Slide 1: ASX Announcement: Calix ZESTY Investor Presentation
ASX Announcement 11 June 2024 Calix ZESTY Investor Presentation Sydney, Australia | 11 June 2024 – Australian environmental technology company, Calix Limited (ASX: CXL) (“Calix” or “the Company”) is pleased to provide a copy of its investor presentation for the online briefing on Tuesday, 11 June 20
Slide 2: About Calix
About Calix Calix Limited (ASX: CXL) is an environmental technology company solving urgent global challenges in industrial decarbonisation and sustainability. Calix’s unique patented core platform technology delivers efficient indirect heating of raw materials to enable renewably powered mineral pro
Slide 3: Zero Emissions Steel Technology Investor Briefing
For personal use only Zero Emissions Steel Technology Investor Briefing 11 June 2024 Investor briefing 11 June 2024
Slide 4: Important Disclaimer
Important Disclaimer This presentation has been prepared byCalix Limited (ABN 36 117 372 540) (“Company”). INVESTMENT RISK SUMMARY INFORMATION An in vestment in Calix securities is subject to investment and other known and unknown risks, some of which are beyond the control of This presentation cont
Slide 5: Agenda
Agenda Calix investor webinar – Zero Emissions Steel TechnologY For personal use only 1 Key Highlights 2 Introduction to Calix 3 Technology Status 4 Industry Opportunity 5 Commercialisation Strategy 6 Q&A Investor briefing 11 June 2024
Slide 6: Key Highlights
1 For personal use only Key Highlights Investor briefing 11 June 2024 4
Slide 7: Iron and steel are essential to our economic prosperity
For personal use only Iron and steel are essential to our economic prosperity and continued development Investor briefing 11 June 2024 5
Slide 8: Iron and steel responsible for ~8% of global CO2 emissions
The iron and steel industry is responsible for For personal use only ~8% of global CO2 emissions, with ironmaking being one of the most carbon intensive and hard-to-abate processes ~80% of the iron and steel Countries representing 90% of industry’s CO2 comes from global GDP now under net zero iron p
Slide 9: ZESTY process uses green hydrogen in renewably powered reactor
Calix’s ZESTY process uses green hydrogen in a For personal use only renewably powered reactor to produce green iron and ultimately, green steel The ZESTY process ZESTY’s potential to Proven at pilot scale, is targeting the upgrade low‐g rade and scaling up using lowest hydrogen use ores will be of
Slide 10: Key highlights: Decarbonising iron & steel with ZESTY
Key highlights Decarbonising iron & steel with ZESTY • One of the world’s largest decarbonisation opportunities For personal use only • ZESTY’s total addressable market could reach ~US$5.9bn p.a. in 2050 • Iron and steel accounts for 2.8bn tonnes of CO2 emissions annually, Industry ~8% of global CO2
Slide 11: Introduction to Calix
2 For personal use only Introduction to Calix Investor briefing 11 June 2024 9
Slide 12: About Calix
About Calix Calix Limited is an environmental technology company solving urgent global For personal use only challenges in industrial decarbonisation and sustainability. Calix’s unique patented core platform technology delivers efficient indirect heating of raw materials to enable renewably powered
Slide 13: Calix's core platform technology
Calix’s core platform technology A new way to “heat stuff up” For personal use only Pre-ground CO2 captured minerals when processing carbonate materials CARBON Unavoidable process CO2 emissions CAPTURE from cement and lime production and CO2 from the atmosphere are captured for use or storage. Calci
Slide 14: Calix's structure underpins a solid foundation for growth
Calix’s structure underpins a solid foundation for growth One core technology with multiple applications for global industries. Platform For personal use only output Carbon Capture Sustainable Processing Magnesia Business Pilbara subsidiary Minerals JV Applications Cement & lime Direct Air Capture L
Slide 15: Green mineral processing solutions for multiple industries
Green mineral processing solutions for multiple industries Multiple applications built & under development Alumina, lithium & critical 1 Magnesia 2 Cement & Lime 3 4 ZESTY – Green Iron and Steel For personal use only minerals Bacchus Marsh Belgium – “LEILAC-1” Victoria, Australia Location TBD Commis
Slide 16: Technology status
3 For personal use only Technology status 14 14
Slide 17: Zero Emissions Steel TechnologY (ZESTY)
Zero Emissions Steel TechnologY (ZESTY) Renewably-Powered Lower grade ores For personal use only The whole system, including the Proven ability to process lower reactor, can be powered by grade ores, including Australian renewable electricity hematite / goethite No Fluidized Beds Powder-base
Slide 18: ZESTY's key points of difference
ZESTY’s key points of difference ZESTY has several inherent advantages over other hydrogen reduction and green iron / steel technologies in development Green iron and steel Simple process Compatible with fines & No fossil fuel H 2 not combusted / (low pressure / No CCS requirement Examples For perso
Slide 19: Proven at pilot scale
Proven at pilot scale ZESTY ore testing results For personal use only ZESTY proven at pilot scale, with metallisation rates up to 98% H2-DRI produced from Australian hematite/goethite ores ~ 50% of global iron ore supply and not compatible with electric arc steel-making ZESTY H2-DRI fines have
Slide 20: ZESTY's compelling techno-economics
