Why are Calix (ASX:CXL) shares on trading halt?

November 22, 2022 02:24 PM AEDT | By Sonal Goyal

Why are Calix (ASX:CXL) shares on trading halt? — Image source: © Timonschneider | Megapixl.com

Why are Calix shares on trading halt?

In a press release, CEMEX, a heavy building materials organisation, had made a mention of a license agreement with Calix. The company intends to assess this press release and update the market about the same; therefore, it has requested a trading halt.

On 21 November 2022, CEMEX announced that it would implement new Carbon Capture, Utilisation, and Storage (CCUS) projects in order to continue its efforts to be a leader in the transition to a net zero construction industry.

The new CCUS projects of CEMEX include three front-end engineering (FEED) studies to scale the company’s technologies at its plants in the US, Poland, and Germany. According to CEMEX, these studies are under the scope of a new global license agreement inked with Leilac, a Calix subsidiary company.

This agreement empowers CEMEX to leverage the direct separation technology of Leilac to capture carbon dioxide at a lower cost.

Leilac is a cement and lime decarbonisation technology company. Calix has 93% ownership in Leilac, and Carbon Direct owns the rest 7%. The technology offered by the company assists in separating and capturing unavoidable carbon dioxide process emissions in lime and cement production.

Daniel Rennie, CEO, Leilac, commented,

Share performance of Calix

Shares of Calix last traded at AU$4.98 per share with a market capitalisation of AU$895.42 million. In the past one year, the share price has dropped by 31.69%, and on a year-to-date basis, it has fallen by 23.62%. in the last six months, the share price has tumbled by 35.07%, and in a month, it has decreased by 9.29%.

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