Calix Ltd. · ASX:CXL
Calix — Investor Presentation (February 2022)
35 slides from Calix's investor presentation, Feb 23, 2022
Slide 1: Calix Limited Half-Year FY22 Update
CALIX LIMITED Half-Year FY22 Update February 23rd, 2022 Solving global challenges 1
Slide 2: Important Disclaimer
Important Disclaimer This presentation has been prepared by Calix Limited (ABN 36 117 372 540) (“Company”). INVESTMENT RISK An investment in Calix securities is subject to investment and other known and unknown risks, some of which are beyond the control of Calix, SUMMARY INFORMATION including possi
Slide 3: Mars is for quitters
Mars is for quitters We believe our responsibility starts at home. That’s why we’re driven to use our unique technology to repair, preserve and prevent future harm to it. Because there’s only one Earth, and it’s already ours. 3
Slide 4: Calix Limited is developing multiple environmental business opportunities
Calix Limited is developing multiple environmental business opportunities CO2 Advanced Sustainable Water Biotech Mitigation Batteries Processing Water Treatment Cement Crop Protection Advanced Renewable-powered Cathode & Anode Mineral and Chemical Aquaculture Lime Marine Coatings Materials Processin
Slide 5: Our core technology platform
Our core technology platform A patented platform technology with 3 key features CO2 capture When processing limestone, gas exhaust A new way to “heat stuff up” is high purity CO2 26 patent families covering core technology and applications Renewable >A$100m has been energy-ready invested to date in
Slide 6: Key Highlights – H1 FY22
Key Highlights – H1 FY22 Calix awarded 29 Calix and 5 Carbon Direct 15 Calix CO2 10 $1m to help fund June RHIMagnesita July invests €15m for Sept business: CEO Nov new biotech sign MOU for 7% stake in LEILAC appointment facilities CO2 reduction Technology. Calix project Limited retains 30% royalty s
Slide 7: Our FY22 priorities and progress in 6 months
Our FY22 priorities…and progress in 6 months ACHIEVED SO FAR CO2 Advanced Water Biotech Sustainable Processing Mitigation Batteries Revenue and Gross Margin Cement and Lime Crop Protection Successful full (coin) Refractories growth via… • Successful test campaign • 2nd license agreement cell results
Slide 8: Half Year FY22 Financials
Half Year FY22 Financials 8
Slide 9: Summary of Results H1 FY22
Summary of Results H1 FY22 TRANSITIONING REVENUE PROFILE, STRONG BALANCE SHEET Revenue & Other Income Key Take-aways… 18 R&D tax incentive is likely to be received as a carry forward tax offset rather than cash refund (accounted as income), as total 16 aggregated turnover is likely to exceed $20m th
Slide 10: Summary of Results HY22 – Profit & Loss Highlights
Summary of Results HY22 – Profit & Loss Highlights INVESTING HEAVILY IN CAPABILITY TO CAPITALISE ON TECHNOLOGY COMMERCIALISATION HY22 HY21 Comments ($m’s) ($m’s) Sales revenue 9.8 9.2 Grant income recognised 0.7 4.5 Leilac 1 to Leilac 2 transition R&D tax incentive - 2.6 Tax rebate to tax incentive
Slide 11: Summary of Results HY22 – Balance Sheet highlights
Summary of Results HY22 – Balance Sheet highlights BALANCE SHEET STRENGTHENED THROUGH STRATEGIC SELL DOWN IN ONE OF OUR LINES OF BUSINESS 31 Dec 21 30 June 20 ($m’s) ($m’s) Total Assets 66.2 51.6 Sale of minor stake [~7%] in our LEILAC Group demonstrated underlying value in the assets and Total Liab
Slide 12: Summary of Results HY22 – Cash Flow Statement highlights
Summary of Results HY22 – Cash Flow Statement highlights INVESTING IN COMMERCIALISATION – AND MORE OPTIONS OPENED UP FOR FUNDING OUR LINES OF BUSINESS HY22 HY21 ($m’s) ($m’s) Operating Cashflows (8.0) (3.6) Operating cashflows impacted by timing on Receipts from govt bodies 0.5 6.2 receipt of R&D ca
Slide 13: Decarbonisation – CO2 and Sustainable Processing
Decarbonisation – CO2 and Sustainable Processing 13
Slide 14: ESG Interest is growing
“Environment / Social / Governance” (ESG) Interest is growing GLOBAL ECONOMIES, COMPANIES AND INVESTMENT FUNDS ARE ALL HEADING IN ONE DIRECTION 66% of global GDP* Companies committed ESG Exchange Traded Funds From USD1.3 to USD4 trillion per and carbon emissions currently to net-zero emissions doubl
Slide 15: Our business opportunities and ESG tailwinds
Our business opportunities and ESG tailwinds Multiple “shots on goal” ESG opportunity using the one patented core platform technology CO2 Advanced Water Biotech Sustainable Processing Mitigation Batteries • LEILAC technology for cement • Safe, environmentally friendly • Targeting safe, • Safe, envir
Slide 16: Our CO2 business: pilot-proven and funded to demonstration scale
Our CO2 business: pilot-proven and funded to demonstration scale POTENTIAL LOWEST COST CEMENT AND LIME CO2 SOLUTION LEILAC-1 Output Report Released – Roadmap “2050” - Confirms LEILAC has potential to be lowest cost CO2 capture technology for lime and cement Key Updates - Watch point – COVID impacts
Slide 17: Sustainable Processing