ZESTY’s compelling techno-economics Demonstration Plant FEED study Pilot testing and FEED study completed Techno-economics findings For personal use only ZESTY could produce green HBI at costs close to the range of conventional (carbon intensive) HBI production1 130+ 9 Tests completed Australian o
Slide 21: Towards FID for a ZESTY Demonstration Plant
Towards FID for a ZESTY Demonstration Plant ZESTY FEED study completed for a 30,000 tpa green iron demonstration plant For personal use only A$947,035 ARENA grant covering Why 30,000 tpa demonstration is the right next step ? ~50% of FEED costs The ZESTY commercial demonstrator is The FEED study has
Slide 22: ZESTY commercial demonstration – next steps
ZESTY commercial demonstration – next steps A demonstration facility would target cost recovery from test campaign fees and sales of the green iron product. Engineering, procurement & construction (EPC) For personal use only Detailed Engineering targeting completion FID + 18 months Construction targ
Slide 23: Industry opportunity
4 For personal use only Industry opportunity Investor briefing 11 June 2024 21
Slide 24: Decarbonising iron and steel
Decarbonising iron and steel Indispensable, carbon-intensive & hard-to-abate For personal use only Decarbonisation solutions should: • Enable multiple decarbonisation pathways ~8% • Be compatible with multiple ore types of global emissions1 • Minimise supply chain disruption • Leverage existing asse
Slide 25: Multiple drivers accelerating iron & steel decarbonisation
Multiple drivers accelerating iron & steel decarbonisation ZESTY’s potential is being propelled by several significant tailwinds to net zero For personal use only Iron and steel CO2 emissions continue to Iron and steel production remains a Acceleration in the demand for green 1 increase… 2 significa
Slide 26: Outlook for world iron and steel production
Outlook for world iron and steel production Whilst steel is expected to grow modestly to 2050 and iron production plateauing, under the IEA’s Sustainable Development Scenario, the mix of production technology is changing with an increasing proportion becoming decarbonised Global iron production to s
Slide 27: ZESTY total addressable market could be up to ~US$5.9bn p.a.
ZESTY total addressable market could be up to ~US$5.9bn p.a. If ZESTY can achieve a royalty of US$7.5 / tonne green iron2 (2% of HBI value), this indicates a total addressable market (TAM) of~US$3.5bn in 2022, growing to ~US$5.9bn in 2050 For personal use only 2022 2050 Steel from Basic Oxygen Furna
Slide 28: Commercialisation strategy
5 For personal use only Commercialisation strategy Investor briefing 11 June 2024 26
Slide 29: Who are we working with?
Who are we working with? Multi-year, multi-project $200m decarbonisation development program https://hiltcrc.com.au/ For personal use only Steel Producers Alumina Iron Ore Cement and Producers Lime Investor briefing 27 11 June 2024 27
Slide 30: Commercialisation Pipeline
Commercialisation Pipeline Our sustainable processing opportunity pipeline continues to grow across multiple applications • 1st study packages completed across our top 3 prioritised mineral sectors For personal use only • Multiple Iron Ore work programs now qualified following the successful expande
Slide 31: Capital-light business model
Capital-light business model ZESTY intends to adopt a capital-light business model for commercialidation, with royalty fees paid under a technology licence Business model options For personal use only C apital intensive C apital light Overview Own & operate Build then transfer Third party finance Li
Slide 32: Demonstration and growth funded via spin out
Demonstration and growth funded via spin out • Calix has experience in successfully spinning out technologies like ZESTY – attractive to private capital • Calix successfully “soft” spun out (7%) Leilac in 2021, valuing Leilac at €215m post money, plus 30% of all Leilac royalties to be paid to Calix
Slide 33: Significant valuations achieved for green iron / steel technologies
Significant valuations have been achieved for green iron / steel technologies 1000 only / Implied Post-Money use 750 Enterprise Value (US$m) H2Green Steel 2 Oct 22 US$260m Boston Metals personal Sep 23 500 US$262m Boston H2Green Steel Metals 3 May 21 ForEstimated Sep 21 Electra US$105m 250 US$110m O
Slide 34: Key takeaways
Key takeaways ZESTY presents a significant growth opportunity for Calix leveraging its unique patented platform technology to develop scalable decarbonisation solutions for the iron and steel industry For personal use only • Estimated total addressable market of up to US$5.9bn p.a. (2050) – one of t
Slide 35: Q&A
6 For personal use only Q&A Investor briefing 11 June 2024 33
Slide 36: Contact details
For personal use only Phil Hodgson Darren Charles Chris Ormston Managing Director & CEO CFO & Company Secretary General Manager – Sustainable Processing phodgson@calix.global dcharles@calix.global cormston@calix.global +61 2 8199 7400 +61 2 8199 7400 +61 2 8199 7400 Investor relations Media enquirie
Slide 37: Glossary
Glossary Term Meaning BF-BOF Blast Furnace / Basic Oxygen Furnace – the most prevalent steelmaking technique in the world today, using coal as both a heat source and reductant For personal use only Calciner A term describing a kiln or furnace - typically used in the mineral processing industries CCS
Slide 38: Mars is for quitters
For personal use only Mars is for quitters Investor briefing 11 June 2024