Green360 Technologies Signs First Binding Supply Deal with Holcim for Low-Carbon Cement Alternative

Holcim Partnership Confirms Commercial Viability of Green360’s MKX Technology

The binding supply agreement with Holcim solidifies a previously announced Memorandum of Understanding, marking a significant milestone for Green360 Technologies. Holcim, a subsidiary of the global Holcim Group with 2025 net sales of CHF 15.7 billion and operations in 45 markets, ranks among the world’s largest building materials companies. In Australia, Holcim operates an extensive network supplying concrete, aggregates, and related products to major infrastructure projects, actively supporting the transition to low-carbon construction through its ECOPact concrete range.

This contract establishes Holcim as Green360’s first commercial customer for MKX-CC, providing independent validation of product quality and the company’s commercial supply capabilities. MKX-CC is specifically designed to replace fly ash and slag—two supplementary cementitious materials facing imminent supply shortages in Australia. The fixed-price agreement, featuring industry-standard termination clauses, demonstrates Holcim’s confidence in both MKX-CC’s performance and Green360’s supply chain execution after rigorous technical evaluations.

Rapid Progression from Development to Commercial Supply in Four Months

Green360 achieved a notably swift commercialisation timeline, advancing from technology development to a binding commercial supply contract within approximately four months. In March 2026, the company signed a binding Toll Treatment Agreement with Calix Limited (ASX:CXL), enabling a capital-light route to commercial production with access to up to 30,000 tonnes per annum of calcination capacity. This partnership allowed Green360 to leverage Calix’s Bacchus Marsh facility in Victoria, avoiding the need for its own calcination infrastructure.

Following this foundation, Green360 completed its first commercial production run in April 2026, producing 150 tonnes continuously at the Calix facility. To date, over 600 tonnes of MKX have been supplied across Victoria for commercial-scale validation in infrastructure projects such as Melbourne Airport Business Park, the Eastern Freeway Extension, and the Suburban Rail Loop. This progression from pilot production to commercial validation and a binding supply agreement with a global customer underscores Green360’s successful execution of a scalable, capital-efficient supply chain strategy.

Supply Agreement Details and Distribution to Holcim’s Victorian Operations

Under the binding contract, Green360’s wholly owned subsidiary, Suvo Minerals Australia Pty Ltd, will deliver up to 4,800 tonnes of MKX-CC annually to Holcim’s Victorian concrete operations during the initial 12-month term. The agreement includes a fixed price per tonne and technical compliance standards to guarantee product consistency and performance. MKX-CC will be manufactured at Calix Limited’s Bacchus Marsh facility under the existing Toll Treatment Agreement and distributed to five Holcim batching plants around Melbourne, facilitating seamless integration into Holcim’s concrete production network and supply chain.

The binding nature of the contract, combined with standard termination rights, formalizes the previously announced MOU into enforceable commercial terms. The fixed-price model offers Green360 revenue visibility and commercial certainty, while delivery to multiple Holcim batching plants demonstrates immediate applicability within established concrete production infrastructure. The initial 4,800-tonne commitment represents a significant commercial volume, testing Green360’s supply chain capabilities in real-world conditions and generating operational cash flow.

Structural Shortages in Traditional Cementitious Materials Fuel Market Demand

This agreement emerges amid fundamental shifts in Australia’s concrete industry, where traditional supplementary cementitious materials like fly ash and blast furnace slag are becoming scarce. Historically sourced as industrial by-products from coal-fired power generation and steelmaking, these materials face declining availability due to the country’s decarbonisation efforts and the growth of renewable energy.

Green360 highlights this as a structural, long-term shift rather than a temporary shortage. Holcim CEO George Agriogiannis commented, "Widespread use of this new supplement will reduce our reliance on fly ash and slag; two materials that will continue to decline in availability as we see the renewable energy sector ramp up, and heavy industries continue to decarbonise." This supply constraint creates a robust market opportunity for dedicated supplementary cementitious materials like MKX-CC that can reliably replace diminishing industrial by-products at scale.

