Friday, 29 June 2018 11:41

Calix going ahead with IPO to raise $8 million

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Australian technology company Calix is moving ahead with its initial public offering, with the aim of raising $8 million as it continues to commercialise technology that it says reinvents the calcination (kiln) process.

Calix says it has now lodged its prospectus with the ASIC and the capital raising will give it a market capitalisation of $65 million on listing on the ASX.

The company has invested more than $50 million in capital to date to develop and commercialise its technology, and has been awarded in excess of $36 million in grant funding and rebates.

Calix chief executive Phil Hodgson said the company’s technology produced new materials and processes, targeted at solving significant global challenges such as CO2 capture, waste water treatment and phosphate removal, protecting sewer assets from corrosion, and improving food production from aquaculture and agriculture with reduced anti-biotic, fungicide and pesticide use.

Calix commercialises these new materials and processes via a variety of business models including direct sales of products, licensed distributor sales, and licensing of the technology.

“We have made significant commercial progress since bringing our first products to market in 2013 and we have successfully built a global business that is over 20% owned by our staff,” Hodgson said.

“We have operations, customers and distribution partners across Australia, New Zealand, Asia, and Europe, with product trials starting in the United States.”

Hodgson says Calix decided to list on the ASX to provide funding for its growth strategy. including enhancing the efficiency of its existing production facilities to drive margin expansion and expand sales and marketing capabilities, to increase revenues and enter new markets – and to continue specific R&D projects, provide working capital and liquidity for its shares and to gain the benefits of an increased profile as a listed entity.

Calix says it also has a development pipeline for additional applications of its technology platform, which are supported by grants in Australia and Europe, including advanced batteries and decarbonisation of lime and cement.

“As a cash-flow positive business with multiple products and applications being developed across multiple industries, we look forward to using the IPO proceeds to continue and accelerate the commercialisation of Calix’s products and technology platform,” Hodgson said.

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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