Calix Ltd. · ASX:CXL
Calix — Investor Presentation (October 2022)
40 slides from Calix's investor presentation, Oct 19, 2022
Slide 1: Calix Limited Investor Presentation October 2022
CALIX LIMITED Investor Presentation October 2022 Solving global challenges NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES 1
Slide 2: Important Disclaimer
Important Disclaimer This presentation has been prepared by Calix Limited (ABN 36 117 372 540) (“Company”). SUMMARY INFORMATION INVESTMENT RISK This presentation contains summary information about the Company and its subsidiaries (“Calix”) and their activities current as at 19 An investment in Calix
Slide 3: Contents
CONTENTS Executive summary Technology and business overview Equity raising overview Key risks and international selling restrictions Appendix 3 3
Slide 4: Company overview
Company overview CALIX LTD (ASX: CXL) Calix is urgently developing great businesses that deliver positive global impact. Leveraging its patented technology, it is developing and scaling environmental solutions for CO2 mitigation, sustainable mineral and chemical processing, advanced batteries, biote
Slide 5: Equity raising summary
Equity raising summary Calix is undertaking an equity raising to accelerate commercialisation of its technology. The equity raising • A fully underwritten institutional placement of $60m comprising the issue of 13.2 million shares at an issue price of A$4.55 per share; and • A Share Purchase Plan (
Slide 6: Market opportunity
Market opportunity Industrial decarbonisation – the net zero challenge. A global challenge with strong tailwinds • Governments, companies and investors are focused on the urgent decarbonisation of our industries in pursuit of a net zero CO 2 economy. ➢ ~90% of global GDP now under net zero commitmen
Slide 7: Our core technology platform
Our core technology platform A new way to “heat stuff up". CO2 capture Unavoidable process CO2 emissions from limestone are efficiently separated for use or storage. 28 patent families covering core technology and applications. Renewable energy- >A$120m has been ready Highly-active materials investe
Slide 8: Multiple environmental business opportunities
Multiple environmental business opportunities Fast-track commercialisation and value-adding through JV/licensing and spin-out strategies. Advanced Sustainable CO2 Leilac Water Biotech Batteries Processing Mitigation (Calix 93.02%) Water treatment Crop protection Advanced Renewably powered Cement CO2
Slide 9: Cement and Lime CO2 solution comparison
Cement and Lime CO2 solution comparison Calix’s technology is targeting >90% reduction in cement and lime CO2 emissions at a materially lower cost than competing amine technologies. CO2 emissions in cement & lime Fuel emissions CaCO3 + heat → CaO + CO2 ∼8% of global CO2 Today, external heating is ac
Slide 10: Leilac – A growing pipeline of projects
Leilac – A growing pipeline of projects Detailed Project Pre-FEED / FID + Initial scoping scoping / FEED Operational Total discussions BOD construction MOU Aug 2021 21 7 4 1 1 34 Leilac 2 Leilac 1 7 Oct 2022 34 12 10 1 1 65 Leilac-2 Leilac-1 Adbri Boral Tarmac • Adbri, Boral and Tarmac have committe
Slide 11: Heidelberg Materials first global licence executed
Heidelberg Materials (HM) first global licence executed The Heidelberg Materials licence agreement represents an important milestone for the Leilac technology, and a first-of-a-kind agreement for the industry. Heidelberg Materials • One of the world’s largest building materials companies. • Headquar
Slide 12: Leilac business model
Leilac business model The Leilac business model is a capital light licensing model • The Leilac business model is targeting a capital-lite licensing model where Leilac will earn a royalty fee per tonne of CO2 avoided. • The Heidelberg Materials licence agreement represents an important milestone for
Slide 13: Lithium processing JV
Lithium processing JV Full Documentation is in essentially final form for lithium processing JV with Pilbara Minerals (ASX:PLS). KEY TERMS OF JV Post-demonstration JV revenue potential (p.a.) • Innovative midstream refining process utilising Calix’s patented calcination technology to produce lithium
Slide 14: Equity raising overview
Equity raising overview Significant opportunity to build on accelerating momentum in Calix technology commercialisation. Application Use of funds A$m • Capex requirements for completion of Leilac-2 construction at Heidelberg Materials' Hannover 1. Accelerate commercialisation plant. of Leilac's ceme
Slide 15: Accelerate Leilac commercialisation – Leilac-2 additional capital
Accelerate Leilac commercialisation – Leilac-2 additional capital 1 Capex to complete construction of Leilac-2 – as part of consortium contribution. Investment: A$8m Funding requirement Leilac-1 Leilac-2 • Financial Investment Decision (FID) for the Hanover, Germany-based Leilac-2 project was taken
Slide 16: Accelerate Leilac commercialisation – Adbri and Boral
Accelerate Leilac commercialisation – Adbri and Boral 1 Support development arrangements for 2 lime calciner JV / BOOT projects. Investment: A$30m Funding requirement • A$41m of government funding announced for 2 lime calciner projects with Boral (ASX:BLD) and Adbri (ASX:ABC). • Both projects have c
Slide 17: Formation of Pilbara Minerals JV and development of lithium salt project
Formation of Pilbara Minerals JV and development of lithium salt project 2 Capital for mid-stream product demonstration plant. Investment: A$17.5m Funding requirement • Pilbara Minerals (ASX:PLS): Full Documentation is in essentially final form with A$20m in Australian Government funding announced u
Slide 18: ZESTY FEED Study
ZESTY FEED Study 3 30 kTpa Calix ZESTY green iron / steel demonstration facility Investment: A$2.5m. Funding requirement BATMn ZESTY Concept ZESTY Advantage • Since filing a patent for ZESTY in November 2021, Calix converted BATMn to run hydrogen reduction within 3 months, then conducted 3 months of
Slide 19: Future strategic opportunities
