Australia’s Calix snares backing for carbon capture technology

Investing.com | Sep 14, 2021 at 8:48 PM
  • Australia’s Calix (NYSE:CALX) Ltd has lined up an investor to buy a stake in its carbon capture technology unit, valuing the business at A$350 million ($256 million), it said on Wednesday.
  • LEILAC, which stands for Low Emissions Intensity Lime and Cement, is focused on commercialising Calix’s patented kiln which captures carbon dioxide (CO2) from limestone in the production of lime and cement.
  • Carbon Direct backed LEILAC after Calix completed a two-year pilot test of its kiln at a Heidelberg Cement plant in Belgium in June.