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.
“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.