Calix (ASX:CXL) awarded $1 million to transform its biotech capability

Company News

by Lauren Evans

Award-winning technology company Calix (ASX:CXL) have announced they have been awarded the maximum $1 million grant under the Australian Government's Manufacturing Modernisation Fund (MMF).

Calix are developing environmentally friendly industrial processes and materials. The core technology involves grinding materials to particles around one thousandth of a millimetre, "flash" heating them at up to 1000 degrees Celsius, and capturing the CO2 that bubbles from the particles.

Managing Director Phil Hodgson comments that the funding will "help advance our Biotech manufacturing capability at our Bacchus Marsh facility in Victoria. The grant will supplement our recent capital raise... and free up existing resources, which will be focused on our Advanced Batteries development. Our development of crop protection products, marine coatings and potential future applications in health and pharmaceuticals will benefit greatly".
 
Shares in Calix (ASX:CXL) are trading 0.8 per cent higher at $2.60. 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.