Future strategic opportunities 4 Discretionary capital for future strategic opportunities and capability Investment: up to A$20m1 Target application Opportunity Strategy • The use of alternative fuels is a central pillar of cement and lime fuel decarbonisation. It also adds energy options for other
Slide 20: Equity raising summary
Equity raising summary Fully underwritten Placement to raise A$60m and Director sell down of A$2.4m in conjunction with a non-underwritten Share Purchase Plan to raise up to A$20m • Fully underwritten Placement to raise approximately A$60m via the issue of 13.2 million new ordinary fully paid shares
Slide 21: Equity raising timetable
Equity raising timetable Institutional Placement Date1 Trading halt and announcement of Placement and SPP Wednesday, 19 October 2022 Placement bookbuild Wednesday, 19 October 2022 Trading halt lifted and Calix shares recommence trading on ASX Thursday, 20 October 2022 Settlement of Placement Monday,
Slide 22: Key risks and international selling restrictions
Key risks and international selling restrictions 22 22
Slide 23: Risks specific to an investment in Calix
Risks specific to an investment in Calix All investments carry risk, including loss of some or all of the capital invested and failure of investments to generate a positive return. You should carefully consider whether an investment in Calix is a suitable investment for you. Some of the risks of inv
Slide 24: Risks specific to an Investment in Calix
Risks specific to an Investment in Calix All investments carry risk, including loss of some or all of the capital invested and failure of investments to generate a positive return. You should carefully consider whether an investment in Calix is a suitable investment for you. Some of the risks of inv
Slide 25: Risks specific to an Investment in Calix
Risks specific to an Investment in Calix All investments carry risk, including loss of some or all of the capital invested and failure of investments to generate a positive return. You should carefully consider whether an investment in Calix is a suitable investment for you. Some of the risks of inv
Slide 26: Risks specific to an Investment in Calix
Risks specific to an Investment in Calix All investments carry risk, including loss of some or all of the capital invested and failure of investments to generate a positive return. You should carefully consider whether an investment in Calix is a suitable investment for you. Some of the risks of inv
Slide 27: Risks specific to an Investment in Calix
Risks specific to an Investment in Calix All investments carry risk, including loss of some or all of the capital invested and failure of investments to generate a positive return. You should carefully consider whether an investment in Calix is a suitable investment for you. Some of the risks of inv
Slide 28: Risks specific to an Investment in Calix
Risks specific to an Investment in Calix All investments carry risk, including loss of some or all of the capital invested and failure of investments to generate a positive return. You should carefully consider whether an investment in Calix is a suitable investment for you. Some of the risks of inv
Slide 29: Risks specific to an Investment in Calix
Risks specific to an Investment in Calix All investments carry risk, including loss of some or all of the capital invested and failure of investments to generate a positive return. You should carefully consider whether an investment in Calix is a suitable investment for you. Some of the risks of inv
Slide 30: Risks specific to an Investment in Calix
Risks specific to an Investment in Calix All investments carry risk, including loss of some or all of the capital invested and failure of investments to generate a positive return. You should carefully consider whether an investment in Calix is a suitable investment for you. Some of the risks of inv
Slide 31: International offer restrictions
International offer restrictions This document does not constitute an offer of new ordinary shares ("New Shares") of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any
Slide 32: International offer restrictions
International offer restrictions New Zealand This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (the "FMC Act"). The New Shares are not being offered or sold in New Zealand (or allotted with a view to bei
Slide 33: International offer restrictions – United States
International offer restrictions United States This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The New Shares have not been, and will not be, registered under the US Securities Act of 1933 or the securities laws of any state
Slide 34: Appendix
Appendix Board of Directors and Equity Structure 34 34
Slide 35: 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 36: Listed on the ASX in July, 2018
Listed on the ASX in July, 2018 ASX:CXL Share Price Performance Since Listing As at 18 Oct 2022 Shares on issue ~161.6m Share price for IPO Capital Raise $0.53 per share Share price on IPO $0.62 per share Current Share price $5.12 per share S&P Market capitalisation ~$827m ASX200 Major shareholders
Slide 37: Glossary
Glossary Term Meaning Alumina The most commonly occuring form of aluminium oxide, with the chemical formula Al2O3 Amines A chemical compound that can be used for the removal of CO2 from other gases Anode The negative electrode of a battery BATMn Calix’s core kiln technology, electrified – for batter
Slide 38: Glossary
Glossary Term Meaning Haematite A common iron oxide compound with the chemical formula Fe2O3 Lithium ion The ionic form of lithium (Li+) – a positively charged atom of lithium Iron The chemical element, represent by “Fe” on the periodic table Iron Ore Iron oxide mixed with various other minerals, as
Slide 39: Glossary
Glossary Term Meaning Reduce / Reduction The process by which oxygen is removed Reductant A material that, through its chemical properties, carries out reduction Steel Mainly iron, with some carbon and other trace metals such as nickel, manganese etc depending upon the grade of steel being made Tpa
Slide 40: 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