Calix Limited (ASX: CXL) offers mineral processing services. The company sells and licenses calciners, endex reactor technology, calcined mineral powders sales, and carbon capture based power production systems and plants. Calix operates and markets customers worldwide.
The company today, on 3rd April 2019, updated its groundbreaking project to demonstrate an innovative carbon capture technology for the cement and lime industries. Project LEILAC has successfully commenced the commissioning process on time and budget.
The LEILAC Project, a €21m project (approx. AU$33m) has received €12m (approx. AU$19m) of financing from the EU’s Horizon 2020 research and innovation programme. LEILAC is handling Calix’s innovative carbon capture technology, which in turn will help cement and lime businesses of Europe to control greenhouse gas emissions without major energy or capital penalty.
The commissioning activities over April would involve test-firing of furnace burners, testing of each process line, furnace refractory dry-out, cold feed conveying, extraction system testing and commencement of test campaigns.
The critical next steps for the LEILAC Project involve “fingerprinting” the operation of the plant over May and June, including initial runs on lime and cement meal. These initial runs will significantly de-risk the technology and conclusively demonstrate its technical principles. The longer-term runs over the remainder of 2019 and 2020 will focus on extending the operational limits of the technology, as well as long term studies on issues, such as mechanical limits, fouling and corrosion, in preparation for scale-up to designs.
Calix’s Founder, Chief Scientist and Executive Director, Mark Sceats, said that this is a significant development milestone for the Direct Separation Application of the company’s technology. He added that he looks forward to successful commissioning and fingerprinting exercise over the next few months, which is expected to considerably de-risk this application.
Calix’s patent covering direct separation for lime and cement was filed in November 2014 and has been granted in Australia and China with many other countries pending approval.
On the stock-performance front, the stock has posted the YTD return of -5.66%. The company also has posted return of -10.18% over the past one month. At market close on 3rd April 2019, the stock of the company was trading at a price of A$0.72, down 4% during the day’s trade with a market capitalisation of ~A$92.15 million. The stock opened the trading day at A$0.740, reached an intraday high of A$0.750, and touched the intraday low of A$0.720 with a daily volume of ~58,095. It had a 52-week high price of $0.995 and a 52-week low price of $0.620, with an average volume of ~54,743.
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