MKX-CC Positioned as a Scalable Solution to Industry Supply Challenges

Green360’s leadership positions MKX-CC as a scalable, locally produced alternative addressing the concrete industry’s structural supply constraints. Formulated as a high-reactivity metakaolin compound, MKX-CC meets technical specifications and quality standards required by the construction sector.

Holcim’s commitment to a binding 12-month supply agreement following extensive technical evaluation validates this positioning. The product’s successful deployment in major infrastructure projects—including Melbourne Airport Business Park, the Eastern Freeway Extension, and the Suburban Rail Loop—demonstrates its performance in demanding real-world applications. This endorsement provides a foundation for Green360 to pursue additional supply agreements with other major concrete producers and ready-mix operators.

Capital-Efficient Business Model via Calix Toll Treatment Partnership

Green360’s commercial strategy leverages a capital-light model through its Toll Treatment Agreement with Calix Limited, signed in March 2026. This arrangement grants access to up to 30,000 tonnes per annum of calcination capacity at Calix’s Bacchus Marsh facility, eliminating the need for Green360 to invest in its own calcination infrastructure.

The toll treatment model enables Green360 to convert raw clay into finished MKX product by paying a per-tonne fee, utilizing Calix’s industrial-scale production capabilities. This approach contrasts with traditional vertically integrated models, offering operational flexibility and minimizing fixed asset investments. The available capacity exceeds the initial Holcim commitment, allowing room for future commercial expansion without immediate capital outlay.

Building Momentum for Additional Commercial Supply Agreements

The Holcim deal lays the groundwork for Green360 to secure further commercial supply contracts as it continues to validate product performance, supply reliability, and commercial viability. Identified as the "inaugural" commercial customer, Holcim’s agreement represents the first step in addressing a market facing structural shortages.

Australia’s concrete industry includes several large regional and national ready-mix operators confronting similar supply challenges. Green360’s proven production capability, major infrastructure project validation, and binding agreement with a global leader strengthen its position to engage additional customers. The enduring nature of the supply shortage suggests sustained demand, with potential to scale beyond the initial 4,800-tonne commitment as new agreements and production capacity expansions materialize.

Technical Validation via Major Infrastructure Projects

Before finalizing the Holcim agreement, Green360 demonstrated MKX-CC’s performance through commercial-scale supply to key Victorian infrastructure projects such as Melbourne Airport Business Park, the Eastern Freeway Extension, and the Suburban Rail Loop. These high-profile projects feature stringent specifications and quality controls, providing real-world validation beyond laboratory or small-scale testing.

Success in these applications confirms MKX-CC’s ability to meet technical standards, cure appropriately, and deliver desired concrete properties at commercial scale. This track record likely influenced Holcim’s technical evaluation and decision to enter a binding supply agreement. Additionally, the product’s visibility in prominent infrastructure projects enhances marketing credibility within the construction industry.

Execution and Supply Chain Risks for Green360

Despite the commercial validation, Green360 faces risks inherent in scaling from development to sustained commercial supply. The company relies exclusively on Calix Limited’s toll treatment facility for MKX production under the current agreement. Any operational disruptions, capacity limitations, or changes in the Calix partnership could impact Green360’s ability to fulfill Holcim’s orders or serve other customers. The cost structure is also dependent on per-tonne treatment fees, affecting production economics and margins.

Maintaining consistent product quality and supply reliability at increased volumes is critical. While Green360 has demonstrated capability with 150-tonne production runs and over 600 tonnes distributed, scaling to fulfill Holcim’s 4,800-tonne annual contract and potential additional agreements will increase operational complexity. Timely delivery to Holcim’s five batching plants and consistent product performance are essential to preserving customer trust and enabling future growth. Any quality or delivery issues could damage Green360’s reputation during this pivotal commercialisation phase.