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█ By ACB News Stock Market Editorial Team
Australian clean technology company Calix Limited (ASX: CXL) has released the first company newsletter of 2026. Managing Director and Chief Executive Officer Phil Hodgson said the company’s industrial decarbonisation platform technology is progressing from demonstration toward commercial execution, supported by advancing projects, growing revenues and disciplined cash management.
The release coincides with 20 years since Calix first developed a new approach to industrial heating, marking its evolution from an initial technological breakthrough to a platform-based decarbonisation solution applied across multiple heavy industries.
Over the past six months, Calix has delivered a number of milestones across multiple business lines, further validating the scalability and applicability of its platform technology. In sustainable processing, Calix has entered into a joint development arrangement with global iron ore major Rio Tinto, establishing the miner as a strategic partner for its ZESTY green iron technology. Under the arrangement, Rio Tinto will contribute over A$35 million worth of value to the commercialisation of ZESTY, in addition to the A$44.9 million in grant funding awarded earlier this year by the Australian Renewable Energy Agency (ARENA).
In lithium processing, Calix reported that construction of the Lithium Mid-Stream Demonstration Project, developed through its joint venture with Pilbara Minerals (ASX: PLS), has been completed. The facility represents Calix’s first electric plant at commercial scale and serves as a key proof point for the company’s platform technology across its targeted applications.
Calix’s platform technology is also extending into new low-carbon materials and carbon removal applications. The company recently announced that its Leilac technology has been selected by Frontier to develop materials for Ocean Alkalinity Enhancement (OAE). Frontier is an advanced market commitment founded by Stripe, Google, Shopify and McKinsey Sustainability to accelerate permanent carbon dioxide removal.
Alongside its technology development activities, Calix’s cash-generating Magnesia business continues to expand. The company has secured its largest-ever contract in the United States, signing a three-year supply agreement with a new customer, with an option to extend for a further two years. The contract is expected to generate up to A$10 million in additional annual revenue, with initial product deliveries already underway.
According to the company, with several demonstration projects now completed or advancing into operation, Calix is progressively transitioning from technology demonstration to commercial execution. Looking ahead, the group will remain focused on multi-application validation of its platform technology, delivery of commercial milestones, and ongoing cost and cash management. Calix is scheduled to report its FY26 interim results on 24 February 2026.
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