Sustainable Processing CALIX TECHNOLOGY … EVERYWHERE! - SALTX REFRACTORY SPODUMENE LC3 ALUMINA IRON AND STEEL Mineral looping energy CO2 reduction into Revolutionary at-mine low Next Generation Electrifying Aluminium New patent filed for storage existing magnesia production CO2 footprint Li salt man
Slide 18: Water
Water 18
Slide 19: Our Water business – Magnesium Hydroxide Liquid (US)
Our Water business – Magnesium Hydroxide Liquid “MHL” – a safe alkali chemical OUR REVENUE ENGINE…TARGETING MULTI-US100M REVENUE MARKETS… H1 Updates: US Corporate Office: • Revenues – US$5.098 H1 FY22 vs 5.465 H1 FY21 • Spokane, WA down 7 % on prior period - Key issues COVID Operations: Sales/Techni
Slide 20: Our Water business – Magnesium Hydroxide Liquid (ANZ, SEA, EU)
Our Water business – Magnesium Hydroxide Liquid “MHL” – a safe alkali chemical OUR REVENUE ENGINE…TARGETING MULTI-US100M REVENUE MARKETS… Operations H1 Updates: Locations • AUS/NZ - ANZ $2.177m vs $2.043m up 7 % on prior period: Gross Margin steady ~ 24% AUSTRALIA NEW ZEALAND CHINA • SEA – Market en
Slide 21: Biotech
Biotech 21
Slide 22: Our biotech business – nano/bio-active magnesium oxide
Our biotech business…very high surface area magnesium oxide - “nano/bio-active” Latest Updates CROP PROTECTION Commercialisation: progress Market Value Drivers • Australia: label registration; FY22 – in final stage of assessment as a crop protection product Proof-Of-Concept • reduced toxic pesticide
Slide 23: Advanced Batteries
Advanced Batteries 23
Slide 24: Advanced Batteries – novel structured high power electrode materials
Advanced Batteries – novel structured high power electrode materials LOWER COST, SIMPLE, SAFE CHEMISTRY PROMISING PERFORMANCE NOVEL STRUCTURE SCALE-UP Early test results very promising UNDERWAY Approx. 6x lower energy route than conventional lithium Before Pilot line prototyping of Calix manganese o
Slide 25: Our FY22 priorities…looking forward
Our FY22 priorities…looking forward, target achieving all our milestones ACHIEVED SO FAR CO2 Advanced Water Biotech Sustainable Processing Mitigation Batteries Revenue and Gross Margin Cement and Lime Crop Protection Successful full (coin) Refractories growth via… • Successful test campaign • 2nd li
Slide 26: Board of Directors and Equity Structure
Board of Directors and Equity Structure 26
Slide 27: Board of Directors
Board of Directors Peter Helen Fisher Jack Phil Dr Mark Turnbull, AM Non-Executive Hamilton Hodgson Sceats Non-Executive Director Non-Executive Managing Executive Chair Director Director & Chief Director And Executive Officer Chief Scientist Experienced Chair and Non-Executive CEO and Managing Direc
Slide 28: Listed on the ASX in July, 2018
Listed on the ASX in July, 2018 ASX:CXL Share Price Performance Since Listing As at 21 February 2022 Shares on issue ~161.3m Share price for IPO Capital Raise $0.53 per share Share price on IPO $0.62 per share Current Share price $5.20 per share S&P Market capitalisation ~$839m ASX200 Major sharehol
Slide 29: Glossary
Glossary Term Meaning Aluminium (Al) Chemical element with the symbol Al Anode The negative electrode of a battery APVMA Australian Pesticides and Veterinary Medicines Authority BATMn Calix’s core kiln technology – electrified – for battery and catalyst materials production C, 2C, 4C, D Charge rate,
Slide 30: Glossary
Glossary Term Meaning Iron The chemical element, represent by “Fe” on the periodic table Iron Ore Iron oxide mixed with various other minerals, as mined and “pre-processed” (purified) as best as possible LFP Lithium Iron Phosphate – a battery cathode material LMO Lithium Manganese Oxide – a battery
Slide 31: Glossary
Glossary Term Meaning Nickel (Ni) Chemical element with the symbol Ni NCA A battery cathode material made from nickel, aluminium and cobalt NCM, or NMC A battery cathode material made from nickel, manganese and cobalt Pelletisation The formation of pellets from finer materials to aid in handling Pot
Slide 32: Additional Slides
Additional Slides 32
Slide 33: CO2 Mitigation – Calix's LEILAC Technology
CO2 Mitigation – Calix’s LEILAC Technology LEILAC-1 Belgium 2019 LEILAC-2 Hanover early 2024 LEILAC-3 25,000 Tonnes / Year CO2 100,000 Tonnes / Year CO2 500,000 Tonnes / Year CO2 Built Funded Multiple In Planning 20% 4x Slipstream 100% Replace 20 partners, including BUT ….. we need to mitigate 2.2 b
Slide 34: Sustainable Processing – Zero Emissions Steel TechnologY (ZESTY)
Sustainable Processing – Zero Emissions Steel TechnologY (“ZESTY”) New Patent Filed for Zero Emissions Iron and Steel… Key Update Steam Iron Ore Iron and Steel-making is responsible for 7% of global CO2 emissions – just behind cement and lime as the largest industrial emitter. Calix’s “ZESTY” (Zero
Slide 35: Because there's only one Earth… Mars is for quitters
Because there’s only one Earth… …Mars is for quitters Phil Hodgson Darren Charles Simon Hinsley Managing Director & CEO CFO & Company Secretary Investor Relations phodgson@calix.global dcharles@calix.global simon@nwrcommunications.com.au +61 2 8199 7400 +61 2 8199 7400 +61 401 809 653 Follow us on T