings and improved treatment outcomes for water networks, illustrating the platform technology’s extension into adjacent markets with significant environmental and economic value.
The ACTI-Mag® and Flex Dose System trial marks progress in commercialising wastewater treatment solutions. By integrating effective treatment chemicals with intelligent dosing and monitoring, Calix aims to capture value from both product supply and advanced monitoring systems that optimise customer results. This multi-layered value proposition supports Calix’s broader strategy of delivering immediate economic benefits alongside long-term sustainability improvements.
Alumina Sector Advances with Norsk Hydro Collaboration
Calix completed pilot-scale material testing of alumina refinery feedstock from Norsk Hydro’s Alunorte refinery in Brazil, providing engineering data to guide next project steps. This progress advances the commercialisation of zero-emissions alumina production technology. Norsk Hydro, a major global aluminium and energy company, partners with Calix to deploy platform technology with large-scale industrial players capable of driving significant market adoption and emissions reductions.
The pilot testing validates the technology’s suitability for industrial alumina refining and informs demonstration and commercial plant designs, moving the project toward a final investment decision. The collaboration with Norsk Hydro offers both technical validation and a pathway to deployment across a substantial global production base.
Zesty Green Iron Project Nears Final Investment Decision with Rio Tinto
Calix continues advancing its Zesty Green Iron Demonstration Project, working toward a final investment decision. The initiative involves Rio Tinto, a leading global mining and metals company, and support from ARENA. Key milestones include patent progress, pilot campaign completion, and development with government and commercial partners. The project targets green iron production, a major emissions reduction opportunity in the iron and steel sector.
Progress across patents, pilot testing, and partnerships demonstrates Calix’s ability to advance complex technology commercialisation through multiple phases. The upcoming investment decision is critical for deploying green iron technology in a sector responsible for significant industrial emissions, representing a substantial commercial and environmental opportunity for Calix and its collaborators.
Financial Discipline Maintained Ahead of FY26 Results Announcement
Calix emphasizes continued focus on immediate revenue generation, disciplined cash management, and capital-light commercialisation to maintain a strong financial foundation for delivering commercial milestones. Despite challenging economic conditions driven by geopolitical factors, inflation, and market volatility, management prioritizes operational control and value creation. The company is pursuing multiple commercialisation pathways across cement, lithium, alumina, water treatment, and iron sectors.
Calix will release detailed financial performance information in its FY26 Annual Report and financial results webinar on 26 August 2026 at 10:30am AEST. Managing Director and CEO Phil Hodgson and CFO Darren Charles will present comprehensive insights into the company’s financial position and 2026 performance. Investors can subscribe via the company’s investor centre to receive announcements and webinar registration details.
