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Calix moves forward with IPO to raise A$8 million

Sydney, Australia – Multi-award-winning Australian technology company, Calix, is moving ahead with its initial public offering (IPO) after lodging its Prospectus with the ASIC on June 25, 2018. The Prospectus relates to an IPO of approximately 15.1 million shares by Calix at an offer price of A$0.53 per share, raising gross proceeds of A$8 million with market capitalisation on listing of A$65 million.

At the core of Calix’s business is a world-first, patented, Australian platform technology that reinvents the calcination (kiln) process. Calix has invested more than A$50 million in capital to date to develop and commercialise its technology, together with being awarded in excess of A$36 million in grant funding and rebates.

Calix’s technology produces new materials and processes, targeted at solving significant global challenges such as CO2 capture, waste water treatment and phosphate removal, protecting sewer assets from corrosion, and improving food production from aquaculture and agriculture with reduced anti-biotic, fungicide and pesticide use. Calix commercialises these new materials and processes via a variety of business models including direct sales of products, licensed distributor sales, and licensing of the technology.

Calix’s CEO Phil Hodgson said, “We have made significant commercial progress since bringing our first products to market in 2013 and we have successfully built a global business that is over 20 per cent owned by our staff. We have operations, customers and distribution partners across Australia, New Zealand, Asia, and Europe, with product trials starting in the United States.”

Calix decided to list on the ASX to provide funding for its growth strategy including: enhancing the efficiency of its existing production facilities to drive margin expansion; expanding its sales and marketing capabilities to increase revenues and enter new markets; continuing specific R&D projects; providing working capital; providing liquidity for its shares; and gaining the benefits of an increased profile as a listed entity.

In an external market report produced for Calix, global research organisation Frost & Sullivan estimated that the addressable global market opportunity is approximately A$62 billion for Calix’s commercialised product portfolio, approximately A$11 billion for the pre-commercial products, and in excess of A$20 billion for its advanced R&D projects.

While early in its commercialisation strategy, Calix is cash-flow positive and has achieved a compound annual revenue growth for its core products of 41.8 per cent between 2015 and 2017, with revenue growth of 34.2 per cent achieved in the first half of the 2018 financial year (as compared to the first half of the 2017 financial year).

The company also has a development pipeline for additional applications of its technology platform, which are supported by grants in Australia and Europe, including advanced batteries and decarbonisation of lime and cement.

Phil Hodgson said, “As a cash-flow positive business with multiple products and applications being developed across multiple industries, we look forward to using the IPO proceeds to continue and accelerate the commercialisation of Calix’s products and technology platform.”

The IPO is the subject of a prospectus, a copy of which can be obtained via Calix’s website. Eligible investors will need to complete an application form accompanying the prospectus to participate in the IPO, and should consider the prospectus before deciding whether or not to participate in the IPO.

-ENDS-

About Calix

Calix is a multi-award-winning Australian technology company that is developing new processes and materials to solve global challenges.

The core technology is a world-first, patented kiln built in Bacchus Marsh, Victoria that produces mineral honeycomb, which are very highly active minerals.

Calix uses these minerals, which are safe and environmentally friendly, to improve waste water treatment and phosphate removal, help protect sewer assets from corrosion, and help improve food production from aquaculture and agriculture with reduced antibiotic, fungicide, and pesticide use.

Calix’s technology has also been adopted overseas, where the company is working with some of the world’s largest companies, governments and research institutions on CO2 capture.

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