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Calix Ltd. ( (AU:CXL) ) just unveiled an update.
Calix Limited announced the completion of due diligence for the Zesty Green Iron Demonstration Project in partnership with Rio Tinto, clearing the way for a $3 million cash contribution from Rio Tinto. The project aims to produce green iron and steel using Calix’s Zesty technology, which combines electric heating and hydrogen reduction. The demonstration plant is designed to produce up to 30,000 tonnes per annum of hydrogen direct reduced iron or hot briquetted iron, supporting the development of a green iron industry in Australia. The project is supported by a grant from the Australian Renewable Energy Agency, and has entered its detailed design engineering phase.
The most recent analyst rating on (AU:CXL) stock is a Hold with a A$0.61 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
More about Calix Ltd.
Calix Limited is an Australian environmental technology company focused on industrial decarbonisation and sustainability. The company develops patented core platform technology for indirect heating of raw materials, enabling efficient and renewable processing of metals and minerals while capturing industrial emissions. Calix applies its technology across various industries, including cement, steel, magnesia, alumina, critical minerals, and direct air capture.
Average Trading Volume: 355,004
Technical Sentiment Signal: Sell
Current Market Cap: A$111M
See more data about CXL stock on TipRanks’ Stock Analysis page.