Calix Wins AU$15 Million Government Funding for Western Australia JV; Shares Hit Near Five-Year Low

MT Newswires Live01-15

Environmental technology company Calix (ASX:CXL) won AU$15 million in grant funding from the Western Australian government for the Mid-Stream demonstration plant project developed in a joint venture with Pilbara Minerals (ASX:PLS), according to a Tuesday filing with the Australian bourse.

The grant award is subject to terms and conditions between Pilbara Minerals and the Western Australian government, the filing said.

The additional funding support will allow the companies to consider resuming the project, which aims to build and operate a technology that could decarbonize the most carbon-intensive processes in the battery materials supply chain, the filing said.

Calix shares rose nearly 2% in midday trade Wednesday and earlier hit their lowest since June 2020, while Pilbara Minerals' shares climbed almost 4%.

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